New Jersey Resources' Fundamentals Still Strong After Booking Solid 2017 Results
We are reaffirming our $30 per share fair value estimate for New Jersey Resources, along with our narrow moat and stable moat trend ratings, after the company reported earning $1.73 per share on an adjusted basis for its fiscal year 2017. This was in line with our forecast.Earnings were up 7.5% from fiscal-year 2016 and at the high end of management's $1.65-$1.75 per-share earnings guidance. Management also initiated fiscal-year 2018 earnings guidance at $1.75-$1.85 per share. This is slightly ...
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.
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