New Jersey Resources Corp. (NJR, Financial) filed Quarterly Report for the period ended 2010-06-30.
New Jersey Resources Corp. has a market cap of $1.57 billion; its shares were traded at around $38 with a P/E ratio of 18.1 and P/S ratio of 0.6. The dividend yield of New Jersey Resources Corp. stocks is 3.6%. New Jersey Resources Corp. had an annual average earning growth of 1.9% over the past 10 years.NJR is in the portfolios of Jim Simons of Renaissance Technologies LLC.
NJNG s capital expenditures result primarily from the need for services, mains and meters to support its continued customer growth, mandated pipeline safety rulemaking and general system improvements. NJNG s capital expenditures are expected to increase in fiscal 2010 when compared with the capital spending in fiscal 2009, due primarily to accelerated spending related to the AIP projects, which is estimated at $44.2 million. As of June 30, 2010, capital expenditures during fiscal 2010 for AIP totaled $17.9 million.
Cash flow used in financing activities totaled $39.8 million for the nine months ended June 30, 2010, compared with $223.6 million for the same period in the prior fiscal year due primarily to lower short-term borrowings at NJR and the repayment of long-term debt of $30 million and $25 million, respectively, at NJNG and NJR during fiscal 2009 that did not recur during fiscal 2010, offset by additional share repurchases and dividend payments during fiscal 2010.
NJNG received $4.9 million and $6.3 million in December 2009 and 2008, respectively, related to the natural gas meter sale and leaseback program, which is expected to be continued on an annual basis.
The VaR at June 30, 2010, using the variance-covariance method with a 95 percent confidence level and a 1-day holding period, was $342,000. The VaR with a 99 percent confidence level and a 10-day holding period was $1.5 million. The calculated VaR represents an estimate of the potential change in the value of the net positions. These estimates may not be indicative of actual results because actual market fluctuations may differ from forecasted fluctuations.
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New Jersey Resources Corp. has a market cap of $1.57 billion; its shares were traded at around $38 with a P/E ratio of 18.1 and P/S ratio of 0.6. The dividend yield of New Jersey Resources Corp. stocks is 3.6%. New Jersey Resources Corp. had an annual average earning growth of 1.9% over the past 10 years.NJR is in the portfolios of Jim Simons of Renaissance Technologies LLC.
Highlight of Business Operations:
In April 2009, Steckman Ridge received authorization to place certain injection related facilities into commercial operation and customers began to inject natural gas inventory in preparation for the initial withdrawal season. As of June 30, 2010, NJR has invested $126.8 million in Steckman Ridge. This amount excludes capitalized interest and other direct costs of $7.2 million. Total project costs related to the development of the storage facility were originally estimated at approximately $265 million, of which NJR is obligated to fund 50 percent or approximately $132.5 million. Should there be additional construction on the facility, for example to expand capacity, NJR would have an additional funding obligation of up to $5.7 million. As of June 30, 2010, NJR has received cash distributions of $8 million from Steckman Ridge.NJNG s capital expenditures result primarily from the need for services, mains and meters to support its continued customer growth, mandated pipeline safety rulemaking and general system improvements. NJNG s capital expenditures are expected to increase in fiscal 2010 when compared with the capital spending in fiscal 2009, due primarily to accelerated spending related to the AIP projects, which is estimated at $44.2 million. As of June 30, 2010, capital expenditures during fiscal 2010 for AIP totaled $17.9 million.
Cash flow used in financing activities totaled $39.8 million for the nine months ended June 30, 2010, compared with $223.6 million for the same period in the prior fiscal year due primarily to lower short-term borrowings at NJR and the repayment of long-term debt of $30 million and $25 million, respectively, at NJNG and NJR during fiscal 2009 that did not recur during fiscal 2010, offset by additional share repurchases and dividend payments during fiscal 2010.
NJNG received $4.9 million and $6.3 million in December 2009 and 2008, respectively, related to the natural gas meter sale and leaseback program, which is expected to be continued on an annual basis.
The VaR at June 30, 2010, using the variance-covariance method with a 95 percent confidence level and a 1-day holding period, was $342,000. The VaR with a 99 percent confidence level and a 10-day holding period was $1.5 million. The calculated VaR represents an estimate of the potential change in the value of the net positions. These estimates may not be indicative of actual results because actual market fluctuations may differ from forecasted fluctuations.
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