New Jersey Resources' Core Growth Should Lead to Continued Dividend Raises
We are reaffirming our $30 per share fair value estimate, narrow moat and stable moat trend for New Jersey Resources after the company announced $1.33 of adjusted earnings per share in the second quarter of fiscal-year 2017, up from $0.85 in 2016. We are reaffirming our long-term outlook and 2017 fiscal-year earnings estimate, in line with management's $1.65-$1.75 per share guidance range. Earnings are on track to support at least another $0.06 per share dividend increase (6%) later this year.A...
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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