New Jersey Resources: Undervalued Growth In A Defensive Utility Sector

  • New Jersey Resources combines strong core utility growth, clean energy expansion, and disciplined capital allocation, driving robust earnings and sector-leading profitability. Shares trade at a notable discount to peers, offering a 4% dividend yield and upside potential as the market recognizes NJR's superior returns and growth pipeline. Regulatory support, a diversified business mix, and a visible capex plan underpin 7–9% EPS growth, with free cash flow set to turn positive by 2026–27.