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New Jersey Resources anticipates NFE per share in USD0.20 -USD0.25 range in third fiscal quarter.

M2 EQUITYBITES-July 19, 2013-New Jersey Resources anticipates NFE per share in USD0.20 -USD0.25 range in third fiscal quarter(C)2013 M2 COMMUNICATIONS

Natural gas company New Jersey Resources (NYSE:NJR) stated on Thursday that it expects NFE per share between USD0.20 and USD0.25 in the third fiscal quarter of 2013.

This marks an improvement when compared with USD0.10 NFE per share recorded the prior year.

According to the company, its goal of long-term average annual Net Financial Earnings (NFE) per share growth of 4% to 7 %, with an aggressive capital programme expected to drive strong results at New Jersey Natural Gas (NJNG), its regulated utility business, and a reduced reliance on investment tax credits from solar investments at its unregulated clean energy subsidiary.

The company reaffirms its NFE outlook in a range of USD2.60 to USD2.75 per basic share for fiscal 2013.

In addition, the company will announce its 2013 third-quarter earnings on 7 August 2013 at 9:00. ET.

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Publication:M2 EquityBites (EQB)
Geographic Code:1U2NJ
Date:Jul 19, 2013
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