NJR 📈 NewJersey Resources - Overview

New Jersey Resources Corporation is a multifaceted energy services holding company that distributes natural gas to a wide range of customers. The company's operations are divided into four distinct segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Storage and Transportation. The Natural Gas Distribution segment is responsible for providing regulated natural gas utility services to approximately 576,000 customers across six counties in New Jersey, including Burlington, Middlesex, Monmouth, Morris, Ocean, and Sussex. This segment also offers capacity and storage management services, and participates in the off-system sales and capacity release markets, allowing the company to optimize its resources and generate additional revenue streams.

The Clean Energy Ventures segment is focused on investing in, owning, and operating clean energy projects, with a particular emphasis on commercial and residential solar installations. The company has established a presence in several states, including New Jersey, Rhode Island, New York, Connecticut, Michigan, and Indiana, and is well-positioned to capitalize on the growing demand for renewable energy solutions. By diversifying its portfolio and expanding its reach into new markets, New Jersey Resources Corporation is able to reduce its reliance on traditional energy sources and contribute to a more sustainable energy future.

The Energy Services segment plays a critical role in maintaining and operating natural gas transportation and storage capacity contracts, as well as providing physical wholesale energy, retail energy, and energy management services to customers in the United States and Canada. This segment allows the company to leverage its expertise and infrastructure to deliver customized energy solutions to a wide range of clients, from commercial and industrial customers to residential consumers. By offering a comprehensive suite of energy services, New Jersey Resources Corporation is able to differentiate itself from competitors and establish long-term relationships with its customers.

The Storage and Transportation segment is responsible for investing in energy-related ventures, including the provision of heating, ventilation, and cooling services, sales and installation of appliances, solar equipment installation, and plumbing repair and installation services. The company also holds commercial real estate properties, generating additional revenue streams through rental income and property appreciation. With a diverse portfolio of energy-related assets and a strong presence in the northeastern United States, New Jersey Resources Corporation is well-positioned to capitalize on emerging trends and opportunities in the energy sector.

Founded in 1981 and headquartered in Wall, New Jersey, New Jersey Resources Corporation has established itself as a leading energy services holding company, with a strong track record of delivering value to its customers, shareholders, and the wider community. The company's common stock is listed on the New York Stock Exchange (NYSE) under the ticker symbol NJR, and is classified as a Gas Utilities company within the GICS Sub Industry. With a global security identification number (ISIN) of US6460251068, New Jersey Resources Corporation is a widely recognized and respected player in the energy sector, with a web presence at https://www.njresources.com.