NJR
UtilitiesNew Jersey Resources Corporation · Regulated Gas · $6B
What is New Jersey Resources Corporation?
New Jersey Resources Corporation is a mid-cap energy services holding company headquartered in Wall, New Jersey. It serves hundreds of thousands of residential and commercial customers through regulated natural gas distribution and a growing portfolio of clean energy investments.
New Jersey Resources generates revenue across four business segments: regulated natural gas distribution to customers across several New Jersey counties, clean energy ventures focused on solar projects in the Northeast, unregulated wholesale energy management services, and natural gas storage and transportation infrastructure. The regulated utility segment provides the most stable revenue base, while the clean energy and energy services arms add diversification. The company also offers HVAC services, solar installation, plumbing, and water appliance services.
Founded in 1980, the company is based in Wall, New Jersey.
- Regulated natural gas distribution across New Jersey
- Commercial and residential solar project ownership
- Wholesale energy management and gas storage services
- HVAC, plumbing, and solar installation services
- Natural gas transportation and storage infrastructure
Is NJR a Good Stock to Buy?
UQS Score rates NJR as Below Average overall, reflecting a mixed profile across its five quality pillars.
The Quality, Moat, Growth, and Valuation pillars each land at a Neutral rating, suggesting NJR is neither a standout performer nor a clear laggard in those dimensions. Its regulated utility base provides a degree of earnings predictability that is typical for the sector.
The Risk pillar is rated Weak, which is the most notable concern in NJR's profile — pointing to elevated financial or operational vulnerabilities relative to sector peers.
See the exact pillar breakdown and full financial metrics by signing up for a UQS Pro account. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does NJR pay dividends?
Yes — New Jersey Resources Corporation pays a dividend.
New Jersey Resources pays a regular dividend, consistent with its identity as a regulated utility holding company. Utilities in this segment typically prioritize returning cash to shareholders given the stable, rate-regulated nature of their core business. NJR's dividend history reflects the company's long-standing commitment to income-oriented investors, though the sustainability of that payout should be weighed against its Weak Risk pillar rating.
When does NJR report earnings?
New Jersey Resources reports earnings on a quarterly cadence, typical for US-listed equities.
As a regulated utility, NJR's quarterly results tend to reflect seasonal demand patterns — natural gas usage peaks in colder months, which can create meaningful variation across quarters. The clean energy and energy services segments add some variability to the overall earnings picture.
For the most recent quarter's results and guidance, visit New Jersey Resources Corporation's investor relations page directly.
NJR Price History
+54.9% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in New Jersey Resources Corporation?
Based on New Jersey Resources Corporation's historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
NJR Long-term Outlook
NJR's Growth pillar is rated Neutral, suggesting the company is expected to expand at a pace broadly in line with regulated utility sector norms rather than outperforming peers. The Weak Risk pillar introduces uncertainty around that trajectory, particularly given the company's exposure to unregulated energy services and capital-intensive clean energy investments. Valuation is also Neutral, meaning the market does not appear to be pricing in a significant premium or discount relative to fundamentals.
Growth drivers
- Expansion of regulated customer base across New Jersey service territories
- Growing portfolio of solar and clean energy assets in the Northeast
- Demand for natural gas storage and transportation infrastructure
Key risks
- Elevated financial risk profile as flagged by the Weak Risk pillar
- Regulatory and rate-case outcomes that could compress utility margins
- Capital intensity of clean energy build-out in a higher interest rate environment
NJR vs Peers
NJR operates in a competitive landscape of regulated and diversified utility companies, each with distinct geographic footprints and business mixes.
ONE Gas is a pure-play regulated natural gas distributor serving customers across Oklahoma, Kansas, and Texas, with a narrower geographic and business scope than NJR.
Spire operates regulated gas utilities primarily in Missouri and Alabama, with a similar focus on residential and commercial distribution but without NJR's clean energy ventures segment.
Brookfield Infrastructure is a globally diversified infrastructure operator with exposure to utilities, transport, and data assets — a much broader mandate than NJR's regional utility focus.
Frequently Asked Questions
What does New Jersey Resources Corporation do?
New Jersey Resources is an energy services holding company that distributes regulated natural gas to customers across several New Jersey counties, invests in solar and clean energy projects, manages wholesale energy services, and operates natural gas storage and transportation assets. It also provides HVAC, plumbing, and solar installation services to residential and commercial customers.
Does NJR pay dividends?
Yes, New Jersey Resources pays a regular dividend. This is consistent with its regulated utility business model, which generates relatively predictable cash flows. Income-focused investors typically look to utilities like NJR for dividend income, though the company's Weak Risk pillar rating is worth considering when evaluating payout sustainability.
When does NJR report earnings?
New Jersey Resources reports earnings on a quarterly basis, as is standard for US-listed companies. Natural gas utilities often see seasonal swings in results, with colder quarters typically driving higher demand. For exact release dates, check the investor relations section of the New Jersey Resources website.
