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New Jersey Resources

DB:NJ1
Snowflake Description

Established dividend payer with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NJ1
DB
$4B
Market Cap
  1. Home
  2. DE
  3. Utilities
Company description

New Jersey Resources Corporation, an energy services holding company, provides regulated gas distribution, and retail and wholesale energy services. The last earnings update was 77 days ago. More info.


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NJ1 Share Price and Events
7 Day Returns
0%
DB:NJ1
1.1%
Europe Gas Utilities
1%
DE Market
1 Year Returns
28.9%
DB:NJ1
10.2%
Europe Gas Utilities
-5.6%
DE Market
NJ1 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
New Jersey Resources (NJ1) 0% -1.2% 3.7% 28.9% 39.2% 141%
Europe Gas Utilities 1.1% 0.6% 4.1% 10.2% 36% 27.8%
DE Market 1% 6.1% 8.4% -5.6% 10.9% 13.8%
1 Year Return vs Industry and Market
  • NJ1 outperformed the Gas Utilities industry which returned 10.2% over the past year.
  • NJ1 outperformed the Market in Germany which returned -5.6% over the past year.
Price Volatility
NJ1
Industry
5yr Volatility vs Market

Value

 Is New Jersey Resources undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
  • It is not possible to calculate the future cash flow value for New Jersey Resources. This is due to cash flow or dividend data being unavailable. The share price is €43.28.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for New Jersey Resources's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are New Jersey Resources's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:NJ1 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $2.23
NYSE:NJR Share Price ** NYSE (2019-04-24) in USD $49.2
Europe Gas Utilities Industry PE Ratio Median Figure of 8 Publicly-Listed Gas Utilities Companies 17.99x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.72x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of New Jersey Resources.

DB:NJ1 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:NJR Share Price ÷ EPS (both in USD)

= 49.2 ÷ 2.23

22.11x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • New Jersey Resources is overvalued based on earnings compared to the Europe Gas Utilities industry average.
  • New Jersey Resources is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does New Jersey Resources's expected growth come at a high price?
Raw Data
DB:NJ1 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 22.11x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
4.8%per year
Global Gas Utilities Industry PEG Ratio Median Figure of 29 Publicly-Listed Gas Utilities Companies 2.45x
Germany Market PEG Ratio Median Figure of 269 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

DB:NJ1 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 22.11x ÷ 4.8%

4.6x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • New Jersey Resources is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on New Jersey Resources's assets?
Raw Data
DB:NJ1 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $16.88
NYSE:NJR Share Price * NYSE (2019-04-24) in USD $49.2
Europe Gas Utilities Industry PB Ratio Median Figure of 9 Publicly-Listed Gas Utilities Companies 1.76x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.87x
DB:NJ1 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:NJR Share Price ÷ Book Value per Share (both in USD)

= 49.2 ÷ 16.88

2.91x

* Primary Listing of New Jersey Resources.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • New Jersey Resources is overvalued based on assets compared to the Europe Gas Utilities industry average.
X
Value checks
We assess New Jersey Resources's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Gas Utilities industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Gas Utilities industry average (and greater than 0)? (1 check)
  5. New Jersey Resources has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is New Jersey Resources expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
4.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is New Jersey Resources expected to grow at an attractive rate?
  • New Jersey Resources's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • New Jersey Resources's earnings growth is positive but not above the Germany market average.
  • New Jersey Resources's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:NJ1 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:NJ1 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 4.8%
DB:NJ1 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 0.9%
Europe Gas Utilities Industry Earnings Growth Rate Market Cap Weighted Average 39.9%
Europe Gas Utilities Industry Revenue Growth Rate Market Cap Weighted Average 3.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:NJ1 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:NJ1 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-09-30 2,736 383 238 1
2021-09-30 2,985 347 215 2
2020-09-30 2,831 313 199 7
2019-09-30 2,729 292 199 6
DB:NJ1 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 3,022 317 196
2018-09-30 2,915 398 233
2018-06-30 2,804 418 213
2018-03-31 2,718 389 246
2017-12-31 2,433 271 221
2017-09-30 2,269 248 132
2017-06-30 2,201 269 194
2017-03-31 2,137 196 158
2016-12-31 1,978 133 116
2016-09-30 1,881 143 132
2016-06-30 1,850 105 110
2016-03-31 1,915 182 120

