Core Viewpoint - New Jersey Resources (NJR) is anticipated to report a year-over-year decline in earnings despite an increase in revenues for the quarter ending December 2025, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - The upcoming earnings report is expected to reveal quarterly earnings of $0.99 per share, reflecting a year-over-year decrease of 23.3%, while revenues are projected to be $514.43 million, representing a 5.3% increase from the previous year [3]. Estimate Revisions - The consensus EPS estimate has been revised down by 8.91% over the last 30 days, indicating a reassessment by analysts regarding the company's earnings outlook [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that the Most Accurate Estimate for NJR is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +1.27%, suggesting a more optimistic view from analysts [12]. Historical Performance - NJR has a history of beating consensus EPS estimates, having done so in the last four quarters, with a notable surprise of +6.67% in the most recent quarter [13][14]. Stock Movement Factors - The stock's movement will depend not only on the earnings results but also on management's commentary during the earnings call, which will influence future earnings expectations [2][15].

Financial Data and Key Metrics Changes - The company has maintained a consistent dividend payout since 1952, increasing it for over 30 consecutive years, with a payout ratio of about 60% [17] - Strong financial discipline supports the dividend, which is a core financial priority for the company [17] Business Line Data and Key Metrics Changes - The natural gas segment remains the largest business and foundation of the company, with a focus on energy efficiency programs that can save customers up to 30% on their bills [15][16] - The company is on track to increase service capacity by over 50% in the next two years in its CV segment, while the storage and transport business expects to more than double its NFE over the same period [19] Market Data and Key Metrics Changes - Natural gas is reported to be four times cheaper than electricity, with residential natural gas prices nearly 30% lower than national averages [15] - The company is experiencing increased demand due to colder weather, which is expected to reflect in higher consumption and bills [15] Company Strategy and Development Direction - The growth strategy is supported by a broader portfolio of complementary businesses, including solar and midstream operations, which leverage the company's core strengths [18] - There is a strong demand for clean energy solutions and infrastructure, positioning the company for long-term sustainable growth [19] Management's Comments on Operating Environment and Future Outlook - The management acknowledges the need for new supply to support economic growth and reliability for customers [16] - The company is committed to executing its strategy and delivering performance while rewarding shareholder confidence [23] Other Important Information - The board of directors has been re-elected, and the appointment of Deloitte and Touche LLP as the independent registered accounting firm has been ratified for the fiscal year ending September 30, 2026 [8] Q&A Session Summary Question: How are you managing energy costs for your customers? - The company emphasizes that natural gas is the most affordable heating option, with programs in place to help mitigate costs through energy efficiency and bill payment assistance [15][16] Question: Is NJR's dividend growth safe and sustainable? - The company assures that dividends are secure, supported by strong financial discipline and a consistent payout ratio [17] Question: What role do NJR's solar and midstream businesses play in the company's long-term strategy? - The management highlights that these businesses complement the utility operations and provide growth opportunities in the energy market [18][19] Question: When will the roads in Brick Township be repaved? - The management commits to addressing the issue but does not provide a specific timeline, indicating that snow may delay the process [21]

