New Jersey Resources Corp
NJR: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$57.00 | Kdxrlb | Klybjchm |
New Jersey Resources Closes Fiscal Year With Strong Results; Renewable Investments Still Growing
We are reaffirming our $41 fair value estimate for New Jersey Resources after the company reported earning $2.50 per share on an adjusted basis for fiscal 2022. This is up 16% from fiscal 2021 and far exceeded our and management's earnings outlook at the beginning of the year. We are reaffirming our narrow moat and stable moat trend ratings.