| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 47 | 14.7x | 17.8x | Around median | |
Growth | 66 | 7.0% | 7.1% | Top tier | |
Quality | 44 | 7.3% | 4.5% | Around median | |
Safety | 38 | 4.7x | 2.6x | Bottom tier | |
Capital Return | 62 | 3.60% | 2.12% | Around median | |
Momentum | 63 | 16.0% | 2.9% | Around median | |
Sentiment | 45 | 6 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
New Jersey Resources Corporation operates through a diversified model combining the regulated New Jersey Natural Gas utility, storage and transportation operations, the Clean Energy Ventures platform, and home energy services. Growth depends on investments in gas network safety and reliability, customer growth, recontracting storage and transportation capacity, and bringing new clean energy projects into service. During the first nine months of fiscal 2026, New Jersey Natural Gas accounted for approximately two-thirds of capital expenditures totaling nearly $630 million, illustrating the regulated utility's significant weight in the investment plan.
In Q3 of fiscal 2026, NJR recorded revenue of $258.0 million and net income under financial statements of $9.7 million, representing a calculated net income margin of approximately 3.8%, and earnings per share of $0.10. On a non-GAAP net financial earnings basis, quarterly earnings were $11.3 million, or $0.11 per share, compared with $6.2 million, or $0.06 per share, in Q3 of fiscal 2025. The improvement resulted from a higher contribution from Clean Energy Ventures following the addition of projects into service and the continued benefit to storage and transportation from recontracting on favorable terms.
Revenue for the twelve months ended during fiscal 2026 was approximately $1.5 billion, with net income of $366.2 million and earnings per share of approximately $3.60. The data does not include a gross profit figure, so the gross margin cannot be measured, and detailed revenue figures by segment are also unavailable. Management raised the midpoint of its net financial earnings per share guidance after narrowing the fiscal 2026 range to between $3.52 and $3.62.
Automated analysis for informational purposes only — not investment advice.
The average analyst price target is $61.67, within an extremely narrow range of $61 to $63, compared with a 52-week range of $43.46 to $60.86; this places the average target approximately 1.3% above the top of the annual range. The stock carries a “Buy” consensus, but the absence of an available price-to-earnings ratio in the data and the narrow dispersion of targets limit the ability to test the valuation using an earnings multiple or diverse analyst scenarios.
Figures in the text are as of 2026-08-30; the live price is shown at the top of the page.
Revenue was $258.0 million, net income was $9.7 million, and earnings per share were $0.10 in Q3 of fiscal 2026. On a net financial earnings basis, the company generated $11.3 million, or $0.11 per share, compared with $6.2 million, or $0.06, in Q3 of fiscal 2025. Management attributed the improvement to additional Clean Energy Ventures projects entering service and favorable recontracting in storage and transportation.
During the August 4, 2026 call, management narrowed its fiscal 2026 net financial earnings per share range to $3.52–$3.62. The update raised the midpoint of the range, based on performance during the first nine months and improved visibility into the full-year outcome. The long-term growth target remains 7%–9% from a fiscal 2025 base of $2.73.
The storage and transportation business benefits from favorable recontracting that provides clearer earnings visibility. Management expects this to support a doubling of segment earnings between fiscal 2025 and fiscal 2027. The Leaf River expansion project also received a FERC certificate, while management noted strong demand for transportation and storage facility services on August 4, 2026.
NJR spent nearly $630 million during the first nine months of fiscal 2026, with approximately two-thirds of the amount allocated to New Jersey Natural Gas. It raised the expected fiscal 2026 spending range to $815–$950 million while reaffirming the $4.8–$5.2 billion plan through fiscal 2030. Management says cash generation from operations is the primary funding source and expects the ratio of adjusted cash flow from operations to adjusted debt to exceed 20% in fiscal 2026.
New Jersey Natural Gas submitted a package to BPU on June 1, 2026, combining the base rate case with gas supply adjustments and energy conservation and efficiency programs. The package aims to keep the customer bill nearly stable after all its elements are implemented while continuing investment in network safety and reliability. During the August 4, 2026 call, management described the proceedings as a routine rate case that was still at an early stage.
Clean Energy Ventures increased Q3 fiscal 2026 earnings after additional projects entered service. NJR is evaluating the use of existing interconnections and infrastructure to add capacity to the market, benefiting from the fact that the load factor of those interconnections is below 100%. However, these additional investments were not included in the capital plan as of August 4, 2026, and management did not specify when it would establish a structure that achieves the targeted return and risk profile.
