September 8, 2008
New Jersey Resources Ranks in the Top 10 of the Fortnightly Best Energy Companies
New Jersey Resources (NJR) has been recognized as one of the top 10 best energy companies in the annual Fortnightly 40, published by Public Utilities Fortnightly magazine. The list, in its fourth year of publication, ranks the 40 best U.S. investor-owned utilities and other companies active in the electric power and natural gas industries based on their three-year shareowner value.
"It is an honor to be ranked so highly among such a diverse group of energy companies," said Laurence M. Downes, chairman and CEO of NJR. "We are committed to providing our shareowners with consistent results year after year and our placement on the Fortnightly 40 reflects the dedication and hard work of our employees, who continue to drive our performance."NJR was ranked tenth overall on the list, which was comprised after assessing investor performance from 87 companies. Out of this sample, NJR was ranked 11th for its three-year average return on equity of 16.68 percent as well as its return on assets of 4.34 percent.
The Fortnightly 40 utilizes several common measures of financial performance including profitability, dividend yield, cash flow, return on equity and return on assets. These measures are combined with a sustainable growth rate calculation to produce an overall picture of a company's value and long-term prospects. For more information about the list, please visit www.fortnightly.com.
New Jersey Resources, a Fortune 1000 company, provides natural gas and clean energy services to customers in New Jersey and in states from the Gulf Coast to New England, and Canada. With over $3 billion in annual revenues, NJR safely and reliably delivers natural gas through more than 6,500 miles of main to nearly half a million customers; develops and manages a diverse portfolio of more than 740,000 dth/d of transportation capacity and nearly 27 Bcf of storage capacity; and provides appliance installation and service to approximately 150,000 homes and businesses. NJR has also made significant investments in the midstream asset sector through equity partnerships, including Steckman Ridge and Iroquois. Through Conserve to Preserve(R), NJR is providing customers solutions to meet their energy needs in an environmentally responsible way. For more information about NJR, visit www.njliving.com.