New Jersey Resources Posts Another Strong Quarter, Starts Exiting Wind Energy
We are raising our fair value estimate for New Jersey Resources to $32 per share from $31 after incorporating better-than-expected results through the first half of fiscal-year 2018 and time-value appreciation since our last update. We are reaffirming our narrow moat and stable moat trend ratings.After another strong quarter, NJR remains on track to exceed our previous earnings forecast. The company reported net financial earnings of $1.62 per share in the second fiscal quarter, up from $1.21 p...
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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