New Jersey Resources Corp Sets New 1-Year High at $55.73 (NJR)
New Jersey Resources Corp (NYSE:NJR) shares reached a new 52-week high during mid-day trading on Friday , Analyst Ratings Network reports. The company traded as high as $55.73 and last traded at $55.50, with a volume of 133,447 shares traded. The stock had previously closed at $55.06.
A number of analysts have recently weighed in on NJR shares. Analysts at Hilliard Lyons downgraded shares of New Jersey Resources Corp from a “buy” rating to a “neutral” rating in a research note on Monday. Separately, analysts at Brean Capital downgraded shares of New Jersey Resources Corp from a “buy” rating to a “hold” rating in a research note on Thursday, May 29th. They now have a $53.00 price target on the stock. They noted that the move was a valuation call. Finally, 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, May 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $50.50.
The stock has a 50-day moving average of $51.17 and a 200-day moving average of $47.31. The company has a market cap of $2.331 billion and a price-to-earnings ratio of 12.18.
New Jersey Resources Corp (NYSE:NJR) last posted its quarterly earnings results 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. Analysts expect that New Jersey Resources Corp will post $4.14 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Wednesday, June 11th.
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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