In the dividend investing community, it's often said that the safest dividend is the one just raised. If somebody digs deep enough, notable exceptions can be found, like W. P. Carey ( WPC Hi, my name is Kody. Aside from my weekly articles here on Seeking Alpha, I am also a contributor to Sure Dividend, Dividend Kings, and iREIT+Hoya Capital. I have been investing since September 2017 and interested in dividend investing since about 2009.Since July 2018, I have ran Kody's Dividends. This is a blog that is do ...

New Jersey Resources (NJR) announced that its board of directors has approved a 7.1% increase in its quarterly dividend rate. The new dividend rate will be 45 cents per share compared with the previous quarter's 42 cents, payable on Oct. 1, 2024, to stockholders of record as of Sept. 23. This increase resulted in an annualized dividend of $1.80 per share compared with the previous level of $1.68. The company has paid quarterly dividends continuously since its inception in 1952 and has raised the dividend ev ...

New Jersey Resources (NJR) continues to benefit from its investments in infrastructure that help serve its expanding customer base more efficiently. Given its earnings growth opportunities and strong return on equity (ROE), NJR makes for a solid investment option in the utility sector. Let's focus on the factors that make this Zacks Rank #2 (Buy) company a strong investment pick at the moment. NJR's Growth Projections The Zacks Consensus Estimate for fiscal 2024 earnings per share (EPS) has moved up 0.3% in ...

Nevis Brands (CSE:NEVI, OTCQB:PSCBF) CEO John Kueber joined Proactive to discuss the company's new licensing agreement with Stash House to produce and distribute Major-branded cannabis beverages in New Jersey. Kueber highlighted the importance of New Jersey's market due to its proximity to major population centers like New York City. He also provided an update on the company's regulatory approval efforts in Michigan, expressing optimism about entering the market before the end of the year. Proactive: You've ...

Financial Performance - Total operating revenues for the three months ended June 30, 2024, were $275.636 million, compared to $264.075 million for the same period in 2023, representing a year-over-year increase of approximately 4.4%[10] - Net loss for the three months ended June 30, 2024, was $11.574 million, compared to a net income of $1.532 million for the same period in 2023, indicating a significant decline in profitability[11] - Operating income for the nine months ended June 30, 2024, was $311.977 million, down from $342.707 million for the same period in 2023, a decrease of approximately 8.9%[10] - Net income for the nine months ended June 30, 2024, was $198,649,000, a decrease of 12.8% compared to $227,700,000 for the same period in 2023[13] - Cash flows from operating activities totaled $362,894,000, down from $387,898,000 in the previous year, reflecting a decrease of 6.4%[13] - The company reported a net loss of $11,574,000 for the three months ended June 30, 2024, compared to a net income of $1,532,000 for the same period in 2023[102] Revenue Breakdown - The utility segment generated revenues of $157.773 million for the three months ended June 30, 2024, up from $144.971 million in the same period last year, reflecting a growth of about 8.8%[10] - Natural gas utility sales for the nine months ended June 30, 2024, reached $767.698 million, compared to $749.618 million in 2023, indicating an increase of about 2.5%[58] - Revenues from contracts with customers for the three months ended June 30, 2024, totaled $209.892 million, up from $199.315 million in 2023, reflecting a growth of approximately 5.3%[56] - The company reported natural gas services revenue of $40.679 million for the three months ended June 30, 2024, compared to $38.222 million in 2023, marking a growth of approximately 6.4%[56] - Operating revenues for NJNG in 2024 from external customers were $157.773 million, compared to $144.971 million in 2023, representing an increase of about 8.9%[131] Expenses and Losses - Total operating expenses for the three months ended June 30, 2024, were $269.700 million, compared to $259.341 million for the same period in 2023, an increase of about 4%[10] - The company faced increased operating expenses due to higher natural gas purchase costs, with utility natural gas purchases amounting to $53.372 million for the three months ended June 30, 2024[10] - The basic loss per share for the three months ended June 30, 2024, was $(0.12), compared to earnings of $0.02 per share for the same period in 2023[10] - Comprehensive loss income for the three months ended June 30, 2024, was $(11.679) million, compared to $1.836 million for the same period in 2023[11] - The company reported a $12.3 million increase in operating and maintenance expenses for the nine months ended June 30, 2024, compared to the same period in 2023[193] Assets and Liabilities - Total assets increased to $6,784,121,000 as of June 30, 2024, compared to $6,537,496,000 as of September 30, 2023, representing a growth of 3.8%[14] - Current liabilities totaled $894,347,000 as of June 30, 2024, an increase from $806,603,000 in 2023, indicating a rise of about 10.86%[16] - Long-term debt stood at $2,793,672,000 as of June 30, 2024, compared to $2,768,017,000 in 2023, reflecting a slight increase of approximately 0.93%[16] - Total noncurrent liabilities decreased to $953,084,000 as of June 30, 2024, down from $972,141,000 in 2023, indicating a reduction of approximately 1.93%[16] - The carrying value of long-term debt as of June 30, 2024, was $2,692,845 thousand, with a fair market value of $2,306,291 thousand[95] Customer and Market Information - NJNG provides natural gas utility service to approximately 582,100 customers across New Jersey, with regulated rates by the BPU[21] - The company added 5,939 new customers during the nine months ended June 30, 2024, contributing an estimated $5.1M in incremental Utility Gross Margin annually[165] - NJNG's operations are focused on providing safe and reliable service, growing its customer base, and promoting clean energy programs[160] Regulatory and Compliance - NJNG filed a petition for BPU approval of its 2024 SAVEGREEN program, which includes a direct investment of $245.1 million aimed at energy efficiency and decarbonization initiatives[70] - NJNG filed a base rate case requesting a natural gas revenue increase of $222.6 million, later updated to $219.6 million[71] - BPU approved a $38.6 million decrease to annual revenues credited to BGSS and a $27.0 million increase to CIP rates effective October 1, 2023[72] Clean Energy Initiatives - The Clean Energy Ventures segment invests in clean energy projects, including solar installations across multiple states[21] - The company is actively pursuing opportunities in renewable energy markets through Clean Energy Ventures, focusing on solar projects[194] - CEV's operating revenues for the three months ended June 30, 2024, were $14.648 million, compared to $13.178 million for the same period in 2023, reflecting an increase of approximately 11.1%[205] Derivative Instruments and Risk Management - The fair value of the Company's derivative assets as of June 30, 2024, was $5.75 million, while liabilities were $19.59 million[81] - The company is exposed to commodity price risk and utilizes various derivative instruments to hedge this risk[74] - Total unrealized and realized gain (loss) from derivatives for the three months ended June 30, 2024, was $(1,645) thousand, compared to $11,592 thousand for the same period in 2023[84]

