NewJersey Resources Corporation (NJR) Stock Price & How to Invest

New Jersey Resources is a diversified energy infrastructure company headquartered in Wall, New Jersey. Its core is New Jersey Natural Gas (NJNG), a regulated utility that distributes gas to roughly 5.6 million people across Monmouth, Ocean, Morris, Middlesex, Sussex and Burlington counties. Around it sit three non-utility segments: Clean Energy Ventures (solar generation), Energy Services (a wholesale natural gas trading and asset-optimization business active across North America), and Storage and Transportation (the Adelphia Gateway pipeline, the Leaf River salt-dome storage facility, and a 50% stake in Steckman Ridge). Company guidance points to the regulated utility contributing roughly 62 to 67 percent of net financial earnings, with the remainder split among Energy Services, Clean Energy Ventures and Storage and Transportation.

The investment picture is that of a regulated-utility income vehicle with a growth tilt from infrastructure spending. NJR targets 7 to 9 percent long-term net financial earnings per share growth, funded by a large multi-year capital program weighted toward the utility. Fiscal 2025 net income was about $335.6 million (roughly $3.35 per share), and management has raised fiscal 2026 guidance twice, largely on unusually strong Energy Services trading results tied to natural gas price volatility. That trading upside is a double-edged sword: it can lift a given year but is inherently less predictable than regulated utility earnings, so the quality of a strong quarter depends heavily on where it came from.

As a regulated utility, NJR depends on favorable rate-case outcomes from New Jersey regulators, and unfavorable rulings can compress returns on its heavy capital spending. Rising interest rates raise financing costs for a capital-intensive balance sheet and can make utility dividend yields less attractive relative to bonds. The Energy Services segment introduces earnings volatility tied to natural gas price swings, so strong years may not repeat and weak commodity environments can pressure results. Weather remains a swing factor for both utility demand and trading margins, as fiscal 2026 illustrated. Longer term, the energy transition and decarbonization policy could weigh on natural gas demand and asset values, and large ongoing capital needs may require continued debt and equity issuance.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see NewJersey Resources Corporation's investor relations page or your broker.

• Revenue (TTM): ~$2.1B
• Net income (FY2025): ~$336M
• EPS (TTM): ~$3.35
• Market cap: ~$4.7B
• FY2026 NFEPS guidance: ~$3.48 to $3.63
• Dividend yield: ~3.3%

NJR trades at a mid-teens multiple of earnings, roughly in line with regulated gas utility peers, reflecting a stable regulated core plus a variable trading component. Management has raised fiscal 2026 net financial earnings guidance twice, largely on strong Energy Services results, so the quality and repeatability of a given year's earnings depends on how much came from the regulated utility versus commodity trading. The roughly 3.3 percent dividend yield and steady dividend growth are central to the total-return story.

There are three common ways to get NJR exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so NJR sits alongside other stocks that express the same thesis.

Walnut takes the basket route. Describe a thesis where NJR fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

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NJR is a dividend-focused regulated gas utility with a diversified infrastructure tail, best understood as an income and stability holding whose earnings mix skews heavily toward its New Jersey utility.

Whether NJR is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is NJR a buy?, and where the stock could go from here in the NJR stock forecast.

For income investors, whether NJR pays a dividend and how the payout looks is covered in does NJR pay a dividend?