Declared Dividend • May 20
Second quarter dividend of US$0.47 announced Shareholders will receive a dividend of US$0.47. Ex-date: 10th June 2026 Payment date: 1st July 2026 Dividend yield will be 3.5%, which is lower than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (55% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 19% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • May 06
New Jersey Resources Corporation Raises Earnings Guidance for the Fiscal Year 2026 New Jersey Resources Corporation raised earnings guidance for the fiscal year 2026. Increases fiscal 2026 net financial earnings per share (NFEPS) guidance to a range of $3.48 to $3.63, from $3.28 to $3.43, a $0.20 increase, as a result of the continued strong performance of Energy Services. This marks the second increase to fiscal 2026 guidance, following a $0.25 increase announced in February 2026. Maintains 7% to 9 % long-term net financial earnings per share (NFEPS) growth target, starting from a fiscal 2025 base of $2.83 per share (7% - 9% growth would imply a NFEPS range of $3.03 - $3.08 in fiscal 2026). Duyuru • Apr 16
New Jersey Resources Corporation Declares Quarterly Dividend on Common Stock, Payable on July 1, 2026 The board of directors of New Jersey Resources Corporation unanimously declared a quarterly dividend on its common stock of $0.475 per share. The dividend will be payable on July 1, 2026, to shareowners of record as of June 10, 2026. Duyuru • Apr 08
New Jersey Resources Corporation to Report Q2, 2026 Results on May 04, 2026 New Jersey Resources Corporation announced that they will report Q2, 2026 results After-Market on May 04, 2026 Duyuru • Feb 03
New Jersey Resources Corporation Revises Earnings Guidance for the Fiscal Year 2026 New Jersey Resources Corporation revised earnings guidance for the fiscal year 2026. Increases fiscal 2026 net financial earnings per share (NFEPS) guidance to a range of $3.28 to $3.43, from $3.03 to $3.18, a $0.25 increase, as a result of the strong performance of Energy Services in January 2026. The company maintains 7% to 9% long-term net financial earnings per share (NFEPS) growth target, starting from a fiscal 2025 base of $2.83 per share. 7% - 9% growth would imply a NFEPS range of $3.03 - $3.08 in fiscal 2026. Duyuru • Jan 22
New Jersey Resources Corporation Declares Quarterly Dividend Payable on April 1, 2026 The board of directors of New Jersey Resources Corporation unanimously declared a quarterly dividend on its common stock of $0.475 per share. The dividend will be payable on April 1, 2026, to shareowners of record as of March 11, 2026. Duyuru • Jan 21
New Jersey Resources Corporation Announces Retirement of Donald L. Correll, as Member and Chair of Board New Jersey Resources Corporation announced at the Annual Meeting, Donald L. Correll, a longstanding member and Chair of NJR’s Board, retired after 17 years of dedicated service. Thomas C. O’Connor will succeed Mr. Correll as Board Chair. Mr. Correll joined NJR’s Board of Directors in 2008 and was a member of the Audit and Leadership Development and Compensation Committees and Chair of the Executive Committee. In 2020, he was named Chair of the Board and served with distinction throughout his tenure. Duyuru • Jan 06
New Jersey Resources Corporation to Report Q1, 2026 Results on Feb 02, 2026 New Jersey Resources Corporation announced that they will report Q1, 2026 results After-Market on Feb 02, 2026 Duyuru • Dec 11
New Jersey Resources Corporation, Annual General Meeting, Jan 21, 2026 New Jersey Resources Corporation, Annual General Meeting, Jan 21, 2026. Duyuru • Nov 20
New Jersey Resources Corporation Provides Earnings Guidance for the Fiscal Year 2026 New Jersey Resources Corporation provided earnings guidance for the fiscal year 2026. For the year, the company maintains 7 to 9% long-term NFEPS growth target, starting from a fiscal 2025 base of $2.83 per share. Introduces fiscal 2026 NFEPS guidance range of $3.03 to $3.18. Duyuru • Nov 13
