New Jersey Resources Corp. (NYSE:NJR) Q4 2019 Earnings Conference Call - Final Transcript
Nov 19, 2019 • 10:00 am ET
assuming there will be no contribution from Adelphia and a minimal AFUDC contribution for PennEast, nearly identical to that of 2019. We expect our unregulated businesses to contribute between 25% and 42% of total NFE. Energy services is expected to return to its normal 5% to 50% [Phonetic] contribution which will provide about $0.10 per share uplift in fiscal 2020. We expect CEV to contribute 20% to 25% of total NFE. This will be a reduction compared to 2019 due to lower ITCs, partially offsetting the NFE improvements we are seeing in the other segments.
With that, I will turn it over to Steve for his closing remarks.
Stephen D. Westhoven
Thanks Pat. We expect NJR to continue delivering long term value for its shareholders, anchored by our regulated utility and the infrastructure investment opportunities provided by our other business segments. To summarize, we offer investors an attractive 8% to 11% expected total return based on our dividend yield of 2% to 3% and our long term NFEPS growth of 6% to 8%. We appreciate that you took the time today to join us and I would like to recognize and thank our employees for all their hard work and dedication that drives our performance.
I would like now to open he call for questions.