Shares of New Jersey Resources Corp. (NYSE:NJR) have received an average recommendation of “Hold” from the seven research firms that are covering the company. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $37.75.

NJR has been the topic of several recent research reports. TheStreet lowered shares of New Jersey Resources Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 31st. Zacks Investment Research lowered shares of New Jersey Resources Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, June 1st. Argus reiterated a “buy” rating and issued a $42.00 price objective on shares of New Jersey Resources Corp. in a research report on Friday, September 16th. Finally, Wells Fargo & Co. initiated coverage on shares of New Jersey Resources Corp. in a research report on Wednesday, June 1st. They issued a “market perform” rating on the stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp increased its position in shares of New Jersey Resources Corp. by 190.0% in the first quarter. State Street Corp now owns 5,162,071 shares of the company’s stock valued at $188,055,000 after buying an additional 3,381,888 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of New Jersey Resources Corp. by 8,589.4% in the first quarter. Nuveen Asset Management LLC now owns 528,664 shares of the company’s stock valued at $19,259,000 after buying an additional 522,580 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of New Jersey Resources Corp. by 24.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,569,121 shares of the company’s stock valued at $93,593,000 after buying an additional 505,468 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of New Jersey Resources Corp. during the second quarter valued at $19,275,000. Finally, BlackRock Fund Advisors increased its position in shares of New Jersey Resources Corp. by 5.0% in the second quarter. BlackRock Fund Advisors now owns 6,675,546 shares of the company’s stock valued at $257,342,000 after buying an additional 319,788 shares during the last quarter. 60.28% of the stock is owned by hedge funds and other institutional investors.

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Shares of New Jersey Resources Corp. (NYSE:NJR) traded down 0.13% on Wednesday, reaching $33.72. 119,285 shares of the company’s stock traded hands. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 26.28 and a beta of 0.56. The stock’s 50-day moving average price is $34.29 and its 200-day moving average price is $35.77. New Jersey Resources Corp. has a 52 week low of $27.71 and a 52 week high of $38.92.

New Jersey Resources Corp. (NYSE:NJR) last issued its earnings results on Tuesday, August 2nd. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by $0.01. The company had revenue of $393.21 million for the quarter, compared to analysts’ expectations of $425.99 million. New Jersey Resources Corp. had a return on equity of 11.43% and a net margin of 5.88%. New Jersey Resources Corp.’s revenue for the quarter was down 14.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 earnings per share. Equities analysts predict that New Jersey Resources Corp. will post $1.62 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 23rd will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.82%. The ex-dividend date is Wednesday, September 21st. New Jersey Resources Corp.’s payout ratio is 76.80%.

About New Jersey Resources Corp.

New Jersey Resources Corporation (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. The Company operates within four reportable business segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services and Midstream (formerly Energy Holdings).

5 Day Chart for NYSE:NJR

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