New Jersey Resources Corp, commonly referred to as NJR, is a diversified energy company based in Wall, New Jersey. The company was founded in 1922 and has since grown to become a prominent player in the energy sector. NJR operates through several subsidiaries and provides a range of energy services to residential, commercial, and industrial customers.
One of NJR's primary businesses is New Jersey Natural Gas (NJNG), a regulated utility that delivers natural gas to more than half a million customers in New Jersey. NJNG's extensive pipeline system ensures reliable and safe natural gas distribution throughout the state. The utility is known for its commitment to customer satisfaction and has consistently ranked highly in customer satisfaction surveys.
NJR Energy Services is another important subsidiary of New Jersey Resources. It focuses on wholesale energy trading and asset management, providing energy-related services to customers across the United States. The company leverages its expertise in natural gas supply and market dynamics to offer customized energy solutions and optimize energy procurement for its clients.
In addition to its core businesses, NJR is actively involved in renewable energy initiatives. The company owns and operates onshore and offshore wind farms, solar facilities, and anaerobic digestion projects. NJR Clean Energy Ventures, the renewable energy arm of NJR, is responsible for the development and management of these projects, contributing to the company's sustainable energy portfolio.
NJR is listed on the New York Stock Exchange (NYSE) under the ticker symbol "NJR." The company's consistent financial performance and commitment to operational excellence have earned it recognition within the industry. NJR has also received accolades for its corporate governance practices and commitment to transparency.
While NJR's core business revolves around natural gas distribution, the company's foray into renewable energy reflects its strategic focus on a more sustainable future. By expanding its renewable energy portfolio, NJR aims to reduce its carbon footprint and contribute to the development of a cleaner energy landscape. This commitment to sustainable practices aligns with the growing global emphasis on transitioning to cleaner energy sources.