New Jersey Resources Corporation Announces Executive Changes, Effective January 1, 2026 New Jersey Resources Corporation (NJR) announced executive and senior leadership promotions at NJR and New Jersey Natural Gas (NJNG) that position the company to execute on its growth strategy, sustainability goals and investment priorities. All changes are effective January 1, 2026. Stephen Skrocki, NJR’s Corporate Controller, will become NJR’s Chief Risk Officer. Chris D’Antuono, NJR’s Director of Financial Planning and Analysis, will be promoted to Corporate Controller, succeeding Mr. Skrocki in that role. Mark Kahrer, Senior Vice President of Regulatory and External Affairs, will be retiring in late 2026. Jamie Kent, Chief Risk Officer, will step down from his role as Chief Risk Officer at the end of 2025 and retire during fiscal 2026. Stephen Skrocki joined NJR in 2017 as the Assistant Corporate Controller and was promoted to Corporate Controller in 2021 and Principal Accounting Officer in 2023. He is responsible for leading NJR’s accounting function, including oversight of financial reporting, maintenance of internal controls and compliance with regulatory standards. Chris D’Antuono joined NJR in 2015 and served as Manager of Technical Accounting and Director of Technical Accounting, before being promoted to Director of Financial Planning and Analysis in 2020. Prior to joining NJR, Chris worked at Ernst & Young LLP and EisnerAmper LLP. Duyuru • Nov 06
New Jersey Resources Corporation Declares Quarterly Dividend, Payable on January 2, 2026 New Jersey Resources Corporation's board of directors has unanimously declared a quarterly dividend on its common stock of $0.475 per share. The dividend will be payable on January 2, 2026, to shareowners of record as of December 12, 2025. Duyuru • Oct 16
New Jersey Resources Corporation to Report Q4, 2025 Results on Nov 19, 2025 New Jersey Resources Corporation announced that they will report Q4, 2025 results After-Market on Nov 19, 2025 Duyuru • Aug 05
New Jersey Resources Corporation Revises Earnings Guidance for the Fiscal Year 2025 New Jersey Resources Corporation revised earnings guidance for the fiscal year 2025. The company raised lower end of fiscal 2025 net financial earnings per share (NFEPS) guidance by $0.05, from a prior range of $3.15 - $3.30 to a range of $3.20 to $3.30. Duyuru • Jul 08
New Jersey Resources Corporation to Report Q3, 2025 Results on Aug 04, 2025 New Jersey Resources Corporation announced that they will report Q3, 2025 results After-Market on Aug 04, 2025 Duyuru • May 06
New Jersey Resources Corporation Revises Earnings Guidance for the Fiscal Year 2025 New Jersey Resources Corporation revised earnings guidance for the fiscal year 2025. The company increases fiscal 2025 net financial earnings per share (NFEPS) guidance to a range of $3.15 to $3.30, from $3.05 to $3.20, a $0.10 increase, as a result of outperformance from Energy Services during the winter period. Maintains 7% to 9% long-term NFEPS growth target, based off of a target of $2.83 per share for fiscal 2025. Duyuru • Apr 21
New Jersey Resources Corporation Elects William T. Yardley as Director, Effective as of July 1, 2025 The board of directors of New Jersey Resources announced the unanimous election of William T. Yardley to the board, effective July 1, 2025. Mr. Yardley will stand for re-election as a director at NJR’s next Annual Meeting of Shareowners. Mr. Yardley is chief executive officer of the Portland Natural Gas Transmission System (PNGTS), a natural gas pipeline company that serves constrained energy markets in the northeast US. Prior to joining PNGTS, he was executive vice president and president of gas transmission and midstream at Enbridge Inc., where he was responsible for directing growth opportunities, leading regulatory strategy, improving pipeline integrity and safety practices and aligning operations with the energy transition across 17 natural gas pipeline systems and storage assets in the U.S. and Canada. He also previously served as president of US transmission at Spectra Energy, group vice president of transmission at Duke Energy and vice president of marketing at Boston Gas Company. Mr. Yardley is an independent director for Enbridge Gas Inc. and a director of GTI Energy and the Northeast Gas Association. Previously he was chair of the board of Interstate Gas Association of America, and a member of the boards of Spectra Energy Partners, DCP Midstream and the United Way of Greater Houston. He received a Bachelor of Arts degree in Economics from Colby College and a Master’s degree in Business Administration from Northeastern University. He is also a graduate of Harvard University’s Advanced Management Program. Duyuru • Apr 17
New Jersey Resources Corporation Declares Quarterly Dividend, Payable on July 1, 2025 New Jersey Resources Corporation announced that the board of directors of the company unanimously declared a quarterly dividend on its common stock of $0.45 per share. The dividend will be payable on July 1, 2025, to shareowners of record as of June 10, 2025. Duyuru • Apr 08
New Jersey Resources Corporation to Report Q2, 2025 Results on May 05, 2025 New Jersey Resources Corporation announced that they will report Q2, 2025 results at 4:00 PM, US Eastern Standard Time on May 05, 2025 Duyuru • Feb 04
