New Jersey Resources rises on profit beat

New Jersey Resources

17/11/2022 19:02

** New Jersey Resources Corp's shares  NJR.N  up 2.5% at
$45.94
    ** NJR reports fourth-quarter earnings of 57 cents/shr,
beating average analysts' estimate of 43 cents/shr - Refinitiv
data
    ** FY22 net earnings stood at $2.50/shr, beating average
analysts' estimate of $2.40/shr
    ** NJR sees FY23 earnings in the range of $2.42/shr to
$2.52/shr; analysts expect $2.46/shr
    ** Co also increases FY23 annual dividend by 7.6% to
$1.56/shr
    ** "We took advantage of tightening energy markets across
our complementary portfolio of businesses, allowing us to raise
guidance two times during the fiscal year," says CEO Steve
Westhoven
    ** More than 19 mln shares traded, 34 times their 25-day
moving avg
    ** Accounting for session gains, company's shares up 12% YTD
 (Reporting by Arshreet Singh in Bengaluru)
 ((Arshreet.Singh@thomsonreuters.com))