Shares of New Jersey Resources Corp (NYSE:NJR) have been given an average rating of “Hold” by the seven analysts that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $34.67.
Several research firms have recently weighed in on NJR. Bank of America increased their price objective on New Jersey Resources from $28.00 to $29.00 and gave the company an “underperform” rating in a research report on Monday, August 10th. Zacks Investment Research raised New Jersey Resources from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 20th. Mizuho started coverage on New Jersey Resources in a research report on Thursday, July 23rd. They issued a “buy” rating and a $37.00 target price for the company. Finally, ValuEngine cut New Jersey Resources from a “hold” rating to a “sell” rating in a research report on Wednesday.
NJR opened at $28.00 on Friday. New Jersey Resources has a 1-year low of $21.14 and a 1-year high of $45.79. The company has a current ratio of 0.58, a quick ratio of 0.42 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 2.28 and a beta of 0.32. The business has a 50 day moving average of $30.94 and a 200-day moving average of $32.49.
New Jersey Resources (NYSE:NJR) last posted its quarterly earnings data on Friday, August 7th. The utilities provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.10). New Jersey Resources had a net margin of 8.30% and a return on equity of 9.43%. The business had revenue of $299.00 million during the quarter, compared to the consensus estimate of $447.88 million. During the same period in the prior year, the company posted ($0.20) earnings per share. The firm’s revenue was down 31.3% compared to the same quarter last year. Equities analysts predict that New Jersey Resources will post 2.07 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 22nd will be paid a dividend of $0.313 per share. The ex-dividend date is Monday, September 21st. This represents a $1.25 annualized dividend and a yield of 4.47%. New Jersey Resources’s dividend payout ratio is currently 64.10%.
Several large investors have recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in shares of New Jersey Resources by 2.0% in the second quarter. Principal Financial Group Inc. now owns 296,947 shares of the utilities provider’s stock valued at $9,695,000 after buying an additional 5,904 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of New Jersey Resources by 1.7% in the second quarter. PNC Financial Services Group Inc. now owns 58,778 shares of the utilities provider’s stock valued at $1,920,000 after buying an additional 997 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of New Jersey Resources by 1,059.0% in the second quarter. AQR Capital Management LLC now owns 108,417 shares of the utilities provider’s stock valued at $3,470,000 after buying an additional 99,063 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in shares of New Jersey Resources by 1.3% in the second quarter. Great West Life Assurance Co. Can now owns 92,576 shares of the utilities provider’s stock valued at $3,012,000 after buying an additional 1,160 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of New Jersey Resources in the second quarter valued at $271,000. Institutional investors own 70.34% of the company’s stock.
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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