New Jersey Resources Corporation Provides Earnings Guidance for the Fiscal Year 2025 New Jersey Resources Corporation provided earnings guidance for the fiscal year 2025. For the year, the company maintains 7% to 9% long-term net financial earnings per share (NFEPS) growth target, based off of a target of $2.83 per share for fiscal 2025. Maintains fiscal 2025 NFEPS guidance range of $3.05 to $3.20, which is higher than the range implied by long-term NFEPS growth target as a result of the one-time gain from the sale of CEV's residential solar portfolio. Duyuru • Jan 22
New Jersey Resources Board of Directors Declares Quarterly Dividend on Common Stock, Payable on April 1, 2025 The board of directors of New Jersey Resources Corporation unanimously declared a quarterly dividend on its common stock of $0.45 per share. The dividend will be payable on April 1, 2025, to shareowners of record as of March 11, 2025. NJR has paid quarterly dividends continuously since its inception in 1952, and has raised the dividend every year for the last 29 years. Duyuru • Jan 14
New Jersey Resources Corporation to Report Q1, 2025 Results on Feb 03, 2025 New Jersey Resources Corporation announced that they will report Q1, 2025 results After-Market on Feb 03, 2025 Buy Or Sell Opportunity • Jan 03
Now 21% undervalued Over the last 90 days, the stock has risen 5.3% to €43.80. The fair value is estimated to be €55.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to grow by 5.3% per annum. Earnings are also forecast to grow by 7.1% per annum over the same time period. Duyuru • Dec 12
New Jersey Resources Corporation, Annual General Meeting, Jan 21, 2025 New Jersey Resources Corporation, Annual General Meeting, Jan 21, 2025. Duyuru • Nov 26
New Jersey Resources Corporation Provides Dividend Guidance for the Fiscal Year 2025 New Jersey Resources Corporation provided dividend guidance for the fiscal year 2025. The company increased fiscal 2025 dividend by 7.1% to $1.80 per share. Declared Dividend • Nov 12
Third quarter dividend of US$0.45 announced Shareholders will receive a dividend of US$0.45. Ex-date: 11th December 2024 Payment date: 2nd January 2025 Dividend yield will be 3.7%, which is lower than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (70% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Nov 08
New Jersey Resources Corporation Declares Quarterly Dividend, Payable on January 2, 2025 The board of directors of New Jersey Resources Corporation unanimously declared a quarterly dividend on its common stock of $0.45 per share. The dividend will be payable on January 2, 2025, to shareowners of record as of December 11, 2024. Duyuru • Oct 15
New Jersey Resources Corporation to Report Q4, 2024 Results on Nov 25, 2024 New Jersey Resources Corporation announced that they will report Q4, 2024 results at 4:00 PM, US Eastern Standard Time on Nov 25, 2024 Declared Dividend • Sep 16
Third quarter dividend of US$0.45 announced Shareholders will receive a dividend of US$0.45. Ex-date: 23rd September 2024 Payment date: 1st October 2024 Dividend yield will be 3.9%, which is lower than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (70% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 25% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Sep 09
Now 20% undervalued Over the last 90 days, the stock has risen 3.0% to €41.40. The fair value is estimated to be €51.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.6% over the last 3 years. Earnings per share has grown by 21%. For the next 3 years, revenue is forecast to grow by 6.8% per annum. Earnings are also forecast to grow by 8.3% per annum over the same time period. Reported Earnings • Aug 07
Third quarter 2024 earnings released: US$0.12 loss per share (vs US$0.016 profit in 3Q 2023) Third quarter 2024 results: US$0.12 loss per share (down from US$0.016 profit in 3Q 2023). Revenue: US$275.6m (up 4.4% from 3Q 2023). Net loss: US$11.6m (down US$13.1m from profit in 3Q 2023). Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Duyuru • Aug 06
New Jersey Resources Corporation Reaffirms Earnings Guidance for the Year 2024 New Jersey Resources Corporation reaffirms earnings guidance for the year 2024. For the year, the company expects net financial earnings per share (NFEPS) guidance range of $2.85 to $3.00, which was increased by $0.15 in February 2024 as a result of strong performance from Energy Services. Recent Insider Transactions • Jun 16
