New Jersey Res Stock Price, News & Analysis

New Jersey Resources (NYSE: NJR) has appointed Ginger Richman as the new Vice President of Storage and Transportation, effective October 15, 2022, succeeding John Bremner, who is retiring. Richman brings over 35 years of experience in the natural gas sector and has been with NJR since 2003, currently leading the Adelphia Gateway pipeline operations. Under her leadership, NJR aims to enhance its storage and transportation capabilities and operational efficiencies. The transition marks a strategic move to bolster the company's growth and service delivery.

The Board of New Jersey Resources Corporation (NYSE: NJR) has approved a 7.6% increase in its quarterly dividend, now set at $0.39 per share, up from $0.3625. This change is effective for the dividend payable on October 3, 2022, to shareholders of record on September 26, 2022. The new annual dividend rate will be $1.56 per share, marking the 29th dividend increase in 27 years. CEO Steve Westhoven emphasized that this increase reflects the Board’s confidence in the company’s long-term strategy and financial position.

New Jersey Resources (NYSE: NJR) has appointed Robert Pohlman as Vice President of NJR Clean Energy Ventures and Corporate Strategy. Pohlman, who joined NJR in 2011, will lead renewable energy initiatives and drive growth opportunities. NJR has invested over $1 billion in renewable infrastructure over the past decade, with Clean Energy Ventures being a core part of its strategy. Under Pohlman's leadership, CEV has become one of the largest solar owner/operators in New Jersey. NJR provides essential natural gas and clean energy services to over 560,000 customers.

New Jersey Resources Corporation (NJR) reported a consolidated net income of $13.1 million for Q3 FY2022, up from a net loss of $(111.8 million) in Q3 FY2021. Year-to-date net income reached $220.4 million, compared to $119.0 million last year. The company raised its fiscal 2022 net financial earnings per share (NFEPS) guidance to a range of $2.40 to $2.50. This improvement is attributed to strong performance at New Jersey Natural Gas and increased revenue from Clean Energy Ventures.

The board of directors of New Jersey Resources Corporation (NYSE: NJR) has declared a quarterly dividend of $0.3625 per share. This dividend is set to be paid on October 3, 2022, to shareholders of record as of September 26, 2022. NJR has consistently paid quarterly dividends since 1952, showcasing its commitment to shareholder returns. The company operates across various sectors, including natural gas distribution and clean energy, serving over 560,000 customers in New Jersey.

New Jersey Resources (NYSE: NJR) will host a live webcast to discuss its fiscal 2022 third-quarter earnings on August 4, 2022, at 10 a.m. ET. The discussion will be led by President and CEO Steve Westhoven and CFO Roberto Bel, focusing on operational performance for the period ending June 30, 2022. NJR operates primarily through its subsidiary, New Jersey Natural Gas, which serves over 560,000 customers with more than 7,600 miles of gas distribution infrastructure.

New Jersey Resources (NYSE: NJR) appointed Tejal K. Mehta as Corporate Secretary and Assistant General Counsel effective June 6, 2022. Ms. Mehta brings nearly 15 years of legal experience, previously serving at TD Bank Group and Ballard Spahr LLP, focusing on regulatory compliance and corporate governance. Her leadership is expected to bolster NJR's corporate legal function and board oversight.

Richard Reich, NJR's general counsel, praised her proven skills, highlighting their potential positive impact on the company and its customers.

New Jersey Natural Gas (NJNG), a subsidiary of New Jersey Resources (NYSE: NJR), filed for BGSS rate adjustments due to rising wholesale gas prices. The request includes a 12.5% increase for residential heating customers, affecting typical users of 100 therms per month. Factors for price hikes are attributed to geopolitical issues and supply-demand imbalances. While NJNG hedges 80% of its winter supply, the overall proposed increase is 15.9%, pending approval from the New Jersey Board of Public Utilities, effective October 1, 2022.