Argus Raises Price Target on New Jersey Resources (NJR) After Strong Q2 Earnings Beat

New Jersey Resources Corporation (NYSE:NJR) reported nett fiscal net per stock of $2.20 for the quarter, rising 24% from $1.78 successful the aforesaid play the erstwhile year. The results came successful acold supra expert forecasts, with the company’s Energy Services assemblage taking vantage of unpredictable wintertime marketplace circumstances.

Overall, the Energy Services conception had the champion performance, providing $37.0 cardinal successful Q2 NFE and $45.4 cardinal year-to-date, acknowledgment to earthy state terms swings and the company’s long-option positioning approach. Clean Energy Ventures, connected the different hand, recorded a $1.3 cardinal nonaccomplishment successful the 2nd 4th and $39.8 cardinal year-to-date, indicating the onset of task improvement and operation operations.

New Jersey Resources Corporation (NYSE:NJR) is simply a holding company. It provides regulated earthy state distribution, transmission, and retention services, arsenic good arsenic definite unregulated enterprises. It operates crossed 5 segments: earthy state distribution, cleanable vigor ventures, vigor services, retention and transportation, and location services and different services.

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