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • New Jersey Resources's earnings are expected to grow by 4.8% yearly, however this is not considered high growth (20% yearly).
  • New Jersey Resources's revenue is expected to grow by 0.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:NJ1 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from New Jersey Resources Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:NJ1 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-09-30 2.54 2.54 2.54 1.00
2021-09-30 2.33 2.36 2.29 2.00
2020-09-30 2.17 2.23 2.11 4.00
2019-09-30 2.22 2.35 1.96 3.00
DB:NJ1 Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 2.23
2018-09-30 2.66
2018-06-30 2.44
2018-03-31 2.84
2017-12-31 2.55
2017-09-30 1.53
2017-06-30 2.25
2017-03-31 1.83
2016-12-31 1.35
2016-09-30 1.53
2016-06-30 1.29
2016-03-31 1.41

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if New Jersey Resources will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess New Jersey Resources's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
New Jersey Resources has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has New Jersey Resources performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare New Jersey Resources's growth in the last year to its industry (Gas Utilities).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • New Jersey Resources's year on year earnings growth rate has been positive over the past 5 years.
  • New Jersey Resources's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • New Jersey Resources's 1-year earnings growth is negative, it can't be compared to the Europe Gas Utilities industry average.
Earnings and Revenue History
New Jersey Resources's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from New Jersey Resources Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:NJ1 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 3,021.57 195.99
2018-09-30 2,915.11 233.44
2018-06-30 2,804.30 213.17
2018-03-31 2,718.39 246.40
2017-12-31 2,432.89 220.84
2017-09-30 2,268.62 132.07
2017-06-30 2,201.34 193.99
2017-03-31 2,137.03 157.67
2016-12-31 1,977.68 116.32
2016-09-30 1,880.91 131.67
2016-06-30 1,849.97 110.47
2016-03-31 1,915.22 120.37
2015-12-31 2,354.12 107.92
2015-09-30 2,733.99 180.96
2015-06-30 2,887.60 152.34
2015-03-31 3,117.39 145.53
2014-12-31 3,683.86 257.60
2014-09-30 3,738.15 141.97
2014-06-30 3,879.93 146.37
2014-03-31 3,959.14 189.80
2013-12-31 3,340.45 62.30
2013-09-30 3,198.07 114.81
2013-06-30 3,032.84 126.14
2013-03-31 2,690.50 86.66
2012-12-31 2,342.53 95.73
2012-09-30 2,248.92 92.88
2012-06-30 2,351.35 94.06

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • New Jersey Resources has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • New Jersey Resources used its assets more efficiently than the Europe Gas Utilities industry average last year based on Return on Assets.
  • New Jersey Resources has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess New Jersey Resources's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Gas Utilities industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
New Jersey Resources has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is New Jersey Resources's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up New Jersey Resources's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • New Jersey Resources is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • New Jersey Resources's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of New Jersey Resources's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from New Jersey Resources Company Filings, last reported 3 months ago.

DB:NJ1 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,497.05 1,681.31 7.93
2018-09-30 1,418.98 1,456.11 1.84
2018-06-30 1,449.96 1,317.79 1.31
2018-03-31 1,467.37 1,314.74 4.93
2017-12-31 1,347.77 1,553.08 4.74
2017-09-30 1,236.64 1,436.92 2.23
2017-06-30 1,284.60 1,355.99 62.16
2017-03-31 1,286.28 1,326.98 92.74
2016-12-31 1,185.36 1,410.82 46.88
2016-09-30 1,166.59 1,261.26 37.55
2016-06-30 1,170.88 1,246.42 94.81
2016-03-31 1,207.48 1,021.51 1.88
2015-12-31 1,143.94 1,072.03 1.68
2015-09-30 1,106.96 921.08 4.93
2015-06-30 1,123.31 883.55 70.18
2015-03-31 1,151.12 881.48 103.34
2014-12-31 1,103.65 992.46 11.73
2014-09-30 966.17 933.71 2.15
2014-06-30 1,013.09 810.75 3.32
2014-03-31 1,039.18 713.22 9.55
2013-12-31 881.92 1,098.78 10.05
2013-09-30 887.38 947.13 2.97
2013-06-30 892.36 881.57 1.86
2013-03-31 897.77 824.39 6.00
2012-12-31 863.09 933.05 3.26
2012-09-30 813.87 812.73 4.51
2012-06-30 836.09 736.10 7.06
  • New Jersey Resources's level of debt (112.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (123.9% vs 112.3% today).
  • Debt is not well covered by operating cash flow (18.9%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.6x coverage).
X
Financial health checks
We assess New Jersey Resources's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. New Jersey Resources has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is New Jersey Resources's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.38%
Current annual income from New Jersey Resources dividends. Estimated to be 2.54% next year.
If you bought €2,000 of New Jersey Resources shares you are expected to receive €48 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • New Jersey Resources's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.44%).
  • New Jersey Resources's dividend is below the markets top 25% of dividend payers in Germany (3.7%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:NJ1 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
Europe Gas Utilities Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 4.7%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:NJ1 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-09-30
2021-09-30 1.35 1.00
2020-09-30 1.25 4.00
2019-09-30 1.19 2.00
DB:NJ1 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-01-22 1.170 2.416
2018-11-13 1.170 2.478
2018-05-08 1.090 2.411
2018-01-23 1.090 2.758
2017-11-14 1.090 2.638
2017-07-11 1.090 2.543
2017-05-09 1.020 2.471
2017-01-24 1.020 2.615
2016-11-16 1.020 2.891
2016-09-13 1.020 3.086
2016-05-11 0.960 2.675
2016-01-19 0.960 2.725
2015-11-11 0.960 3.080
2015-07-14 0.960 3.285
2015-05-13 0.900 3.121
2015-01-21 0.900 2.886
2014-11-12 0.900 3.007
2014-07-16 0.900 3.412
2014-05-14 0.840 3.054
2014-01-21 0.840 3.563
2013-11-13 0.840 3.713
2013-07-10 0.840 3.794
2013-05-15 0.800 3.633
2013-01-24 0.800 3.587
2012-11-15 0.800 3.978
2012-07-12 0.800 3.550
2012-05-17 0.760 3.524
2012-01-26 0.760 3.373
2011-11-16 0.760 3.186
2011-07-18 0.720 3.203
2011-05-12 0.720 3.217
2011-01-27 0.720 3.406
2010-11-17 0.720 3.337
2010-07-16 0.680 3.504
2010-05-13 0.680 3.806
2010-05-06 0.680 3.649
2010-05-05 0.680 3.656
2010-02-03 0.680 3.667
2009-09-01 0.620 3.403
2009-05-15 0.620 3.416

