New Jersey Resources Reports Strong Q1 2025 Growth

New Jersey Resources ( (NJR) ) just unveiled an update.

On February 3, 2025, New Jersey Resources reported its fiscal 2025 first-quarter results, highlighting significant financial growth and regulatory achievements. NJNG received approval for a $157 million annual base rate increase effective November 21, 2024, and a new $385.6 million energy efficiency program, SAVEGREEN®, commenced on January 1, 2025. The sale of Clean Energy Ventures’ residential solar portfolio for $132.5 million notably boosted net financial earnings, leading to a consolidated net income of $131.3 million compared to $89.4 million in the same quarter of the previous year. The company maintained its fiscal 2025 earnings guidance and emphasized its strong market position and infrastructure value, with expectations of continued financial performance across its segments.

More about New Jersey Resources

New Jersey Resources Corporation is a diversified energy services company primarily involved in natural gas distribution through its subsidiary New Jersey Natural Gas (NJNG). The company also operates in clean energy ventures, storage and transportation, and energy services markets, focusing on providing efficient energy solutions and infrastructure development.

YTD Price Performance: 3.27%

Average Trading Volume: 530,522

Technical Sentiment Consensus Rating: Strong Sell

Current Market Cap: $4.78B

For a thorough assessment of NJR stock, go to TipRanks’ Stock Analysis page.