Reasons to Add New Jersey Resources (NJR) to Your Portfolio Now

Core Viewpoint - New Jersey Resources (NJR) is positioned as a strong investment option in the utility sector due to its infrastructure upgrades, earnings growth opportunities, and robust return on equity (ROE) [1] Growth Projections & Surprise History - NJR has delivered an average earnings surprise of 107.4% over the last four quarters [2] Return on Equity - NJR's current ROE stands at 12.16%, surpassing the industry average of 9.7%, indicating more effective utilization of funds compared to peers in the utility gas distribution sector [3] Dividend Growth - NJR has increased its quarterly dividend to 42 cents per share, resulting in an annualized dividend of $1.68 per share, which is a 7.7% increase from the previous $1.56. The current dividend yield is 3.99%, significantly higher than the Zacks S&P 500 composite's 1.29% [4] Systematic Investments & Customer Growth - The company is making consistent investments to upgrade its infrastructure, with expected capital investments of $619-$754 million for fiscal 2024 and $578-$742 million for fiscal 2025 [5] - NJR added 4,058 new customers in the first six months of fiscal 2024, slightly down from 4,064 in the same period of fiscal 2023, which is expected to contribute approximately $3.4 million in incremental utility gross margin annually [12] Price Performance - Over the past three months, NJR shares have increased by 2%, outperforming the sector's growth of 1.4% [13]