Financial Data and Key Metrics Changes - The company has maintained a consistent dividend payout ratio of about 60%, supported by strong financial discipline and a solid balance sheet, indicating a secure dividend growth strategy [17] - The company has paid dividends continuously since 1952 and has increased them for over 30 consecutive years, reflecting a commitment to shareholder returns [17] Business Line Data and Key Metrics Changes - New Jersey Natural Gas remains the largest business and foundation of the company, with growth supported by complementary non-utility businesses that leverage market expertise and operational flexibility [18][19] - The company’s solar and midstream businesses are expected to play a significant role in long-term strategy, with a projected increase in service capacity by over 50% in the next two years for CEV and more than double the NFE for storage and transport [19] Market Data and Key Metrics Changes - Natural gas is highlighted as the most affordable energy source, being four times cheaper than electricity and nearly 30% less expensive than national averages for residential customers in New Jersey [15] - Increased demand for energy is noted, particularly due to colder weather, which is expected to lead to higher consumption and bills, although the company has programs to mitigate these costs for customers [15][16] Company Strategy and Development Direction - The company’s growth strategy is focused on providing affordable and reliable energy while addressing infrastructure needs and clean energy solutions [18] - The management emphasizes the importance of balancing shareholder returns with reinvestment for growth, which is fundamental to the company's long-term strategy [17] Management Comments on Operating Environment and Future Outlook - Management acknowledges the challenges posed by increased demand and colder weather but expresses confidence in the company’s ability to support economic growth and customer needs through new supply initiatives [15][16] - The company is well-positioned to capitalize on growth opportunities in the energy market, particularly in clean energy solutions and infrastructure [18][19] Other Important Information - The company recognized the contributions of retiring board chair Don Correll and welcomed new directors Amy Mansue and Bill Yardley, indicating a focus on strong leadership and governance [9][10] Q&A Session Summary Question: How are you managing energy costs for your customers? - Management highlighted that natural gas is the most affordable heating option and mentioned energy efficiency programs that can reduce bills by up to 30% for participating customers [15][16] Question: Is NJR's dividend growth safe and sustainable? - Management confirmed the security of dividends, citing a long history of continuous payments and annual increases, supported by strong financial metrics [17] Question: What role do NJR's solar and midstream businesses play in the company's long-term strategy? - Management explained that these businesses complement the utility operations and are essential for meeting growing energy needs, with significant growth expected in service capacity [18][19] Question: When will the roads in Brick Township be repaved? - Management stated they would follow up on the specific timing for road repaving, emphasizing their commitment to customer care and service area maintenance [20][21]

Financial Data and Key Metrics Changes - The company has maintained a consistent dividend payout ratio of about 60%, supported by strong financial discipline and a solid balance sheet [17] - NJR has paid dividends continuously since 1952 and has increased them for over 30 consecutive years [17] Business Line Data and Key Metrics Changes - The natural gas segment remains the largest business and foundation of the company, with a focus on affordability as natural gas is four times cheaper than electricity [14][15] - The company is experiencing increased demand for natural gas due to colder weather, which is expected to reflect in higher bills, but energy efficiency programs are in place to help mitigate costs for customers [15][16] - The solar and midstream businesses are integral to the company's growth strategy, leveraging core strengths to provide energy solutions [18][19] Market Data and Key Metrics Changes - Residential natural gas prices in New Jersey are nearly 30% less expensive than national averages, highlighting the company's competitive position in the market [15] Company Strategy and Development Direction - NJR's growth strategy is supported by a diverse portfolio of complementary businesses, which are expected to drive long-term sustainable growth [18][19] - The company is focused on meeting the growing demand for clean energy solutions and infrastructure needs [18] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges posed by increased demand and colder weather but emphasizes the company's readiness to support economic growth and reliability for customers [16] - The company is optimistic about the prospects for growth in the energy market, particularly in clean energy solutions [18][19] Other Important Information - The board of directors has been re-elected, and the appointment of Deloitte and Touche LLP as the independent registered accounting firm has been ratified [8] Q&A Session Summary Question: How is the company managing energy costs for customers? - The company highlighted that natural gas remains the most affordable heating option, with programs in place to help customers reduce their bills by up to 30% [14][15][16] Question: Is NJR's dividend growth safe and sustainable? - Management confirmed that dividends are secure, with a long history of continuous payments and increases, supported by strong financial metrics [17] Question: What role do NJR's solar and midstream businesses play in the long-term strategy? - The company stated that these businesses complement the utility operations and are essential for meeting growing energy needs [18][19] Question: When will the roads in Brick Township be repaved? - Management indicated they would follow up on the specific timing for road repaving, emphasizing their commitment to customer care [20]

