New Jersey Resources Corp (NJR) first established itself as a New Jersey natural gas utility company in 1952 by acquiring 815 sq. miles of gas properties and 84,000 customers for a mere $16M, from Jersey Central Power and Light, which is now a subsidiary of FirstEnergy Corp (FE). Some 59 years later, NJR now serves 500,000 customers over 1,500 sq. miles and generates over $2B in annual revenues. The company recently achieved 21 consecutive years of higher net financial earnings, has continuously paid quarterly dividends since 1952, and has increased dividends for 17 consecutive years. The company has a wide moat since there is no other natural gas supply company in the area, making...
New Jersey Resources: Cost Deferments And Rate Increases Offer Tailwinds For Growth
Aug 9 2013, 14:48 | about: NJR
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