Professional
Added to YB: 2024-06-14
Pitch date: 2024-06-10
NJR [bullish]
New Jersey Resources Corporation
+43.26%
current return
Author Info
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Company Info
New Jersey Resources Corporation, an energy services holding company, distributes natural gas. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Storage and Transportation.
Market Cap
$5.8B
Pitch Price
$39.91
Price Target
56.00 (-2%)
Dividend
3.32%
EV/EBITDA
12.84
P/E
16.91
EV/Sales
4.32
Sector
Gas Utilities
Category
growth
New Jersey Resources Corporation: Well positioned to meet secular energy trends
NJR: Buy rated utility benefiting from rate hikes, solar & energy services growth. Exceeded 7-9% growth target last 3 yrs, expects same in 2024. Shares at 15x FY24 EPS est, below 17-24x historical range. $56 PT on growth opps, clean energy focus & steady cash flows from asset mgmt deals.
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