New Jersey Resources (NJR) Stock

The earnings call transcript for New Jersey Resources Corporation (NYSE:NJR) for the fourth quarter of 2024 took place on November 26, 2024, at 10:00 AM ET. Key participants included Adam Prior, the Director of Investor Relations, and Steve Westhoven, the President and CEO, among others. The call was facilitated by Regina, the conference operator.

WALL, N.J.--(BUSINESS WIRE)--New Jersey Resources Corporation (NYSE: NJR) has announced its financial results for the fourth quarter and the year ending September 30, 2024. The company reported a consolidated net income of $289.8 million, or $2.94 per share, which is an increase from $264.7 million, or $2.73 per share, in the previous fiscal year. Additionally, the consolidated net financial earnings (NFE), a non-GAAP measure, were $290.8 million, or $2.95 per share, for fiscal 2024.

WALL, N.J.--(BUSINESS WIRE)--NJR Clean Energy Ventures (CEV), a clean energy branch of New Jersey Resources (NYSE: NJR), has announced the sale of its 91 megawatt (MW) residential solar portfolio to Spruce Power Holding Corporation (NYSE: SPRU) for $132.5 million. NJR anticipates a profit from this sale in fiscal 2025 and plans to use the funds to reduce corporate debt and for general operational needs. "Investing in renewable energy is a key aspect of our business."

WALL, N.J.--(BUSINESS WIRE)--New Jersey Natural Gas (NJNG) has been granted approval by the New Jersey Board of Public Utilities for a settlement in its base rate case, leading to a $157 million rise in its base rates. NJNG sought this increase to cover expenses related to infrastructure improvements, system upgrades, and general business operations. "This settlement is fair and acknowledges the worth of the roughly $850 million invested," said a company representative.

CAMDEN, N.J.--(BUSINESS WIRE)--New Jersey American Water has announced that four organizations in New Jersey—Boys and Girls Clubs of Union County, Hopeworks, Junior Achievement of New Jersey, and Salem County Inter-Agency Council of Human Services—will each receive a $25,000 grant from the American Water Charitable Foundation for 2024. These grants aim to support career readiness, financial and business education, youth development, and life skills training. "Every day, we strive to maintain...

NJR is working to boost the value for its shareholders by raising its quarterly dividend by 7.1%, as approved by its board of directors.

WALL, N.J.--(BUSINESS WIRE)--The board of directors of New Jersey Resources Corporation (NYSE: NJR) has unanimously decided to raise the quarterly dividend by 7.1 percent, increasing it from $0.42 to $0.45 per share. This new rate will take effect with the dividend payment on October 1, 2024, for shareholders recorded on September 23, 2024. The annual dividend will now be $1.80 per share, and NJR has consistently paid quarterly dividends since it was founded in 1952.

NJR presents a compelling argument for investment due to its potential for growth, impressive return on equity, and ability to enhance shareholder value.

Nevis Brands (CSE:NEVI, OTCQB:PSCBF) CEO John Kueber joined Proactive to discuss the company's new licensing agreement with Stash House to produce and distribute Major-branded cannabis beverages in New Jersey. Kueber highlighted the importance of New Jersey's market due to its proximity to major population centers like New York City.