Definitive Analysis
Definitive Analysis
Get Full Access
See Pricing Start Free Trial

New Jersey Resources Corporation (NJR)

Company Dividend Discount ModelIndustry: Regulated GasSector: Utilities

Valuation Snapshot

Stable Growth$78.18 - $207.39$119.55
Multi-Stage$55.34 - $60.37$57.81
Blended Fair Value$88.68
Current Price$48.15
Upside84.17%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS8.86%8.93%1.791.641.501.271.161.171.030.950.870.82
YoY Growth--9.09%9.33%18.22%9.19%-0.72%13.21%8.58%8.92%6.72%7.73%
Dividend Yield--3.71%3.51%3.36%2.56%2.83%3.29%2.32%2.08%2.17%2.31%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)335.63
(-) Cash Dividends Paid (M)180.07
(=) Cash Retained (M)155.56
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)67.1341.9525.17
Cash Retained (M)155.56155.56155.56
(-) Cash Required (M)-67.13-41.95-25.17
(=) Excess Retained (M)88.44113.61130.39
(/) Shares Outstanding (M)100.70100.70100.70
(=) Excess Retained per Share0.881.131.29
LTM Dividend per Share1.791.791.79
(+) Excess Retained per Share0.881.131.29
(=) Adjusted Dividend2.672.923.08
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate5.50%6.50%7.50%
Fair Value$78.18$119.55$207.39
Upside / Downside62.37%148.28%330.72%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)335.63357.44380.68405.42431.77459.84473.63
Payout Ratio53.65%60.92%68.19%75.46%82.73%90.00%92.50%
Projected Dividends (M)180.07217.76259.58305.93357.21413.85438.11

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)197.72199.60201.47
Year 2 PV (M)214.02218.09222.21
Year 3 PV (M)229.02235.60242.30
Year 4 PV (M)242.81252.15261.75
Year 5 PV (M)255.43267.77280.58
PV of Terminal Value (M)4,434.324,648.504,870.87
Equity Value (M)5,573.325,821.706,079.18
Shares Outstanding (M)100.70100.70100.70
Fair Value$55.34$57.81$60.37
Upside / Downside14.94%20.06%25.37%

High-Yield Dividend Screener

« Prev Page 19 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
SIGISelective Insurance Group, Inc.1.77%$1.4822.19%
FUSBFirst US Bancshares, Inc.1.76%$0.2526.72%
RRyder System, Inc.1.76%$3.4128.29%
RGAReinsurance Group of America, Incorporated1.75%$3.5527.34%
TFG.ASTetragon Financial Group Limited1.75%$0.303.32%
WFCWells Fargo & Company1.75%$1.6725.46%
HCKTThe Hackett Group, Inc.1.74%$0.3485.97%
LEGLeggett & Platt, Incorporated1.74%$0.1911.94%
RPRXRoyalty Pharma plc1.74%$0.6749.36%
SFBCSound Financial Bancorp, Inc.1.74%$0.7637.96%
SXTSensient Technologies Corporation1.74%$1.6350.00%
MKTXMarketAxess Holdings Inc.1.73%$3.0952.31%
PRGPROG Holdings, Inc.1.73%$0.5112.57%
STELStellar Bancorp, Inc.1.73%$0.5326.88%
UFCSUnited Fire Group, Inc.1.73%$0.6214.63%
AMALAmalgamated Financial Corp.1.72%$0.5516.32%
BKThe Bank of New York Mellon Corporation1.72%$2.0127.06%
COWNCowen Inc.1.72%$0.6733.32%
DGDollar General Corporation1.72%$2.3540.66%
AMKRAmkor Technology, Inc.1.71%$0.7359.04%
DTFDTF Tax-Free Income 2028 Term Fund Inc.1.71%$0.2080.42%
ERIEErie Indemnity Company1.71%$4.7538.59%
FLXSFlexsteel Industries, Inc.1.71%$0.6817.01%
MTCHMatch Group, Inc.1.71%$0.5425.07%
LBRTLiberty Energy Inc.1.70%$0.3228.43%
OVBCOhio Valley Banc Corp.1.70%$0.6728.36%
WTFCWintrust Financial Corporation1.70%$2.4320.92%
BANFBancFirst Corporation1.69%$1.8025.72%
BDLFlanigan's Enterprises, Inc.1.69%$0.5021.50%
CDHAXCalvert International Responsible Idx A1.69%$0.6441.92%
CINRSisecam Resources LP1.69%$0.3419.21%
EXPOExponent, Inc.1.69%$1.1858.07%
GDGeneral Dynamics Corporation1.69%$5.8037.41%
HQIHireQuest, Inc.1.69%$0.1836.36%
OTFBlue Owl Technology Finance Corp.1.69%$0.249.20%
PHINPHINIA Inc.1.68%$1.0947.78%
PTRSPartners Bancorp1.68%$0.1213.62%
RNGRRanger Energy Services, Inc.1.67%$0.2434.90%
HQHAbrdn Healthcare Investors1.66%$0.316.95%
JILLJ.Jill, Inc.1.66%$0.2310.45%
PSH.ASPershing Square Holdings, Ltd.1.65%$0.856.48%
SKTTanger Inc.1.65%$0.5558.16%
USCBUSCB Financial Holdings, Inc.1.64%$0.3018.70%
BOTJBank of the James Financial Group, Inc.1.62%$0.3026.41%
RSReliance Steel & Aluminum Co.1.62%$4.7834.66%
SCIService Corporation International1.62%$1.2533.57%
SMLPSummit Midstream Partners, LP1.62%$0.596.02%
TKRThe Timken Company1.62%$1.4032.90%
TRINLTrinity Capital Inc. - 7.00% No1.62%$0.4120.50%
CARRCarrier Global Corporation1.61%$0.8618.56%