Independent Director recently sold €327k worth of stock On the 14th of June, Jane Kenny sold around 8k shares on-market at roughly €39.45 per share. This transaction amounted to 26% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €589k more than they bought in the last 12 months. Upcoming Dividend • Jun 05
Upcoming dividend of US$0.42 per share Eligible shareholders must have bought the stock before 12 June 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 65% but the company is paying out more than the cash it is generating. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (6.4%). Duyuru • May 08
New Jersey Resources Corporation Provides Earnings Guidance for the Fiscal Year 2024 New Jersey Resources Corporation provided earnings guidance for the Fiscal year 2024. The company introduces fiscal 2024 net financial earnings per share (NFEPS) guidance range of $2.85 to $3.00 which was increased by $0.15 in February 2024, subject to the risks and uncertainties identified. Reported Earnings • May 07
Second quarter 2024 earnings released: EPS: US$1.23 (vs US$1.14 in 2Q 2023) Second quarter 2024 results: EPS: US$1.23 (up from US$1.14 in 2Q 2023). Revenue: US$657.9m (up 2.2% from 2Q 2023). Net income: US$120.8m (up 9.6% from 2Q 2023). Profit margin: 18% (up from 17% in 2Q 2023). Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Declared Dividend • Apr 23
First quarter dividend of US$0.42 announced Shareholders will receive a dividend of US$0.42. Ex-date: 12th June 2024 Payment date: 1st July 2024 Dividend yield will be 3.9%, which is lower than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (66% earnings payout ratio) but not covered by cash flows (112% cash payout ratio). The dividend has increased by an average of 7.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 25% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Apr 19
New Jersey Resources Corporation Declares Quarterly Dividend on its Common Stock, Payable on July 1, 2024 The board of directors of New Jersey Resources Corporation declared a quarterly dividend on its common stock of $0.42 per share. The dividend will be payable on July 1, 2024, to shareowners of record as of June 12, 2024. Upcoming Dividend • Mar 05
Upcoming dividend of US$0.42 per share Eligible shareholders must have bought the stock before 12 March 2024. Payment date: 01 April 2024. Payout ratio is a comfortable 66% but the company is paying out more than the cash it is generating. Trailing yield: 4.0%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (6.9%). Buy Or Sell Opportunity • Feb 24
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.5% to €38.40. The fair value is estimated to be €48.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.0% over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to grow by 6.5% per annum. Earnings are also forecast to grow by 8.2% per annum over the same time period. Buy Or Sell Opportunity • Feb 09
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.6% to €37.40. The fair value is estimated to be €47.08, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.0% over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to grow by 6.5% per annum. Earnings are also forecast to grow by 8.2% per annum over the same time period. Reported Earnings • Feb 07
First quarter 2024 earnings released: EPS: US$0.91 (vs US$1.20 in 1Q 2023) First quarter 2024 results: EPS: US$0.91 (down from US$1.20 in 1Q 2023). Revenue: US$467.2m (down 35% from 1Q 2023). Net income: US$89.4m (down 23% from 1Q 2023). Profit margin: 19% (up from 16% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 1.2% decline forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Duyuru • Feb 06
New Jersey Resources Corporation Revises Earnings Guidance for the Fiscal Year 2024 New Jersey Resources Corporation revised earnings guidance for the fiscal year 2024. The company increased fiscal 2024 net financial earnings per share (NFEPS) guidance range to $2.85 to $3.00, from $2.70 to $2.85, a $0.15 increase, as a result of strong performance from Energy Services in January 2024, the beginning of the fiscal second quarter; maintains long-term projected NFEPS growth rate of 7% to 9%. Duyuru • Jan 30
New Jersey Resources Corporation Announces Retirement of George R. Zoffinger from the Board The Annual Meeting of Shareowners of New Jersey Resources Corporation (“NJR”) was held on January 24, 2024. George R. Zoffinger, who has been a director since 1996 and whose term expired at the Meeting, has reached the mandatory retirement age under NJR’s current director retirement policy and did not stand for reelection. Therefore, the Board was reduced in size to 10 members as of the conclusion of the Annual Meeting. Declared Dividend • Jan 29
