NJR - New Jersey Resources: Latest Results Show More Stability Than You Might Think

• At first glance, New Jersey Resources' results appear to throw doubt on the fact that utilities tend to be relatively stable entities.
• We may be seeing some of the impact of the pandemic here as many people are still unemployed and unable to pay their utility bills.
• Overall, profits were up somewhat and profits matter more than revenues do.
• The company is going to continue to improve its infrastructure, which should provide it with steady growth going forward.
• New Jersey Resources failed to generate enough cash to cover its dividend, so we need to keep an eye on this.

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