Core Points - New Jersey Resources (NJR) held its 2026 Annual Meeting where five directors were elected for three-year terms expiring in 2029 [1] - Donald L. Correll retired after 17 years of service, and Thomas C. O'Connor was appointed as the new Board Chair [2][3] Company Overview - NJR is a Fortune 1000 company providing natural gas and clean energy services through its subsidiaries, including transportation, distribution, asset management, and home services [5] - The principal subsidiary, New Jersey Natural Gas, operates natural gas transportation and distribution infrastructure in several New Jersey counties [5] - Clean Energy Ventures focuses on solar projects for low-carbon solutions [6] - Energy Services manages a portfolio of natural gas transportation and storage assets across North America [6] - Storage and Transportation serves various customers through ownership of energy infrastructure [7] - Home Services offers service contracts and energy-efficient products to residential customers in New Jersey [8]

Core Viewpoint - New Jersey Resources Corporation (NYSE:NJR) is identified as a promising investment in the hydrogen and fuel cell sector for 2026, with a recent upgrade from Mizuho indicating strong fundamentals and attractive valuation [1]. Financial Performance - NJR reported mixed financial results for the fiscal fourth quarter of 2025, with earnings per share of $0.16, falling short of the expected $0.19, resulting in a 15.79% negative surprise [3]. - The company exceeded revenue expectations, reporting $336.08 million compared to the anticipated $307.19 million [3]. Market Position and Outlook - Mizuho upgraded NJR from Neutral to Outperform, raising its price target to $54 from $51, citing a 23% discount relative to its local distribution peer group based on 2028 consensus expectations [1]. - NJR is considered largely insulated from regulatory challenges affecting other local power companies, which are facing scrutiny regarding affordability [2]. - Positive growth outlooks are noted for NJR's S&T and CEV divisions, with the CEV division expected to benefit from in-state generation requirements [2]. Company Overview - New Jersey Resources Corporation is a diversified energy holding company that provides regulated natural gas distribution, transmission, and storage services, along with unregulated clean energy operations [4].

Core Insights - Two stocks in the utilities sector are signaling potential warnings for momentum-focused investors as of November 24, 2025 [1] Company Performance - UGI Corp reported better-than-expected fourth-quarter adjusted EPS results, with a record adjusted earnings per share that exceeded revised guidance [7] - UGI's stock gained approximately 12% over the past month, reaching a 52-week high of $37.78, with an RSI value of 88.9 [7] - New Jersey Resources Corp posted mixed quarterly results, achieving NFEPS at the high end of guidance for the fifth consecutive year [7] - NJR's stock increased around 6% over the past month, with a 52-week high of $51.94 and an RSI value of 74.5 [7] Stock Performance Metrics - UGI's shares rose 7.1% to close at $37.61 on the last trading day [7] - New Jersey Resources' shares rose 1.6% to close at $48.83 on the last trading day [7] - UGI has a momentum score of 74.54 and a value score of 64.35 [7]

Core Insights - Two stocks in the utilities sector are signaling potential warnings for momentum-focused investors as of November 24, 2025 [1] Company Performance - UGI Corp reported better-than-expected fourth-quarter adjusted EPS results, with a record adjusted earnings per share that exceeded revised guidance [7] - UGI's stock gained approximately 12% over the past month, reaching a 52-week high of $37.78, with an RSI value of 88.9 [7] - New Jersey Resources Corp posted mixed quarterly results, achieving NFEPS at the high end of its guidance range for the fifth consecutive year [7] - NJR's stock increased around 6% over the past month, with a 52-week high of $51.94 and an RSI value of 74.5 [7] Stock Performance Metrics - UGI's shares rose 7.1% to close at $37.61 on the last trading day [7] - New Jersey Resources' shares rose 1.6% to close at $48.83 on the last trading day [7] - UGI has a momentum score of 74.54 and a value score of 64.35 [7]

