Welcome to our dedicated page for New Jersey Res news (Ticker: NJR), a resource for investors and traders seeking the latest updates and insights on New Jersey Res stock.
New Jersey Resources (NYSE: NJR) is a diversified energy services leader combining regulated natural gas distribution with strategic investments in renewable energy and midstream infrastructure. This page aggregates official press releases, regulatory filings, and market-moving updates to serve as a comprehensive resource for stakeholders.
Key features include real-time access to earnings reports, infrastructure developments, solar project announcements, and regulatory compliance milestones. Investors gain insights into NJR’s operational strategy across its utility services and nonregulated ventures, while analysts track performance indicators through verified primary sources.
Content spans financial disclosures, sustainability initiatives, and partnership updates, ensuring full visibility into NJR’s role in energy transition trends. All materials are sourced directly from company communications to maintain accuracy and timeliness.
Bookmark this page for streamlined access to NJR’s latest developments, or check back regularly for updates impacting the energy services sector.
New Jersey Resources (NYSE: NJR) held its 72nd Annual Shareowners Meeting, where shareholders elected three directors to the board: Gregory E. Aliff, Thomas C. O'Connor, and Michael A. O'Sullivan. Each director will serve a three-year term expiring in 2028.
During the virtual meeting, shareowners also approved a non-binding advisory resolution on executive compensation and ratified Deloitte & Touche LLP as the company's independent registered public accounting firm for the fiscal year ending September 30, 2025.
New Jersey Resources (NYSE: NJR) has announced a $50,000 pledge to launch Rutgers University's first Vibrant Communities Sustainability & Resiliency Project, alongside releasing its 2024 Corporate Sustainability Report. The funding, provided through NJR's Coastal Climate Initiative, will support a sustainable landscape master plan in Manitou Park, South Toms River Borough.
The project will involve Rutgers University's Landscape Architecture Program graduate students creating and implementing environmental improvements, including enhanced green spaces, improved stormwater management, and community engagement initiatives. This builds on NJR's philanthropic history, including over $275,000 in support to Homes for All since 2008.
The 2024 Corporate Sustainability Report highlights include: over 4,200 employee volunteer hours, $2.1 million in nonprofit funding, completion of their first capped landfill community solar facility, $71.3 million investment in SAVEGREEN energy-efficiency program, and recognition as one of America's Most Responsible Companies by Newsweek for the fifth consecutive year.
New Jersey Resources (NYSE: NJR) has announced its upcoming fiscal 2025 first quarter earnings call, scheduled for Tuesday, February 4, 2025, at 10 a.m. ET. The company will release its financial results on Monday, February 3, 2025, after the stock market closes.
Investors, customers, financial community members, and other interested parties are invited to participate in the live webcast. To access the webcast, participants should visit www.njresources.com, navigate to the 'Investor Relations' section, and click the webcast link under 'Latest Events' on the right side of the page.
New Jersey Resources (NYSE: NJR) reported fiscal 2024 results with consolidated net income of $289.8 million, or $2.94 per share, up from $264.7 million in 2023. The company achieved consolidated net financial earnings of $290.8 million, or $2.95 per share, reaching the higher end of its guidance range. Fourth-quarter net income was $91.1 million. Key highlights include BPU approval for a $157.0 million base rate increase and a new $385.6 million energy efficiency program. The company announced the sale of its 91MW residential solar portfolio for $132.5 million and introduced fiscal 2025 NFEPS guidance of $3.05-$3.20.
NJR Clean Energy Ventures (CEV) has sold its 91 megawatt residential solar portfolio to Spruce Power Holding for $132.5 million. The transaction includes approximately 9,800 residential solar systems operated under 'The Sunlight Advantage®' program. Spruce will assume all existing lease agreements with homeowners. NJR plans to use the proceeds to reduce corporate debt and for working capital. Following the sale, CEV will focus on expanding its commercial solar portfolio, supported by a nearly 1 GW pipeline of investment opportunities. Since 2009, CEV has invested over $1.2 billion in solar projects and has become New Jersey's largest commercial solar owner-operator, with assets across multiple states.
Spruce Power (NYSE: SPRU) has acquired a residential solar portfolio from NJR Clean Energy Ventures for $132.5 million. The acquisition includes approximately 9,800 solar systems in New Jersey, expanding Spruce's customer base by ~13% to ~85,000. The Portfolio features long-term lease agreements with homeowners, averaging over 11 years remaining. The deal was funded with $22.7 million cash and a new $109.8 million debt facility from Santander. The Portfolio is expected to generate levered cash flows of approximately $7.0 million for the twelve months ended September 2025, and cumulative levered cash flows of about $22.0 million from 2025 to 2027.
New Jersey Natural Gas (NJNG) has received approval from the New Jersey Board of Public Utilities for a $157 million base rate increase. The settlement reflects a rate base of $3.25 billion, an overall rate of return of 7.08% (including a 9.6% return on equity with 54% equity ratio), and a 3.21% composite depreciation rate. The increase will help recover costs from $850 million in infrastructure investments made since 2021, including system enhancements, looping and reinforcement projects, replacement of 140 miles of vintage distribution mains, modernization of customer service operations, and cybersecurity improvements. The settlement also addresses COVID-19 pandemic-related arrearages.
New Jersey Resources (NYSE: NJR) announced that its board of directors has unanimously declared a quarterly dividend of $0.45 per share, payable on January 2, 2025, to shareholders of record as of December 11, 2024. The company highlighted its consistent dividend payment history, having distributed quarterly dividends continuously since 1952, with annual increases for 29 consecutive years.
New Jersey Natural Gas (NJNG) received BPU approval for its largest energy-efficiency program, SAVEGREEN®, effective January 2025 through June 2027. The company is authorized to invest $385.6 million over 30 months, including $205 million for direct program funding and $160.5 million for 0% financing opportunities. The program aims to help customers reduce energy usage and lower bills through rebates and financing for equipment replacement and energy-efficiency measures. If fully subscribed, SAVEGREEN will save over 109.8 million therms of natural gas, preventing 580,592 metric tons of CO2 emissions. The program includes innovative technologies like hybrid heat systems and gas heat pumps for commercial customers.
New Jersey Resources (NYSE: NJR) has announced a 7.1% increase in its quarterly dividend to $0.45 per share, up from $0.42. The new dividend will be payable on October 1, 2024, to shareholders of record as of September 23, 2024. This increase brings the annual dividend rate to $1.80 per share. NJR has consistently paid quarterly dividends since its inception in 1952 and has raised the dividend for 29 consecutive years. The company's CEO, Steve Westhoven, emphasized that this increase reflects the board's confidence in NJR's financial health and long-term growth strategy, demonstrating a commitment to delivering sustainable returns to stakeholders.
FAQ
What is the current stock price of New Jersey Res (NJR)?
What is the market cap of New Jersey Res (NJR)?
