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March 12, 2014
08:29 EDTNJRNew Jersey Resources raises FY14 EPS view to $3.90-$4.10 from $2.75-$2.95
Consensus is $2.87. The increase in guidance is due to significantly better-than-anticipated results at NJR Energy Services, a provider of producer and physical natural gas services. This winter, demand for natural gas increased considerably in regions affected by the sustained extreme cold weather across the United States, especially in the Midwest. During this period of high demand and volatility, NJRES effectively utilized its strategically located portfolio of natural gas storage and transportation contracts to meet the needs of its customers in these regions. NJR has raised its average annual long-term NFE-per-share growth rate goal to a range of 5 to 9 percent from the previous range of 4%-7%. In addition, the company has increased its annual dividend growth rate forecast to a range of 6%-8%, up from 5%. NJR’s long-term payout ratio goal remains unchanged at a range of 60%-65%. NJR continues to expect that between 65%-80% of its long-term earnings will be generated by its regulated businesses. Comments taken from an 8K filing.
News For NJR From The Last 14 Days
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February 3, 2016
07:04 EDTNJRNew Jersey Resources backs FY16 net financial EPS $1.55-$1.65, consensus $1.64
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07:03 EDTNJRNew Jersey Resources reports Q1 net financial EPS 58c, consensus 56c
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February 2, 2016
17:10 EDTNJRNJRCEV announces $84M onshore wind project
NJR Clean Energy Ventures, or NJRCEV, the unregulated distributed power subsidiary of New Jersey Resources, announced its fourth onshore wind project. The Ringer Hill Wind Farm is located along the Pennsylvania-Maryland border in Somerset County, Pennsylvania, approximately 60 miles southeast of Pittsburgh. NJRCEV will invest approximately $84M to construct, own and operate the wind farm consisting of 14 GE turbines with a total capacity of 39.9 megawatts. NJRCEV expects this wind farm to be operational during the Q1 of FY17. When this project is complete, NJRCEV's onshore wind portfolio will total more than 120 MW, capable of producing enough energy to power 37,500 homes per year.

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