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of New Jersey Resources's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.9x coverage).
X
Income/ dividend checks
We assess New Jersey Resources's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can New Jersey Resources afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. New Jersey Resources has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of New Jersey Resources's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Larry Downes
COMPENSATION $4,553,524
AGE 61
TENURE AS CEO 23.8 years
CEO Bio

Mr. Laurence M. Downes, also known as Larry, has been the Chairman of the Board of New Jersey Resources Corporation since September 1996 and has been its Chief Executive Officer since July 1995. Mr. Downes has been the Chairman of New Jersey Economic Development Authority since February 2018. Mr. Downes has been Chief Executive Officer of New Jersey Natural Gas since March 2015 and also has been its Chairman since 2015. He served as the President at New Jersey Natural Gas Company till 2018. He serves as the President and Chief Executive Officer of NJR Clean Energy Ventures, NJR Energy Services, NJR Midstream and NJR Service Corporation. He served as the President of New Jersey Resources Corporation since July 1995 until September 30, 2018 and serves as its Chief Executive Officer since July 1995. He has been a Director at New Jersey Resources Corporation since 1995. He serves as the Chairman of John J. Heldrich Center for Workforce Development’s National Advisory Board and Member of National Petroleum Council. Mr. Downes is a Director of the American Gas Association, Trustee of the American Gas Foundation, and a Member of the Board of Directors of the New Jersey Economic Development Authority and the John J. Heldrich Center for Workforce Development’s National Advisory Board at Rutgers University and serves as a member of the Board of Horizon Blue Cross Blue Shield of New Jersey. Mr. Downes served as a Director of Energen Corporation since May 2017 until June 4, 2018. He is Chair of Drumthwacket Foundation. Mr. Downes provides the Board with strong leadership and direction and a considerable amount of experience. He served as a Director of Questar Corporation from 2010 to September 2016. His years of service on the Board, he has developed extensive knowledge in the areas of leadership, strategy, safety, risk oversight, management and corporate governance, each of which provides great value to the Board. He served as Chairman of the American Gas Association, Trustee of the American Gas Foundation and the Natural Gas Council. Mr. Downes is a Graduate of Iona College with B.B.A. in Finance and M.B.A. and an alumnus of Harvard Business School’s Advanced Management Program.

CEO Compensation
  • Larry's compensation has been consistent with company performance over the past year.
  • Larry's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the New Jersey Resources management team in years:

3.3
Average Tenure
52
Average Age
  • The tenure for the New Jersey Resources management team is about average.
Management Team

