This Stock Screens Cheap…

A high-yield, inexpensive utility stock with inflation-beating dividend growth.

That’s the perfect description for New Jersey Resources ($NJR).

This natural gas provider has provided a steady stream of passive income for decades. And while its share price appreciation is sluggish, New Jersey Resources consistently grows its dividend by 7% (or more!) each year. Not to mention the company’s surprisingly low payout ratio that leaves plenty of room for future raises.

So if you’re interested in high-yield, high-growth dividend stocks, this article’s for you…

A Little About New Jersey Resources

New Jersey Resources Corporation is a regulated natural gas utility that serves 576,000 customers across six different New Jersey counties.

And for the unfamiliar, “regulated utilities” are government-backed monopolies. Essentially, this means that natural gas users must buy their fuel through New Jersey Resources, if they live in the company’s operating area.

This is similar to the subscription service business model.

But unlike a consumer discretionary subscription-based business, such as Netflix, regulated utilities provide essential services like gas, water, and electricity.