New Jersey Resources Corp

NJR: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$91.00	Jpclch	Xzlhphgh

New Jersey Resources Earnings: Pending Rate Case, Storage Expansion to Watch in 2024

Travis Miller

May 7, 2024

We reaffirm our $46 fair value estimate and narrow moat rating for New Jersey Resources after the firm reported $1.41 per share of adjusted earnings in its second fiscal quarter.

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We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

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To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

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