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Financial Performance - Net income for fiscal year 2025 was $335.6 million, an increase of 15.9% from $289.8 million in 2024[38] - NFE (Non-GAAP financial measure) for fiscal year 2025 was $329.6 million, up 13.3% from $290.8 million in 2024[38] - Total operating revenue for NJNG in fiscal year 2025 reached $1.3 billion, a 27.8% increase from $1.02 billion in 2024[44] - Residential operating revenue increased to $781.3 million in 2025, up 21.7% from $642.4 million in 2024[44] Customer Base and Service Delivery - NJNG's service territory covers 1,538 square miles and serves an estimated population of 1.7 million people[42] - As of September 30, 2025, NJNG had 13,121 residential and 7,846 commercial and industrial customers utilizing transportation services[63] - NJNG maintains firm transportation and storage capacity agreements totaling 914,163 Dths for reliable service delivery[51] Natural Gas Supply and Management - NJNG purchased natural gas from approximately 63 suppliers in fiscal 2025, with over 10% sourced from two suppliers[49] - The company utilizes financial derivative instruments to mitigate the impact of volatile wholesale natural gas prices on customers[58] - NJNG expects to meet natural gas requirements for existing and projected firm customers and plans to renegotiate contracts as needed[59] Environmental and Remediation Efforts - NJNG estimates future expenditures for environmental remediation of former MGP sites will range from approximately $144.3 million to $200.2 million[88] - As of September 30, 2025, NJNG recorded an MGP remediation liability of $167.0 million on the Consolidated Balance Sheets[89] - NJNG is involved in administrative proceedings with the NJDEP for the remedial cleanup of former MGP sites dating back to the late 1800s[200] Employee and Workforce Management - As of September 30, 2025, the Company employed 1,376 employees, a slight increase from 1,372 employees as of September 30, 2024[91] - NJNG and NJRHS have collective bargaining agreements with the Union, with contracts ratified on August 6, 2025, and July 29, 2025, respectively, covering wage increases and benefits[91] - The Company offers competitive compensation packages and periodically reviews employee compensation to ensure competitiveness within the industry[93] Risks and Challenges - The company faces risks related to attracting and retaining a qualified workforce, which is essential for implementing its business strategy and maintaining operations[114] - Weather patterns significantly influence demand for natural gas, with milder winters or cooler summers potentially leading to decreased revenues and cash flows[116] - Climate change poses risks that could affect the cost of providing natural gas and the demand for it, impacting the company's financial performance[119] Regulatory and Compliance Issues - Regulatory changes and compliance costs may significantly affect the company's operations and profitability, particularly regarding natural gas pricing and supply[125] - NJNG's ability to obtain rate increases and maintain authorized rates of return may be impacted by regulatory actions and the transition to new information technology systems[133] - Regulatory decisions by the BPU will impact the recovery of costs and the rate of return on invested capital for NJNG[217] Cybersecurity and Technology Risks - The company continues to face risks from cyberattacks, which could adversely affect business operations and financial results[136] - The reliance on information technology for managing natural gas distribution and trading operations exposes the company to potential disruptions and data breaches[137] - The Audit Committee oversees the company's cybersecurity risk management practices and receives updates at least quarterly from senior leadership[185] Market and Economic Factors - Economic and political instability could create uncertainty, increasing the cost of capital and impairing access to financial markets[161] - Inflation and rising natural gas costs may increase customer debt levels and adversely affect collections[149] - Changes in customer growth, particularly in the housing market, could negatively impact the company's Utility Gross Margin and cash flows[145] Investments and Acquisitions - Acquisitions involve risks, including the potential failure to realize anticipated synergies and growth opportunities[160] - The company is exposed to market risks that could impact the value of its transportation and storage contracts[148] Solar Energy Initiatives - CEV operates approximately 479 MW of solar capacity across seven states as of September 30, 2025[65] - CEV sold its residential solar portfolio on November 25, 2024, to a third party[66] - NJR's investments in solar energy projects face risks related to construction, permitting, and regulatory approvals, which could impact project viability[106]