Fourth quarter dividend of US$0.42 announced Shareholders will receive a dividend of US$0.42. Ex-date: 12th March 2024 Payment date: 1st April 2024 Dividend yield will be 4.1%, which is lower than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (58% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 19% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Jan 25
New Jersey Resources Corporation Declares a Quarterly Dividend, Payable on April 1, 2024 The board of directors of New Jersey Resources Corporation unanimously declared a quarterly dividend on its common stock of $0.42 per share. The dividend will be payable on April 1, 2024, to shareowners of record as of March 13, 2024. Upcoming Dividend • Dec 05
Upcoming dividend of US$0.42 per share at 3.8% yield Eligible shareholders must have bought the stock before 12 December 2023. Payment date: 02 January 2024. Payout ratio is a comfortable 58% but the company is not cash flow positive. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (5.2%). Reported Earnings • Nov 23
Full year 2023 earnings released: EPS: US$2.73 (vs US$2.86 in FY 2022) Full year 2023 results: EPS: US$2.73 (down from US$2.86 in FY 2022). Revenue: US$1.96b (down 32% from FY 2022). Net income: US$264.7m (down 3.7% from FY 2022). Profit margin: 14% (up from 9.5% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 2.4% decline forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Duyuru • Nov 17
New Jersey Resources Declares Quarterly Dividend, Payable on January 2, 2024 New Jersey Resources Corporation unanimously declared a quarterly dividend on its common stock of $0.42 per share. The dividend will be payable on January 2, 2024, to shareowners of record as of December 13, 2023. The Company is committed to providing value to its shareowners with a competitive return and has paid quarterly dividends continuously since its inception in 1952. Board Change • Oct 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 4 highly experienced directors. Director Mike O'Sullivan was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Sep 12
Upcoming dividend of US$0.42 per share at 3.7% yield Eligible shareholders must have bought the stock before 19 September 2023. Payment date: 02 October 2023. Payout ratio is a comfortable 53% but the company is not cash flow positive. Trailing yield: 3.7%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (5.1%). Duyuru • Sep 08
New Jersey Resources Corporation Approves Quarterly Dividend, Payable on October 2, 2023 The board of directors of New Jersey Resources Corporation unanimously approved a 7.7% increase in the quarterly dividend rate to $0.42 per share from $0.39 per share. The new quarterly rate will be effective with the dividend payable October 2, 2023 to shareowners of record on September 20, 2023. This dividend replaces the previously announced dividend of $0.39 per share approved on July 12, 2023 for shareowners of record on September 20, 2023. Duyuru • Aug 04
New Jersey Resources Corporation Re-Affirms Earnings Guidance for the Fiscal 2023 New Jersey Resources Corporation re-affirmed earnings guidance for the fiscal 2023. For the period, Company expects NFE guidance range of $2.62 to $2.72, which was increased by $0.20 per share in the first quarter of fiscal 2023. Reported Earnings • Aug 03
Third quarter 2023 earnings released: EPS: US$0.016 (vs US$0.14 in 3Q 2022) Third quarter 2023 results: EPS: US$0.016 (down from US$0.14 in 3Q 2022). Revenue: US$264.1m (down 52% from 3Q 2022). Net income: US$1.53m (down 88% from 3Q 2022). Profit margin: 0.6% (down from 2.4% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 1.4% decline forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Duyuru • Jul 13
New Jersey Resources Corporation Declares Quarterly Dividend on Its Common Stock, Payable on October 2, 2023 The board of directors of New Jersey Resources Corporation unanimously declared a quarterly dividend on its common stock of $0.39 per share. The dividend will be payable on October 2, 2023, to shareowners of record as of September 20, 2023. Upcoming Dividend • Jun 06
Upcoming dividend of US$0.39 per share at 3.2% yield Eligible shareholders must have bought the stock before 13 June 2023. Payment date: 03 July 2023. Payout ratio is a comfortable 50% but the company is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (4.6%). Recent Insider Transactions • May 16
