New Jersey Resources sees FY25 EPS $3.05-$3.20, consensus $2.88

Maintains 7 to 9 percent long-term NFEPS growth target, and after multiple years of outperformance is rebasing this target off $2.83 per share for fiscal 2025, consistent with our previously communicated guidance; Introduces fiscal 2025 NFEPS guidance range of $3.05 to $3.20, which is higher than the range implied by our long-term NFEPS growth target as a result of the one-time gain from the sale of NJR‘s residential solar portfolio; Increased fiscal 2025 dividend by 7.1 percent to $1.80 per share.