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 Corporation reports developments across a diversified energy infrastructure and energy services business anchored by New Jersey Natural Gas. Its recurring updates cover utility operating results, customer growth, rate effects, Basic Gas Supply Service incentives, natural gas hedging, and net financial earnings guidance.
NJR news also follows Energy Services performance in physical natural gas and asset management, Storage and Transportation assets such as Leaf River, Adelphia Gateway Pipeline and Steckman Ridge, Clean Energy Ventures solar projects, Home Services offerings, quarterly dividends, board elections, leadership changes, and environmental or community initiatives tied to its New Jersey service territory.
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New Jersey Resources (NYSE: NJR) is set to broadcast its fiscal 2023 second quarter financial results via a live webcast on May 4, 2023, at 10 a.m. ET. The presentation will be led by President and CEO Steve Westhoven, along with Senior VP and CFO Roberto Bel. NJR provides essential natural gas and clean energy services across its five subsidiaries, with the core being New Jersey Natural Gas, which serves over 570,000 customers through more than 7,700 miles of infrastructure. The company is committed to energy conservation and efficiency through initiatives like Conserve to Preserve®.
For further details, interested parties can visit www.njresources.com.
The Board of Directors of New Jersey Resources (NYSE: NJR) has declared a quarterly dividend of $0.39 per share, payable on July 3, 2023, to shareholders of record as of June 14, 2023. This reflects NJR's commitment to delivering competitive returns, as the company has maintained quarterly dividends since 1952. NJR operates various businesses, including New Jersey Natural Gas, which serves over 570,000 customers, and Clean Energy Ventures, focusing on solar projects with over 430 megawatts capacity.
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New Jersey Resources (NJR) announced a reduction in the Basic Gas Supply Service (BGSS) rate, effective March 1, 2023, resulting in an 8.1% savings for typical customers. This translates to approximately $129.48 in annual savings for customers using 1,000 therms per year. A one-time bill credit of $34.6 million will also be applied during March 2023. The BGSS rate will decrease by $0.0616 per therm, saving customers an additional $61.60 annually. The reductions stem from lower wholesale natural gas prices and effective supply management strategies, with NJNG emphasizing ongoing support for customers facing payment difficulties.
New Jersey Resources Corporation (NYSE: NJR) reported robust results for Q1 fiscal 2023, achieving consolidated net income of $115.9 million, up from $111.3 million year-over-year. Net financial earnings (NFE) rose significantly to $110.3 million or $1.14 per share, compared to $65.8 million or $0.69 per share for the prior year. The company raised its NFE per share guidance for fiscal 2023 to between $2.62 and $2.72, an increase of $0.20, driven by exceptional performance during Winter Storm Elliott. The long-term projected NFEPS growth remains at 7 to 9 percent.