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NewJersey Resources (NJR) Company Profile

Updated Sep 9, 2019
NewJersey Resources has the following business profile:
Company's Full Name:NewJersey Resources Corporation
Short Name:NewJersey Resources
Trading Ticker Symbol:NJR
Primary Exchange:NYSE
Headquarter City/Country:New Jersey, NJ
Primary Industry Sector:Public Utilities
Seconday Sub-sector:Oil and Gas Transmission
Main Business Areas: Public Utilities, Oil and Gas Transmission, Utilities, Gas Utilities
Dividend Payments:Dividend History

Market and Trading Information for NewJersey Resources

The following details were available for trading and market data about the stock of NewJersey Resources as of writing:
Current Share Price:$43.89
Previous Year's Closing Price:$45.67
Percentage Price Change (YTD):-3.9%
Market Cap:$4 billion
52-week Price Range:$43.51 - $51.83
Dividend Per Share:$1.17
EPS (TTM):1.5
Price-Earnings (Trailing):29.16
Price-Earnings (Forward):20.51

Company Profile and Business Description for NewJersey Resources

New Jersey Resources Corporation is an energy services holding company. The Company's principal business is the distribution of natural gas through a regulated utility, which provides other retail and wholesale energy services to customers and investing in clean energy projects and midstream assets. The Company operates in four business segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services and Midstream. The Natural Gas Distribution segment consists of regulated natural gas services, off-system sales, capacity and storage management operations. The Energy Services segment consists of unregulated wholesale energy operations. The Clean Energy Ventures segment consists of capital investments in clean energy projects. The Midstream segment consists of investments in the midstream natural gas market, such as natural gas transportation and storage facilities. The Home Services and Other operations consist of heating, cooling and water appliance sales, installations and services, commercial real estate development, other investments and general corporate activities.

The Company's Home Services and Other operations consist primarily of unregulated affiliates. As of September 30, 2016, it consisted of NJR Home Services Company (NJRHS), which provided heating, ventilation and cooling service, sales and installation of appliances to approximately 114,000 service contract customers, as well as installation of solar equipment; NJR Plumbing Services, Inc. (NJRPS), which provides plumbing repair and installation services, and Commercial Realty & Resources Corp. (CR&R), which holds commercial real estate. Its NJR Investment holds certain energy-related investments, primarily through equity instruments of public companies.

Natural Gas Distribution

As of September 30, 2016, the Company's Natural Gas Distribution segment consisted of New Jersey Natural Gas Company (NJNG), a natural gas utility that provides regulated retail natural gas service in central and northern New Jersey to approximately 521,200 residential and commercial customers in central and northern New Jersey and participates in the off-system sales and capacity release markets. NJNG's service territory includes New Jersey's Monmouth and Ocean counties and parts of Burlington, Morris and Middlesex counties. As of September 30, 2016, NJNG added 8,170 customers and added natural gas heat and other services to another 644 customers. NJNG through construction includes pursuing conversions from other fuels, such as oil, electricity and propane.

Energy Services

The Company's Energy Services segment consists of NJR Clean Energy Ventures Corporation (NJRCEV), which is an unregulated company that invests in, owns and operates clean energy projects, including commercial and residential solar installations located in New Jersey, and wind farms located in Montana, Iowa, Kansas, Wyoming and Pennsylvania. As of September 30, 2016, NJRCEV had constructed a total of 149.7 megawatts (MW) of solar capacity, including a combination of residential and commercial net-metered and grid-connected solar systems in New Jersey. As part of its solar investment program, NJRCEV operates a residential lease program, The Sunlight Advantage, which provides qualifying homeowners with the opportunity to have a solar system installed at their home with no installation or maintenance expenses. NJRCEV owns, operates and maintains the system over the life of the lease in exchange for monthly lease payments. NJRCEV's commercial solar projects are sourced through various channels and include both net-metered and grid-connected systems. Net-metered projects involve the sale of energy to a host and grid-connected systems into the wholesale energy markets. NJRCEV sells the Solar Renewable Energy Certificate (SRECs) it generates to various counterparties, including electric load serving entities that serve electric customers in New Jersey and are required to comply with the solar carve-out of the Renewable Portfolio Standard.

Clean Energy Ventures

The Company's Clean Energy Ventures segment consists of NJR Clean Energy Ventures Corporation (NJRCEV). NJRCEV has various solar contracts, including lease agreements and easements, allowing the installation, operation and maintenance of solar equipment and access to the various properties, including commercial and residential rooftops. As of September 30, 2016, in addition to the lease agreements and easements, NJRCEV owned 79.5 acres of land in Vineland, New Jersey for its Vineland solar project. NJRCEV owns solar panels with a total of 149.7 MW of capacity. NJRCEV is also party to various land lease agreements and easements, which allow for the installation, operation and maintenance of wind turbines, associated electric collection facilities, substations, operation and maintenance buildings and access to the various properties. As of September 30, 2016, NJRCEV owned the wind projects, such as 9.7 mega-watt (MW) project in Two Dot, Montana; 20 MW project in Carroll County, Iowa; 50.7 MW project in Rush County, Kansas, and 6.3 MW project in Carbon County, Wyoming.

