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Raw inputs
Equipment
Foundry
Chip design
Software
AI demand
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Company details
Market cap
$4.5B
P/E ratio
13×
Div yield
3.8%
EPS (FY25)
$3.35
Profit margin
16%
Rev. growth
+13%
Revenue (FY25)
$2.0B
NJNG customers
~589K
In plain English
New Jersey Resources is a Wall Township, NJ energy holding company whose heart is New Jersey Natural Gas — a state-regulated monopoly delivering gas to ~589,000 homes and businesses along the Jersey Shore. Around that steady, rate-base engine it stacks four non-utility businesses: commercial solar (Clean Energy Ventures), a wholesale gas-trading desk (Energy Services), storage-and-pipeline assets (Leaf River, Adelphia Gateway), and home HVAC services. Regulated gas is ~64% of revenue but the mix is what smooths the earnings.
In simple terms
Where NJR sits in the energy chain
Gas flows from producers, down interstate pipelines like Transco, into New Jersey Natural Gas's mains, and out to ~589,000 homes and businesses. NJR also sits at other points in the chain — storing gas at Leaf River, moving it on Adelphia Gateway, generating solar power, and trading gas wholesale.
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