Is NJR a good stock to buy?
UQS Score rates NJR as Below Average overall. While several pillars — including Quality, Moat, Growth, and Valuation — are rated Neutral, the Risk pillar is rated Weak, which weighs on the composite score. Whether NJR fits your portfolio depends on your risk tolerance and income objectives. View the full pillar breakdown with a UQS Pro account.
Is NJR overvalued?
NJR's Valuation pillar is rated Neutral, suggesting the stock is neither clearly expensive nor deeply discounted relative to its fundamentals. For a regulated utility, valuation is often tied to interest rate expectations and rate-case outcomes. The complete valuation metrics are available to UQS Pro members.
How does NJR compare to its competitors?
Compared to peers like ONE Gas and Spire, NJR has a more diversified business model that includes clean energy ventures and wholesale energy services alongside its regulated gas distribution core. Brookfield Infrastructure operates at a much larger, global scale. Each competitor carries a different risk and growth profile — see the UQS comparison tool for a side-by-side view.
What is NJR's market cap bracket?
New Jersey Resources Corporation is classified as a mid-cap company. This places it in a segment of the market that typically offers more stability than small-caps but less liquidity and analyst coverage than large-cap utilities.
Who founded New Jersey Resources Corporation?
New Jersey Resources was established in 1980. Detailed founding history, including the names of key figures involved in the company's formation, is available through publicly accessible corporate history resources and the company's own investor relations materials.
Is NJR a long-term quality investment?
As a long-term quality indicator, NJR's UQS Score of Below Average reflects a profile that carries meaningful risk alongside neutral scores across quality, growth, moat, and valuation dimensions. Regulated utilities can offer durability over time, but the Weak Risk pillar suggests investors should examine the balance sheet and business mix carefully before committing to a long-term position.
What is the main competitive advantage of New Jersey Resources?
NJR's primary competitive advantage lies in its regulated natural gas distribution franchise, which provides a legally protected service territory and relatively predictable revenue. Its growing clean energy segment adds a differentiated layer compared to pure-play gas utilities, though that segment also introduces additional capital and regulatory risk.
What sector does NJR belong to?
New Jersey Resources operates in the Utilities sector, specifically within natural gas distribution. It also has exposure to clean energy and unregulated energy services, giving it a slightly more diversified profile than a traditional single-segment utility.
Is NJR a growth stock or value stock?
Based on its UQS pillar profile, NJR sits closer to the value end of the spectrum — its Growth pillar is rated Neutral rather than strong, and its Valuation pillar is also Neutral. It is generally more consistent with an income and stability-oriented investment thesis than a high-growth one.
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Pro Analysis
NJR — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 8, 2026 | 40.6 | 28.6 | 51.0 | 47.9 | 40.9 | 33.5 | -2.2 |
| May 7, 2026 | 42.8 | 50.2 | 51.0 | 47.9 | 11.1 | 42.0 | 0.0 |
| May 3, 2026 | 42.8 | 50.2 | 51.0 | 47.9 | 11.1 | 41.5 | 0.0 |
| Apr 23, 2026 | 42.8 | 50.2 | 51.0 | 47.9 | 11.1 | 41.6 | 0.0 |
| Apr 18, 2026 | 42.8 | 50.2 | 51.0 | 48.1 | 11.1 | 41.6 | +1.2 |
| Apr 14, 2026 | 41.6 | 50.2 | 51.0 | 48.1 | 11.1 | 33.4 | +0.1 |
| Apr 12, 2026 | 41.5 | 50.2 | 51.0 | 48.1 | 11.1 | 32.7 | -0.1 |
| Apr 9, 2026 | 41.6 | 50.2 | 51.0 | 48.1 | 11.1 | 33.3 | +0.1 |
| Apr 5, 2026 | 41.5 | 50.2 | 51.0 | 47.7 | 11.1 | 33.2 | -0.1 |
| Apr 2, 2026 | 41.6 | 50.2 | 51.0 | 47.7 | 11.1 | 33.8 | — |
NJR — Pillar Breakdown
Quality
— 52.1/100 (25%)New Jersey Resources Corporation has average quality metrics, with room for improvement in margins or capital efficiency.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 44.8/100 (20%)New Jersey Resources Corporation shows steady but unspectacular growth, typical for mature companies.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 16.6/100 (15%)New Jersey Resources Corporation presents elevated risk with concerns around leverage or financial stability.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 41.1/100 (15%)New Jersey Resources Corporation has a mixed valuation — some metrics suggest fair value while others appear stretched.
Inverse of forward P/E — higher yield means cheaper stock.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 51/100 (25%)New Jersey Resources Corporation possesses some competitive advantages but faces meaningful competition. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for NJR.
Score Composition
Financial Data
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How is the NJR UQS Score Calculated?
The UQS (Unified Quality Score) for New Jersey Resources Corporation is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses New Jersey Resources Corporation's competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether New Jersey Resources Corporation is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.