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WALL, N.J. - New Jersey Resources Corporation (NYSE: NJR), a Fortune 1000 energy provider with a market capitalization of $5 billion, has declared a quarterly dividend of $0.45 per share, consistent with its long-standing practice of rewarding shareholders. The upcoming dividend is payable on July 1, 2025, to shareholders on record as of June 10, 2025. The current dividend yield stands at 3.69%, according to InvestingPro data.
The company, known for its commitment to delivering natural gas and clean energy services, has maintained dividend payments for 55 consecutive years since 1952. Notably, NJR has increased its dividend annually for the past 29 years, demonstrating a reliable pattern of shareholder returns. Trading at a P/E ratio of 14.92 and showing revenue growth of 6.51%, InvestingPro analysis suggests the stock is currently fairly valued.
NJR’s operations encompass a range of energy services, including natural gas transportation and distribution through its principal subsidiary, New Jersey Natural Gas. The company also invests in solar projects via Clean Energy Ventures and manages a diverse portfolio of natural gas assets through Energy Services. Additionally, NJR owns storage and transportation facilities and offers residential home services in New Jersey.
The company’s over 1,300 employees focus on promoting energy conservation and efficiency as part of their commitment to customers and the environment. This news is based on a press release statement from New Jersey Resources Corporation.
In other recent news, New Jersey Resources has been the focus of several key developments. Jefferies initiated coverage on the company, assigning a Hold rating and setting a price target of $51.00. Their analysis anticipates a net financial earnings per share (EPS) compound annual growth rate of approximately 8%, aligning with the company’s guidance but not meeting previous consensus estimates. Meanwhile, Guggenheim analysts raised the price target for New Jersey Resources to $54.00, maintaining a Neutral stance. This adjustment comes after the company’s financial performance exceeded expectations, primarily due to the sale of its residential solar business, Sunlight Advantage.
Guggenheim noted that excluding the one-time gain from the sale, the EPS would be slightly below their initial forecast. Despite this, New Jersey Resources reaffirmed its guidance for 2025 net financial earnings per share, ranging between $3.05 and $3.20, including the asset sale gain. In corporate governance news, the company held its Annual Meeting, where shareholders re-elected three directors to the board for another three-year term. Additionally, a non-binding advisory resolution approving executive compensation was passed, and Deloitte & Touche LLP was ratified as the independent registered public accounting firm for the fiscal year ending September 30, 2025. These recent developments highlight New Jersey Resources’ strategic moves in both financial and corporate governance arenas.
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