Midstream

The Company's Midstream segment includes investments in Federal Energy Regulatory Commission (FERC) regulated interstate natural gas transportation and storage assets. The Company's subsidiaries include NJR Steckman Ridge Storage Company, NJR Pipeline Company and NJR Midstream Holdings Corporation. As of September 30, 2016, its NJR Steckman Ridge Storage Company held the Company's 50% equity investment in Steckman Ridge. As of September 30, 2016, NJR Pipeline Company consisted of its 20 % equity investment in PennEast.

1415 Wyckoff Rd

Peer / Competitor Companies of Oil and Gas Transmission Sector

Along with NewJersey Resources Corporation, the following other peer (competitor) companies also exist within the same Oil and Gas Transmission - Public Utilities sector whose company profile and dividend history is as follows:

▶ Atmos Energy (ATO): Atmos Energy Corporation, incorporated on February 6, 1981, is engaged primarily in the regulated natural gas distribution and pipeline businesses, as well as other nonregulated natural gas businesses. The Company ....See Detailed Company Profile  and Dividend History.

▶ Cheniere Energy (LNG): Cheniere Energy, Inc. (Cheniere), incorporated on March 25, 1983, is an energy company primarily engaged in liquefied natural gas (LNG)-related businesses. The Company operates through two segments: LNG terminal business, ....See Detailed Company Profile  and Dividend History.

▶ Cheniere Energy Partners LP (CQP): Cheniere Energy Partners, L.P. (Cheniere Partners), incorporated on November 21, 2006, is a limited partnership formed by Cheniere Energy, Inc (Cheniere). The Company operates through liquefaction and regasification operations at ....See Detailed Company Profile  and Dividend History.

▶ Cheniere Energy Partners LP LLC (CQH): Cheniere Energy Partners LP Holdings, LLC (Cheniere Holdings), incorporated on July 29, 2013, is a limited liability company. The Companys business consists of owning and holding Cheniere Energy Patners, L.P. ....See Detailed Company Profile  and Dividend History.

▶ Gas Natural (EGAS): Gas Natural Inc., incorporated on July 1, 2010, is a natural gas company. The Company operates through three segments: Natural Gas; Marketing and Production, and Corporate and Other.Natural GasThe Natural ....See Detailed Company Profile  and Dividend History.

▶ Just Energy (JE): Just Energy Group Inc., through its subsidiaries, provides electricity, natural gas, and renewable energy solutions in the United States, Canada, the United Kingdom, Ireland, Germany, and Japan. It operates thr....See Detailed Company Profile  and Dividend History.

▶ National Fuel Gas (NFG): National Fuel Gas Company, incorporated in 1902, is a holding company. The Company is an energy company engaged principally in the production, gathering, transportation, distribution and marketing of natural gas. ....See Detailed Company Profile  and Dividend History.

▶ Northwest Natural Gas (NWN): Northwest Natural Gas Company (NW Natural), incorporated on January 10, 1910, is engaged in the distribution of natural gas. The Companys segments include Local Gas Distribution, Gas Storage and other. ....See Detailed Company Profile  and Dividend History.

▶ ONE Gas (OGS): ONE Gas, Inc., incorporated on August 30, 2013, is a regulated natural gas distribution utility in the United States. The Company provides natural gas distribution services. The Company distributes natural ....See Detailed Company Profile  and Dividend History.

▶ South Jersey Industries (SJI): South Jersey Industries, Inc. (SJI), incorporated in 1969, is an energy services holding company. The Company provides a range of energy-related products and services, primarily through its subsidiaries. The Companys ....See Detailed Company Profile  and Dividend History.

▶ Spire (SR): Spire Inc., through its subsidiaries, engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas in the United Sta....See Detailed Company Profile  and Dividend History.

▶ Ultrapar Participacoes (UGP): Ultrapar Participacoes S.A. (Ultrapar), incorporated on December 20, 1953, is a holding company. The Company engages in the investment of its capital in services, commercial and industrial activities, through the ....See Detailed Company Profile  and Dividend History.

▶ WGL (WGL): WGL Holdings, Inc. (WGL), incorporated on March 9, 2005, is a holding company. The Company, through its subsidiaries, sells and delivers natural gas, and provides a range of energy-related products ....See Detailed Company Profile  and Dividend History.

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