President recently sold €230k worth of stock On the 12th of May, Stephen Westhoven sold around 5k shares on-market at roughly €46.08 per share. This transaction amounted to 2.7% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Stephen's only on-market trade for the last 12 months. Reported Earnings • May 05
Second quarter 2023 earnings released: EPS: US$1.14 (vs US$1.00 in 2Q 2022) Second quarter 2023 results: EPS: US$1.14 (up from US$1.00 in 2Q 2022). Revenue: US$644.0m (down 29% from 2Q 2022). Net income: US$110.2m (up 15% from 2Q 2022). Profit margin: 17% (up from 11% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 14% per year. Upcoming Dividend • Mar 07
Upcoming dividend of US$0.39 per share at 3.0% yield Eligible shareholders must have bought the stock before 14 March 2023. Payment date: 03 April 2023. Payout ratio is a comfortable 52% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (4.7%). Reported Earnings • Feb 04
First quarter 2023 earnings released: EPS: US$1.20 (vs US$1.16 in 1Q 2022) First quarter 2023 results: EPS: US$1.20 (up from US$1.16 in 1Q 2022). Revenue: US$723.6m (up 7.1% from 1Q 2022). Net income: US$115.9m (up 4.1% from 1Q 2022). Profit margin: 16% (in line with 1Q 2022). Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 8% per year. Duyuru • Feb 03
New Jersey Resources Corporation Revises Earnings Forecast for the Fiscal Year 2023 New Jersey Resources Corporation revised earnings forecast for the fiscal year 2023. For the period, the company net financial earnings per share (NFEPS) guidance to a range of $2.62 to $2.72, from $2.42 to $2.52, a $0.20 increase. Duyuru • Dec 24
New Jersey Resources Corporation Announces Executive Promotions On November 10, 2022, the Board of Directors (the “Board”) of New Jersey Resources Corporation (“NJR”), appointed Stephen Skrocki to serve as Principal Accounting Officer of the Company, effective January 1, 2023. Mr. Skrocki, age 47, joined the company in 2017 as Assistant Corporate Controller and was promoted to Corporate Controller in 2021 with responsibility for NJR's accounting functions. NJR’s Senior Vice President and Chief Financial Officer, Roberto Bel, who is currently serving as both Principal Financial Officer and Principal Accounting Officer, will continue to serve as NJR’s Principal Financial Officer. Jacqueline K. Shea has been promoted to Senior Vice President and Chief Information Officer. Ms. Shea joined NJR in 2016 as Vice President and Chief Information Officer after serving more than three decades in the IT field. In this senior leadership role, she leads the digital transformation strategy and is responsible for overseeing the enterprise-wide modernization of NJR’s digital business applications and IT infrastructure in alignment with its core business strategies. Ms. Shea also leads the investment, planning and management of the company’s IT portfolio, including cyber security, information infrastructure, internet and business applications, technology innovation and overall end-user support. Stephen Skrocki, Corporate Controller, was named Principal Accounting Officer and a member of NJR’s leadership team. Mr. Skrocki joined the company in 2017 as Assistant Corporate Controller and was promoted to Corporate Controller in 2021 with responsibility for NJR’s accounting functions. Previously, Mr. Skrocki served in a variety of roles of increasing responsibility, most recently as Audit Director, at BDO USA, a leading provider of assurance, tax and advisory services. Upcoming Dividend • Dec 06
Upcoming dividend of US$0.39 per share Eligible shareholders must have bought the stock before 13 December 2022. Payment date: 03 January 2023. Payout ratio is a comfortable 52% but the company is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (5.5%). Recent Insider Transactions • Nov 25
Insider recently sold €144k worth of stock On the 22nd of November, Patrick Migliaccio sold around 3k shares on-market at roughly €47.84 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €123k more than they bought in the last 12 months. Reported Earnings • Nov 18
Full year 2022 earnings released: EPS: US$2.86 (vs US$1.23 in FY 2021) Full year 2022 results: EPS: US$2.86 (up from US$1.23 in FY 2021). Revenue: US$2.91b (up 35% from FY 2021). Net income: US$274.9m (up 133% from FY 2021). Profit margin: 9.5% (up from 5.5% in FY 2021). The increase in margin was driven by higher revenue. Revenue is expected to fall by 5.1% p.a. on average during the next 3 years compared to a 2.6% decline forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 4% per year. Duyuru • Nov 11