New Jersey Resources Corporation (NYSE:NJR) Q3 2024 Results Conference Call August 6, 2024 10:00 AM ET Company Participants Adam Prior - Head of Investor Relations Steve Westhoven - President and Chief Executive Officer Roberto Bel - Senior Vice President and Chief Financial Officer Pat Migliaccio - Senior Vice President and Chief Operating Officer Conference Call Participants Richard Sunderland - JPMorgan Travis Miller - Morningstar Michael Gaugler - Janney Montgomery Scott Robert Mosca - Mizuho Operator H ...

New Jersey Resources (NJR) came out with a quarterly loss of $0.09 per share versus the Zacks Consensus Estimate of a loss of $0.02. This compares to earnings of $0.10 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -350%. A quarter ago, it was expected that this energy services holding company would post earnings of $1.32 per share when it actually produced earnings of $1.40, delivering a surprise of 6.06%. Over the last fou ...

Exhibit 99.1 NEW JERSEY RESOURCES REPORTS FISCAL 2024 THIRD-QUARTER RESULTS WALL, N.J., August 6, 2024 — Today, New Jersey Resources Corporation (NYSE: NJR) reported results for the third quarter of fiscal 2024. Highlights include: • Consolidated net loss of $(11.6) million, compared with net income of $1.5 million in the third quarter of fiscal 2023 • Consolidated net financial loss, a non-GAAP financial measure, of $(8.9) million, or $(0.09) per share, compared to net financial earnings (NFE), a non-GAAP ...

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Please note that a negative Earnings ESP reading is not indicative of an earn ...

New Jersey Resources (NJR) continues to benefit from its infrastructure upgrades that help serve the company's expanding customer base more efficiently. Given its earnings growth opportunities and strong return on equity (ROE), NJR makes for a solid investment option in the utility sector. NJR has been increasing the value of its shareholders by paying out dividends. Currently, its quarterly dividend is 42 cents per share, resulting in an annualized dividend of $1.68 per share, up 7.7% from the previous fig ...