NJR - New Jersey Resources Adjusts To Meet Its Challenges And Opportunities
Under new CEO Steve Westhoven, the business portfolio of New Jersey Resources (NJR) has evolved as it typically does in response to changes in its operating environment. Its regulated utility operations, New Jersey Natural Gas (NJNG) and its Midstream segment, are increasing their contribution to NJR’s total earnings through expanded investment. NJNG is benefiting from continued infrastructure investment and modest customer growth. The Midstream segment is growing through acquisitions, including the pending acquisitions of Leaf River Energy Center and the Adelphia Gateway. Growth in the regulated operations is replacing expected declining profits from