New Jersey Resources Corporation Declares Quarterly Dividend New Jersey Resources Corporation unanimously declared a quarterly dividend on its common stock of $0.39 per share. The dividend will be payable on January 3, 2023, to shareowners of record as of December 14, 2022. Duyuru • Nov 08
New Jersey Resources Names Lori Delgiudice Senior Vice President of Human Resources New Jersey Resources announced the appointment of Lori DelGiudice to the position of Senior Vice President of Human Resources (HR) effective November 7, 2022. Ms. DelGiudice, a career HR professional with more than 20 years of experience, will be responsible for designing, implementing and overseeing NJR’s human capital management strategies and programs to maximize the potential and effectiveness of a diverse and growing workforce. Her responsibilities will include labor and employee relations, professional development and training, strategic workforce planning and compensation and benefits initiatives. Ms. DelGiudice joins NJR from Honeywell International, where she served as Vice President-HR for Advanced Materials for the Performance and Technologies division, overseeing HR strategy and operations for a global workforce of over 3,200 employees. Over a 16-year career at Honeywell, Ms. DelGiudice held HR management positions of increasing responsibility, including Global HR Director for Advanced Materials and Global HR Manager for Corporate Functions. Her responsibilities and accomplishments included leadership in business transformation, mergers and integrations, talent management and acquisition for diverse business segments, labor relations, and driving Diversity, Equity and Inclusion. Ms. DelGiudice holds a master’s degree in HR Management and a bachelor of science in Management from Rutgers University. Upcoming Dividend • Sep 16
Upcoming dividend of US$0.36 per share Eligible shareholders must have bought the stock before 23 September 2022. Payment date: 03 October 2022. Payout ratio is a comfortable 64% but the company is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (4.8%). Reported Earnings • Aug 06
Third quarter 2022 earnings released: EPS: US$0.14 (vs US$1.16 loss in 3Q 2021) Third quarter 2022 results: EPS: US$0.14 (up from US$1.16 loss in 3Q 2021). Revenue: US$552.3m (up 50% from 3Q 2021). Net income: US$13.1m (up US$124.9m from 3Q 2021). Profit margin: 2.4% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Over the next year, revenue is expected to shrink by 14% compared to a 11% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 3% per year. Duyuru • Aug 06
New Jersey Resources Corporation Revises Earnings Guidance for the Year 2022 New Jersey Resources Corporation revised earnings guidance for the year 2022. For the year, the company increasing fiscal 2022 NFEPS guidance to $2.40 to $2.50 a share compared to previous range of $2.30 to $2.40 per share. Duyuru • Jul 15
New Jersey Resources Corporation Declares Quarterly Dividend, Payable on October 3, 2022 The board of directors of New Jersey Resources Corporation unanimously declared a quarterly dividend on its common stock of $0.3625 per share. The dividend will be payable on October 3, 2022, to shareowners of record as of September 26, 2022. Duyuru • Jun 14
New Jersey Resources Corporation Announces the Resignation of Amanda E. Mullan as Chief Human Resources Officer, Effective July 1, 2022 On June 9, 2022, Amanda E. Mullan, Senior Vice President and Chief Human Resources Officer of New Jersey Resources Corporation resigned from her position effective July 1, 2022, to pursue another professional opportunity. Upcoming Dividend • Jun 07
Upcoming dividend of US$0.36 per share Eligible shareholders must have bought the stock before 14 June 2022. Payment date: 01 July 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (4.2%). Lower than average of industry peers (4.9%). Recent Insider Transactions • May 25
Insider recently sold €115k worth of stock On the 19th of May, Patrick Migliaccio sold around 3k shares on-market at roughly €42.74 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €434k more than they bought in the last 12 months. Reported Earnings • May 06
Second quarter 2022 earnings released: EPS: US$1.00 (vs US$1.56 in 2Q 2021) Second quarter 2022 results: EPS: US$1.00 (down from US$1.56 in 2Q 2021). Revenue: US$912.3m (up 14% from 2Q 2021). Net income: US$96.0m (down 36% from 2Q 2021). Profit margin: 11% (down from 19% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is expected to shrink by 10% compared to a 6.3% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 1% per year and the company’s share price has also fallen by 1% per year. Duyuru • May 06
