New Jersey Resources
Runs a regulated New Jersey gas utility alongside solar, gas logistics and midstream assets.
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Profile
Distributes regulated natural gas across parts of New Jersey and earns additional revenue from commercial solar, wholesale gas logistics, storage and pipeline assets, and home-comfort services. The regulated utility anchors a portfolio exposed to both utility regulation and U.S. energy markets.
Distributes natural gas to residential and commercial customers in six New Jersey counties through regulated New Jersey Natural Gas. Four reportable segments add Clean Energy Ventures' commercial solar projects, Energy Services' wholesale gas transportation, storage and energy management, and Storage and Transportation's pipeline and storage assets; Home Services sells service contracts and installs heating, cooling and other home-comfort equipment throughout New Jersey.
Combines utility infrastructure investment and customer growth with gas-supply and capacity optimization, commercial solar development, and operation of regulated midstream assets. Operations are concentrated in the United States, while Energy Services works across North American gas markets. Returns depend on New Jersey utility rate decisions, federal midstream regulation, solar incentives and grid interconnections, weather, and natural-gas market conditions.
Company facts
Categories
Key statistics
Year to date +16.6% · Average volume (30d) 625.2K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 5, 2026 | Wells Fargo | Downgrade | Overweight | Equal Weight | $47 | $61 |
| May 20, 2026 | Argus Research | Target | $63 | |||
| Apr 21, 2026 | Mizuho Securities | Target | $50 | $61 | ||
| Feb 3, 2026 | Williams Trading | Target | $55 | |||
| Dec 17, 2025 | New Street | Target | $51 | $54 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 3, 2026Q3 FY26 | $0.07 | $0.11 | +66.7% | $342.1M | $349.2M | +2.1% | −1.19% |
| May 4, 2026Q2 FY26 | $1.89 | $2.20 | +16.4% | $850.0M | $939.4M | +10.5% | −0.20% |
| Feb 2, 2026Q1 FY26 | $0.95 | $1.17 | +23.2% | $551.7M | $604.9M | +9.6% | +3.52% |
| Nov 19, 2025Q4 FY25 | $0.15 | $0.16 | +6.1% | $299.6M | $341.5M | +14.0% | +4.10% |
Financial highlights
| 12 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $876.9M | $323.9M | $341.5M | $605.6M | $939.4M | $349.2M | |
| Gross profit | $249.0M | $13.2M | $37.1M | $261.9M | $301.0M | $31.9M | |
| Operating income | $249.0M | $13.2M | $37.1M | $180.3M | $301.0M | $31.9M | |
| Net income | $204.3M | −$15.1M | $15.1M | $122.5M | $218.9M | $9.7M | |
| Diluted EPS | $2.02 | −$0.15 | $0.15 | $1.21 | $2.16 | $0.10 | |
| Gross margin | 28.4% | 4.1% | 10.9% | 43.3% | 32.0% | 9.1% | |
| Operating margin | 28.4% | 4.1% | 10.9% | 29.8% | 32.0% | 9.1% |
Fiscal years (4-quarter sums)FY21 $2.13B · FY22 $2.91B · FY23 $1.93B · FY24 $1.78B · FY25 $2.03B
Revenue by product · Q3 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $34.0M · Total debt $3.88B · Total assets $8.02B · Shareholders' equity $2.64B
Dividends
Raised for 38 straight years — most recently to $0.475 from $0.45 in Sep 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 10, 2026 | Jun 10 | Jul 1 | $0.475 | |
| Mar 11, 2026 | Mar 11 | Apr 1 | $0.475 | |
| Dec 12, 2025 | Dec 12 | Jan 2 | $0.475 | |
| Sep 22, 2025 | Sep 22 | Oct 1 | $0.475 | raised from $0.45 |
| Jun 10, 2025 | Jun 10 | Jul 1 | $0.45 | |
| Mar 11, 2025 | Mar 11 | Apr 1 | $0.45 | |
| Dec 11, 2024 | Dec 11 | Jan 2 | $0.45 | |
| Sep 23, 2024 | Sep 23 | Oct 1 | $0.45 | raised from $0.42 |
Ownership
Shares outstanding 100.92M · Float 100.35M · 99.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 17.99M | 17.83% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 6.34M | 6.28% | 13F | Aug 13, 2026 |
| State Street Corp | 5.42M | 5.37% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 4.54M | 4.50% | 13F | Aug 13, 2026 |
| Dimensional Fund Advisors LP | 4.31M | 4.27% | 13F | Aug 11, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 14, 2026 | Patrick J. Migliaccio | officer: Senior VP and COO, NJNG | −3,000 | $55.63 |
| May 22, 2026 | Christopher T. D'Antuono | officer: Corporate Controller and PAO | −1,150 | $57.34 |
| May 11, 2026 | Patrick J. Migliaccio | officer: Senior VP and COO, NJNG | −3,000 | $55.84 |
| May 8, 2026 | Jane M. Kenny | director | −8,000 | $56.10 |
| Mar 19, 2026 | Richard Reich | officer: SVP and Gen Counsel | −5,449 | $52.99 |
Peers
- Public Service Enterprise Group
Same-state gas and electric utility pressure in New Jersey
- UGI
Diversified gas, propane and energy-marketing overlap
- Atmos Energy
Large pure-play gas utility and pipeline/storage benchmark
- NiSource
Large regulated gas/electric utility infrastructure peer
- Spire
Gas utility, marketing and midstream model close to NJR
- Chesapeake Utilities
Diversified gas delivery, propane and transmission peer
- ONE Gas
Pure-play regulated gas distribution comparator
- National Fuel Gas
Utility and pipeline/storage overlap in Appalachian gas
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| New Jersey Resources | $53.60 | +0.02% | $5.41B | 14.8 | 16.1 | 2.4 | +16.8% |
| Public Service Enterprise Group | $73.19 | −0.01% | $36.47B | 18.2 | 16.3 | 2.9 | −9.0% |
| UGI | $38.01 | −0.03% | $8.15B | 12.7 | 13.0 | 1.1 | −4.5% |
| Atmos Energy | $166.65 | +0.01% | $27.82B | 19.8 | 18.5 | 5.7 | +4.8% |
| NiSource | $42.21 | +4.07% | $19.45B | 21.6 | 18.6 | 2.8 | +4.6% |
| Spire | $82.56 | −0.05% | $4.88B | 9.2 | 16.9 | 1.9 | −0.4% |
| Chesapeake Utilities | $132.71 | +0.00% | $3.19B | 21.2 | 19.7 | 3.2 | +4.7% |
| ONE Gas | $79.47 | −0.03% | $4.99B | 17.1 | 16.1 | 2.2 | −2.9% |
| National Fuel Gas | $82.97 | +0.02% | $7.89B | 11.5 | 11.0 | 3.1 | +1.1% |
| Median | 17.7 | 16.6 | 2.9 | +0.3% |