Newjersey Resources Corporation · NYSE:NJR
Newjersey Resources — Corporate Update (March 2014)
13 slides from Newjersey Resources's corporate update, Mar 12, 2014
Slide 1: Increased Fiscal 2014 NFE Guidance and Long-Term Financial Goals
Increased Fiscal 2014 NFE Guidance and Long-Term Financial Goals March 12, 2014 Exhibit 99.2
Slide 2: NJR Fiscal 2014 NFE Per Share Guidance
3 NJR Fiscal 2014 NFE Per Share Guidance Increased to $3.90-$4.10 from $2.75-$2.95 NJR Energy Services (NJRES) profits grew significantly due to extreme cold weather across the nation resulting in increased demand for physical gas services NJR’s increased earnings retention further strengthens its f
Slide 3: NJR Business Segment NFEPS Contributions; Updated Fiscal 2014 Guidance
4 NJR Business Segment NFEPS Contributions; Updated Fiscal 2014 Guidance - $3.90-$4.10 NJR expects NJRES to Contribute 35-40% of Fiscal 2014 Earnings New Jersey Natural Gas NJR Clean Energy Ventures NJR Energy Services NJR Midstream NJR Home Services Previous Fiscal 2014 5-15% 10-20% 60-70% 5-10% -5
Slide 4: NJR Energy Services
5 NJR Energy Services Provides physical natural gas services for customers across North America including the Marcellus Shale Customers: Utilities, Power Generators, Pipelines and Industrials NJRES’ Asset Portfolio includes : Storage capacity - 40 Bcf in the United States and Canada Pipeline transpo
Slide 5: Severe Weather Drives NJRES Performance
6 Severe Weather Drives NJRES Performance
Slide 6: NJRES Assets Support Long-Option Strategy
7 NJRES Assets Support Long-Option Strategy Firm Storages Firm Transports Producer Service Area
Slide 7: Long-Term Benefits of Increased Earnings
8 Long-Term Benefits of Increased Earnings Earnings retention further strengthens balance sheet and avoids potential new equity issuance Supports our future capital expenditures from fiscal 2014 to 2017 NJNG - $726 million NJR Clean Energy Ventures - $260 million Additional flexibility to utilize Sh
Slide 8: NJNG Capital Investment Estimates
9 NJNG Capital Investment Estimates Capital of Over $1 Billion Drives Long-Term Growth NJNG Expects Base Rate Case Resolution by Fiscal 2017 ($mm) 2009- 2012 Actual 2013A 2014E 2015E 2016E 2017E Total Customer Growth $79.4 $24.5 $24.7 $25.6 $25.5 $25.5 $205.2 Maintenance/Other 177.4 42.5 63.3 55.9 4
Slide 9: Revised Long-Term NFEPS Guidance
10 Revised Long-Term NFEPS Guidance 5–9 percent average annual growth 4-7 percent average annual growth $1.00 $1.50 $2.00 $2.50 $3.00 $3.50 $4.00 $4.50 2009 2010 2011 2012 2013 2014E 2015E 2016E 2017E $2.40 $2.46 $2.58 $2.71 $2.73 $3.90 -$4.10 $3.28-$3.71 Previous New
Slide 10: Dividend Outlook Strengthened
11 11 Payout ratio goal remains unchanged at 60 to 65 percent Dividend Outlook Strengthened * Current annual rate ** Assumes 6-8 percent average annual dividend growth $0.00 $0.25 $0.50 $0.75 $1.00 $1.25 $1.50 $1.75 $2.00 $2.25 2009 2010 2011 2012 2013 2014* 2017E** $1.24 $1.36 $1.44 $1.54 $1.62 $1.
Slide 11: NJR Expects Contributions to Return to 5-15 Percent of Total NFE Post-Fiscal 2014
12 35-40% 45-50% 60-70% 5-15% NJR expects Contributions to Return to 5-15 percent of Total NFE Post-Fiscal 2014 Regulated businesses expected to contribute 65-80 percent of total NFE New Jersey Natural Gas NJR Clean Energy Ventures NJR Energy Services NJR Midstream NJR Home Services Current Fiscal 2
Slide 12: Summary
13 Summary NJRES’ results validate our business strategy and consistent focus on providing physical natural gas services to customers Improved long-term NFEPS and dividend growth rates driven by this year’s performance Assuming normal weather, NJR expects NJRES to resume its historic 5 to 15 percent
Slide 13: Increased Fiscal 2014 NFE Guidance and Long-Term Financial Goals
Increased Fiscal 2014 NFE Guidance and Long-Term Financial Goals March 12, 2014