Company tightens fiscal 2026 NFEPS guidance to $3.52-$3.62 from $3.48-$3.63
Company maintains 7-9% long-term NFEPS growth target from fiscal 2025 base of $2.83
Company expects fiscal 2026 NFE contributions: NJNG 59-62%, CEV 10-13%, S&T 8-11%, ES 21-23%
Overview
US energy infrastructure firm's fiscal Q3 revenue rose and beat analyst expectations
Adjusted EPS for fiscal Q3 beat analyst expectations
Company raised lower end of fiscal 2026 net financial earnings per share guidance
Result drivers
Utility depreciation - Higher depreciation from new utility plant reduced New Jersey Natural Gas segment earnings, partly offset by higher utility gross margin
Clean Energy revenue - Clean Energy Ventures narrowed its loss due to higher revenue, offset by increased depreciation and interest expense
Storage and transportation - Segment earnings rose due to higher operating income at Adelphia Gateway and higher firm storage rates at Leaf River
Energy Services volatility - Year-to-date earnings at Energy Services increased due to higher natural gas price volatility, though quarterly loss was largely unchanged
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the natural gas utilities peer group is "buy"
Wall Street's median 12-month price target for New Jersey Resources Corp is $61.00, about 5.4% above its July 31 closing price of $57.89
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 17 three months ago
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