Last $50.40 USD
Change Today -0.46 / -0.90%
Volume 164.7K
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As of 8:04 PM 09/18/14 All times are local (Market data is delayed by at least 15 minutes).

new jersey resources corp (NJR) Key Developments

New Jersey Resources Corp. Announces Increased Quarterly Dividend, Payable October 1, 2014

The board of directors of New Jersey Resources unanimously approved a 7.1% increase in the quarterly dividend rate to $0.45 per share from $0.42 per share. The new quarterly rate will be effective with the dividend payable October 1, 2014 to shareowners of record on September 22, 2014. The new annual dividend rate will be $1.80 per share. This dividend replaces the previous dividend of $0.42 per share approved on July 15, 2014 for shareowners of record on September 15, 2014.

New Jersey Resources Corp. Presents at AGA New York Financial Mini-Forum, Sep-11-2014 08:00 AM

New Jersey Resources Corp. Presents at AGA New York Financial Mini-Forum, Sep-11-2014 08:00 AM. Venue: The Princeton Club, 15 West 43rd Street, New York, NY 10036, United States.

New Jersey Resources Corp. Reports Consolidated Earnings and Operating Results for the Third Quarter and Nine Months Ended June 30, 2014; Provides Earnings Guidance for the Fourth Quarter of 2014 and Annual Effective Tax Rate Guidance for the Full Year of 2014

New Jersey Resources Corp. announced consolidated earnings and operating results for the third quarter and nine months ended June 30, 2014. For the quarter, the company reported total operating revenues of $688,257,000 against $767,469,000 a year ago. Total operating loss was $29,208,000 against operating income of $47,000,000 a year ago. Total net loss was $14,274,000 against net income of $29,155,000 a year ago. Total net financial earnings were $4,514,000 against $9,738,000 a year ago. Loss before income taxes and equity in earnings of affiliates was $24,763,000 against income before income taxes and equity in earnings of affiliates of $42,230,000 a year ago. Diluted loss per common share was $0.34 against EPS of $0.70 a year ago. Basic net financial earnings per share were $0.11 against $0.23 a year ago. For the nine months, the company reported total operating revenues of $3,146,231,000 against $2,464,373,000 a year ago. Total operating income was $230,028,000 against $191,160,000 a year ago. Total net income was $166,390,000 against $134,830,000 a year ago. Total net financial earnings were $196,295,000 against $113,895,000 a year ago. Income before income taxes and equity in earnings of affiliates was $223,711,000 against $177,865,000 a year ago. Diluted income per common share was $3.92 against $3.22 a year ago. Basic net financial earnings per share were $4.67 against $2.73 a year ago. For the quarter, the company reported total throughput of 192.4 Bcf against 194.8 Bcf a year ago. For the nine months, the company reported total throughput of 663.2 Bcf against 625.3 Bcf a year ago. For the full year of 2014, the company expects annual effective tax rate is 28.2%. For net financial earnings (NFE) purposes, the effective tax rate for fiscal 2014 is estimated at 28.4%. For the fourth quarter of 2014, the company expects net financial loss of between $0.47 and $0.67 per share. The forecasted fourth-quarter loss is due to the seasonal nature of NJRES and NJNG's businesses and higher discretionary expenses, including the estimated impact of a voluntary early retirement program.

NJR Midstream Reports Earnings Results for the Third Quarter and Nine Months Ended June 30, 2014; Provides Earnings Guidance for Fiscal 2014 and 2015

NJR Midstream reported earnings results for the third quarter and nine months ended June 30, 2014. For the quarter, the company reported net financial earnings of $1,896,000 against $1,541,000 a year ago. Operating loss was $202,000 against $190,000 a year ago. For the nine months, the company reported net financial earnings of $5,584,000 against $5,600,000 a year ago. Operating loss was $721,000 against $611,000 a year ago. The company expects fiscal 2014 net financial earnings of 3% to 10%. The company expects fiscal 2015 net financial earnings of 5% to 10%.

New Jersey Resources Corp. Approves Amendments to the Bylaws

The Board of Directors of New Jersey Resources Corporation, on July 16, 2014, upon the recommendation of the Nominating/Corporate Governance Committee of the Board approved amendments to the company's Bylaws. The amendments include (i) modification of the provisions relating to scheduling and notice of Board meetings and participation by means of remote communication (Article I, Section 2), (ii) updates to Article III, Section 3 regarding participation by stockholders at stockholders' meetings by means of remote communication and notice of such meetings by electronic transmission and (iii) revisions to the indemnification provisions contained in Article IX, Indemnification of Directors, Officers, Employees and Agents, designed primarily to improve the readability of the provisions.

 

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NJR

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Valuation NJR Industry Range
Price/Earnings 14.7x
Price/Sales 0.6x
Price/Book 2.1x
Price/Cash Flow 10.9x
TEV/Sales 0.3x
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