All Eyes on Progress of NJR's Regulatory Activity in New Jersey
We are reaffirming our $36 fair value estimate and narrow moat and stable moat trend ratings for New Jersey Resources after it reported net financial earnings per share of $1.27 in the second quarter of fiscal 2019, down from $1.62 last year. Management reaffirmed its $1.95-$2.05 EPS guidance for 2019, in line with our estimate.We anticipated lower earnings due to the exceptional outperformance of the firm's energy services segment last winter. A return to normal earnings at Energy Services was...
New Jersey Resources is an energy services holding company whose principal business is the distribution of natural gas through a regulated utility, providing other retail and wholesale energy services to customers and investing in clean energy projects and midstream assets. The company's segments are: Natural Gas Distribution, which consists of regulated natural gas services, off-system sales, capacity and storage management operations; Clean Energy Ventures, which consists of capital investments in clean energy projects; Energy Services, which consists of unregulated wholesale and retail energy operations; and Midstream, which consists of investments in the midstream natural gas market.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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