Morningstar - New Jersey Resources Corporation (NJR) NJRs outlook for 2017 shows the strength of its core utility investment growth.

Report

Morningstar

Travis Miller

EUR 147.86 For Business Accounts Only

NJR's outlook for 2017 shows the strength of its core utility investment growth.

We are reaffirming our $30 per share fair value estimate for New Jersey Resources after the company announced fiscal 2016 earnings and initiated 2017 earnings guidance, both in line with our expectations. Earnings fell to $1.61 per share in fiscal 2016, down from $1.78 in fiscal 2015, primarily because of the outsize earnings the energy services business realized in 2015, as we anticipated.
Our $1.70 EPS estimate for 2017 is directly in the middle of management's $1.65-$1.75 EPS guidance range. ...

18/11/2016 12 EN

Underlying

New Jersey Resources Corporation

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.

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US6460251068 New York Stock Exchange United States

Provider

Morningstar

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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Analysts

Travis Miller

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NJR's outlook for 2017 shows the strength of its core utility investment growth.

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