Larry Downes

TITLE
Chairman & CEO
COMPENSATION
$5M
AGE
61
TENURE
23.8 yrs

Steve Westhoven

TITLE
President
COMPENSATION
$2M
AGE
50
TENURE
0.5 yrs

Pat Migliaccio

TITLE
Senior VP & CFO
COMPENSATION
$1M
AGE
44
TENURE
3.3 yrs

Nancy Washington

TITLE
Senior VP & General Counsel
COMPENSATION
$852K
AGE
54
TENURE
2.1 yrs

Amanda Mullan

TITLE
Senior VP & Chief HR Officer
COMPENSATION
$965K
AGE
52
TENURE
4 yrs

Jaqueline Shea

TITLE
VP & Chief Information Officer
AGE
54
TENURE
2.8 yrs

Dennis Puma

TITLE
Director of Investor Relations

Laura Conover

TITLE
Chief Communications Officer & Chief of Staff
AGE
50
TENURE
1.5 yrs

Glenn Lockwood

TITLE
Executive Vice President
COMPENSATION
$1M
AGE
57
TENURE
23.3 yrs

Jamie Kent

TITLE
Treasurer
AGE
49
TENURE
6.3 yrs
Board of Directors Tenure

Average tenure and age of the New Jersey Resources board of directors in years:

13.1
Average Tenure
69
Average Age
  • The average tenure for the New Jersey Resources board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Steve Westhoven

TITLE
President
COMPENSATION
$2M
AGE
50
TENURE
0.6 yrs

J. Strange

TITLE
Director
COMPENSATION
$209K
AGE
74
TENURE
16.3 yrs

Larry Downes

TITLE
Chairman & CEO
COMPENSATION
$5M
AGE
61
TENURE
22.6 yrs

Jane Kenny

TITLE
Director
COMPENSATION
$210K
AGE
67
TENURE
12.6 yrs

Don Correll

TITLE
Lead Director
COMPENSATION
$233K
AGE
68
TENURE
1.3 yrs

Sharon Taylor

TITLE
Director
COMPENSATION
$227K
AGE
63
TENURE
6.4 yrs

George Zoffinger

TITLE
Independent Director
COMPENSATION
$222K
AGE
70
TENURE
23.3 yrs

Dave Trice

TITLE
Director
COMPENSATION
$194K
AGE
70
TENURE
15.1 yrs

M. Howard

TITLE
Director
COMPENSATION
$203K
AGE
72
TENURE
13.6 yrs

Bobby Evans

TITLE
Director
COMPENSATION
$209K
AGE
70
TENURE
9.6 yrs
Who owns this company?
Recent Insider Trading
  • New Jersey Resources insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
26. Mar 19 Sell M. Howard Individual 25. Mar 19 25. Mar 19 -1,000 €44.35 €-44,347
22. Mar 19 Sell Jane Kenny Individual 21. Mar 19 21. Mar 19 -3,000 €43.75 €-131,243
20. Mar 19 Sell Patrick Migliaccio Individual 18. Mar 19 18. Mar 19 -2,068 €44.07 €-91,147
20. Mar 19 Sell J. Strange Individual 18. Mar 19 18. Mar 19 -35,000 €44.02 €-1,540,608
20. Mar 19 Sell David Trice Individual 19. Mar 19 19. Mar 19 -20,000 €43.41 €-868,137
28. Nov 18 Sell M. Howard Individual 27. Nov 18 27. Nov 18 -1,000 €42.42 €-42,424
X
Management checks
We assess New Jersey Resources's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. New Jersey Resources has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

New Jersey Resources Corporation, an energy services holding company, provides regulated gas distribution, and retail and wholesale energy services. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Midstream segments. The Natural Gas Distribution segment offers regulated retail natural gas services to approximately 538,700 residential and commercial customers in central and northern New Jersey; provides storage management services; and participates in the off-system sales and capacity release markets. The Clean Energy Ventures segment invests in commercial and residential solar projects located in New Jersey; and onshore wind projects. The Energy Services segment provides unregulated wholesale energy management services to other energy companies and natural gas producers, as well as maintains and transacts a portfolio of physical assets consisting of natural gas storage and transportation contracts in the United States and Canada. The Midstream segment invests in natural gas transportation and storage facilities. The company offers heating, ventilation, and cooling services; holds commercial real estate properties; and provides solar equipment installation, and plumbing repair and installation services, as well as engages in the water appliance sale, installation, and servicing activities. New Jersey Resources Corporation was founded in 1922 and is based in Wall, New Jersey.

Details
Name: New Jersey Resources Corporation
NJ1
Exchange: DB
Founded: 1922
$3,859,620,359
88,772,393
Website: http://www.njresources.com
Address: New Jersey Resources Corporation
1415 Wyckoff Road,
Wall,
New Jersey, 07719,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE NJR Common Stock New York Stock Exchange US USD 02. Jan 1969
DB NJ1 Common Stock Deutsche Boerse AG DE EUR 02. Jan 1969
Number of employees
Current staff
Staff numbers
1,068
New Jersey Resources employees.
Industry
Gas Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 21:14
End of day share price update: 2019/04/24 00:00
Last estimates confirmation: 2019/04/23
Last earnings filing: 2019/02/06
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/09/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.