New Jersey Resources Corporation Revises Earnings Guidance for the Fiscal 2022 New Jersey Resources Corporation revised earnings guidance for the fiscal 2022. The company increased fiscal 2022 net financial earnings per share (NFEPS) guidance range to $2.30 to $2.40 from the previously announced range of $2.20 to $2.30. Duyuru • Apr 21
New Jersey Resources Corporation Declares Quarterly Dividend, Payable on July1, 2022 The board of directors of New Jersey Resources Corporation unanimously declared a quarterly dividend on its common stock of $0.3625 per share. The dividend will be payable on July 1, 2022, to shareowners of record as of June 15, 2022. Upcoming Dividend • Mar 08
Upcoming dividend of US$0.36 per share Eligible shareholders must have bought the stock before 15 March 2022. Payment date: 01 April 2022. Payout ratio is on the higher end at 90% but the company is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of German dividend payers (3.6%). Lower than average of industry peers (5.6%). Duyuru • Feb 04
New Jersey Resources Corporation Reaffirms Earnings Guidance for the Fiscal 2022 New Jersey Resources Corporation reaffirmed earnings guidance for the fiscal 2022. The company reaffirmed fiscal 2022 net financial earnings guidance of $2.20 to $2.30 per share. Upcoming Dividend • Dec 08
Upcoming dividend of US$0.36 per share Eligible shareholders must have bought the stock before 14 December 2021. Payment date: 03 January 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.7%. Within top quartile of German dividend payers (3.4%). Lower than average of industry peers (5.4%). Recent Insider Transactions • Dec 02
Independent Director recently bought €135k worth of stock On the 29th of November, James DeGraffenreidt bought around 4k shares on-market at roughly €33.75 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold €624k more in shares than they bought in the last 12 months. Reported Earnings • Nov 19
Full year 2021 earnings released: EPS US$1.23 (vs US$2.05 in FY 2020) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2021 results: Revenue: US$2.16b (up 10% from FY 2020). Net income: US$117.9m (down 39% from FY 2020). Profit margin: 5.5% (down from 9.9% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 7% per year. Board Change • Oct 31
High number of new directors Independent Director M. Hardwick was the last director to join the board, commencing their role in 2020. Upcoming Dividend • Sep 10
Upcoming dividend of US$0.33 per share Eligible shareholders must have bought the stock before 17 September 2021. Payment date: 01 October 2021. Trailing yield: 3.9%. Within top quartile of German dividend payers (3.2%). Lower than average of industry peers (6.0%). Reported Earnings • Aug 08
Third quarter 2021 earnings released: US$1.16 loss per share (vs US$0.20 loss in 3Q 2020) The company reported a soft third quarter result with increased losses and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: US$367.6m (up 23% from 3Q 2020). Net loss: US$111.8m (loss widened 480% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 7% per year, which means it is performing significantly worse than earnings. Recent Insider Transactions • Jun 28
Insider recently sold €346k worth of stock On the 23rd of June, Timothy Shea sold around 10k shares on-market at roughly €34.62 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €759k more than they bought in the last 12 months. Upcoming Dividend • Jun 08
Upcoming dividend of US$0.33 per share Eligible shareholders must have bought the stock before 15 June 2021. Payment date: 01 July 2021. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (6.0%). Recent Insider Transactions • May 29
Independent Director recently sold €108k worth of stock On the 27th of May, M. Howard sold around 3k shares on-market at roughly €35.09 per share. In the last 3 months, they made an even bigger sale worth €188k. Insiders have been net sellers, collectively disposing of €413k more than they bought in the last 12 months. Executive Departure • May 11
Senior VP & General Counsel has left the company On the 3rd of May, Nancy Washington's tenure as Senior VP & General Counsel ended after 4.1 years in the role. As of December 2020, Nancy personally held 4.78k shares (€137k worth at the time). Nancy is the only executive to leave the company over the last 12 months. Duyuru • May 07
New Jersey Resources Corporation reaffirms Earnings Guidance for the Fiscal Year 2021 New Jersey Resources Corporation reaffirmed earnings guidance for the fiscal year 2021. For the year, the company increased NFE guidance to a range of $2.05 to $2.15. 
