Wall Street brokerages forecast that New Jersey Resources Corp (NYSE:NJR) will post earnings of $0.14 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for New Jersey Resources’ earnings, with estimates ranging from $0.10 to $0.19. New Jersey Resources posted earnings per share of ($0.09) in the same quarter last year, which would suggest a positive year over year growth rate of 255.6%. The firm is scheduled to issue its next earnings results on Tuesday, August 6th.
According to Zacks, analysts expect that New Jersey Resources will report full-year earnings of $2.00 per share for the current fiscal year, with EPS estimates ranging from $1.99 to $2.02. For the next year, analysts anticipate that the business will post earnings of $2.20 per share, with EPS estimates ranging from $2.14 to $2.25. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that that provide coverage for New Jersey Resources.
New Jersey Resources (NYSE:NJR) last released its quarterly earnings results on Friday, May 3rd. The utilities provider reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.08. New Jersey Resources had a net margin of 4.51% and a return on equity of 8.73%. The business had revenue of $866.26 million for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the firm earned $1.62 earnings per share. New Jersey Resources’s revenue for the quarter was down 15.0% compared to the same quarter last year.
A number of equities analysts recently commented on the stock. Guggenheim raised shares of New Jersey Resources from a “sell” rating to a “neutral” rating in a research report on Thursday, July 11th. Zacks Investment Research lowered shares of GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a research report on Thursday, July 4th.
In related news, Director David A. Trice sold 12,000 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $49.74, for a total transaction of $596,880.00. Following the transaction, the director now directly owns 11,585 shares of the company’s stock, valued at $576,237.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. 6 Meridian increased its holdings in New Jersey Resources by 2.1% in the 2nd quarter. 6 Meridian now owns 10,565 shares of the utilities provider’s stock valued at $526,000 after buying an additional 218 shares during the period. Arizona State Retirement System increased its holdings in New Jersey Resources by 0.3% in the 1st quarter. Arizona State Retirement System now owns 63,744 shares of the utilities provider’s stock valued at $3,174,000 after buying an additional 221 shares during the period. Advisory Services Network LLC increased its holdings in New Jersey Resources by 1.5% in the 1st quarter. Advisory Services Network LLC now owns 19,101 shares of the utilities provider’s stock valued at $951,000 after buying an additional 289 shares during the period. Louisiana State Employees Retirement System increased its holdings in New Jersey Resources by 1.3% in the 1st quarter. Louisiana State Employees Retirement System now owns 23,800 shares of the utilities provider’s stock valued at $1,185,000 after buying an additional 300 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its holdings in New Jersey Resources by 2.8% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 13,173 shares of the utilities provider’s stock valued at $655,000 after buying an additional 360 shares during the period. 66.11% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:NJR traded down $0.52 during mid-day trading on Friday, reaching $49.84. 276,667 shares of the company’s stock were exchanged, compared to its average volume of 328,760. New Jersey Resources has a one year low of $43.51 and a one year high of $51.83. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 3.56 and a beta of 0.37. The business’s fifty day moving average is $49.55. The company has a quick ratio of 0.91, a current ratio of 1.04 and a debt-to-equity ratio of 0.75.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 20th will be given a dividend of $0.292 per share. This represents a $1.17 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Thursday, September 19th. New Jersey Resources’s dividend payout ratio is 42.70%.
About New Jersey Resources
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for New Jersey Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Jersey Resources and related companies with MarketBeat.com's FREE daily email newsletter.