New Jersey Resources Corp (NYSE:NJR) has been given an average recommendation of “Hold” by the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $48.00.
Several equities research analysts recently issued reports on NJR shares. Guggenheim downgraded New Jersey Resources from a “neutral” rating to a “sell” rating in a research note on Monday, January 7th. They noted that the move was a valuation call. Zacks Investment Research raised New Jersey Resources from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Friday, November 23rd.
Get New Jersey Resources alerts:In other news, Director M William Howard, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 27th. The stock was sold at an average price of $47.91, for a total transaction of $47,910.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 3,000 shares of company stock valued at $138,080 over the last ninety days. Company insiders own 1.30% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of NJR. Oregon Public Employees Retirement Fund raised its stake in shares of New Jersey Resources by 4,467.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,577,259 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 1,542,723 shares in the last quarter. Doyle Wealth Management purchased a new stake in shares of New Jersey Resources during the 4th quarter worth about $145,000. Tower Research Capital LLC TRC raised its stake in shares of New Jersey Resources by 286.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,780 shares of the utilities provider’s stock worth $174,000 after purchasing an additional 2,801 shares in the last quarter. Bruderman Asset Management LLC raised its stake in shares of New Jersey Resources by 55.5% during the 4th quarter. Bruderman Asset Management LLC now owns 4,861 shares of the utilities provider’s stock worth $222,000 after purchasing an additional 1,735 shares in the last quarter. Finally, Gotham Asset Management LLC purchased a new stake in shares of New Jersey Resources during the 4th quarter worth about $224,000. 67.72% of the stock is owned by institutional investors.
New Jersey Resources stock traded up $0.39 during mid-day trading on Tuesday, hitting $46.73. The company’s stock had a trading volume of 539,320 shares, compared to its average volume of 524,547. The company has a market cap of $4.15 billion, a P/E ratio of 17.05, a P/E/G ratio of 3.29 and a beta of 0.32. The company has a current ratio of 1.05, a quick ratio of 0.79 and a debt-to-equity ratio of 0.79. New Jersey Resources has a 52-week low of $37.65 and a 52-week high of $51.83.
New Jersey Resources (NYSE:NJR) last announced its quarterly earnings data on Wednesday, February 6th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.08). The business had revenue of $811.77 million during the quarter, compared to analysts’ expectations of $712.00 million. New Jersey Resources had a return on equity of 10.92% and a net margin of 6.49%. The firm’s revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.56 earnings per share. On average, equities analysts forecast that New Jersey Resources will post 2.01 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be paid a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Thursday, March 14th. New Jersey Resources’s dividend payout ratio (DPR) is presently 42.70%.
New Jersey Resources Company Profile
New Jersey Resources Corporation, an energy services holding company, provides regulated gas distribution, and retail and wholesale energy services. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Midstream segments. The Natural Gas Distribution segment offers regulated retail natural gas services to approximately 538,700 residential and commercial customers in central and northern New Jersey; provides storage management services; and participates in the off-system sales and capacity release markets.
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