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News Breaks
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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July 31, 2014
07:28 EDTNJRNJR continues to see 'positive' signs in residential new construction market
The company said, "We continue to see positive signs in the residential new construction market. Combined with favorable service territory demographics and competitive natural gas pricing, we are well on our way to meeting our projected new customer additions goal of between 14K-16K during FY14 and FY15. This will represent a new customer annual growth rate of about 1.5%."
07:27 EDTNJRNJR sees NJRES to generate 5%-15% of total NFE in FY15, beyond
Assuming a return to more normal weather, NJR expects NJRES will generate between 5%-15% of total NFE in FY15 and beyond. The company expects its regulated businesses will contribute 65%-80% of total NFE over the long term. Contributions from NJR’s various business segments are expected to return to previously announced levels in FY15.
07:25 EDTNJRNew Jersey Resources backs FY14 NFE view $4.00-$4.20
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07:13 EDTNJRNew Jersey Resources reports Q3 EPS (34c), may not compare to consensus (10c)
Reports Q3 revenue $560.6M, consensus $779.98M.
July 23, 2014
13:10 EDTNJRNew Jersey Natural Gas receives approval for NJ RISE program
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