New Jersey Resources Corp (NJR) Plans Quarterly Dividend of $0.42
New Jersey Resources Corp (NYSE:NJR) declared a quarterly dividend on Wednesday, May 14th, American Banking News.com reports. Stockholders of record on Friday, June 13th will be given a dividend of 0.42 per share on Tuesday, July 1st. This represents a $1.68 dividend on an annualized basis and a yield of 3.36%.
A number of research firms have recently commented on NJR. Analysts at Ned Davis Research upgraded shares of New Jersey Resources Corp from a “neutral” rating to a “buy” rating in a research note on Monday. On a related note, analysts at Zacks upgraded shares of New Jersey Resources Corp from a “neutral” rating to an “outperform” rating in a research note on Thursday, March 27th. They now have a $50.50 price target on the stock. Finally, analysts at Barclays raised their price target on shares of New Jersey Resources Corp from $45.00 to $48.00 in a research note on Tuesday, March 25th. They now have an “underweight” rating on the stock. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. New Jersey Resources Corp has a consensus rating of “Buy” and an average price target of $50.50.
Shares of New Jersey Resources Corp (NYSE:NJR) traded up 1.30% during mid-day trading on Wednesday, hitting $50.63. 103,068 shares of the company’s stock traded hands. New Jersey Resources Corp has a 1-year low of $40.60 and a 1-year high of $50.47. The stock has a 50-day moving average of $49.04 and a 200-day moving average of $46.42. The company has a market cap of $2.133 billion and a P/E ratio of 11.06.
New Jersey Resources Corp (NYSE:NJR) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $3.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.89. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the company posted $1.64 earnings per share. The company’s revenue for the quarter was up 64.4% on a year-over-year basis. On average, analysts predict that New Jersey Resources Corp will post $4.02 earnings per share for the current fiscal year.
New Jersey Resources Corporation (NYSE:NJR) is an energy services holding company that provides retail and wholesale energy services to customers primarily in the Gulf Coast, Mid-Continent, Appalachian, Northeastern, and Western market areas of the United States, as well as Canada.
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