NewJersey Resources Corporation (NYSE:NJR) declared a quarterly dividend on Tuesday, July 11th, RTT News reports. Shareholders of record on Friday, September 22nd will be paid a dividend of 0.255 per share by the utilities provider on Monday, October 2nd. This represents a $1.02 annualized dividend and a yield of 2.57%.

NewJersey Resources Corporation has raised its dividend payment by an average of 16.9% annually over the last three years and has raised its dividend annually for the last 21 consecutive years. NewJersey Resources Corporation has a payout ratio of 59.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect NewJersey Resources Corporation to earn $1.86 per share next year, which means the company should continue to be able to cover its $1.02 annual dividend with an expected future payout ratio of 54.8%.

Shares of NewJersey Resources Corporation (NYSE NJR) traded down 0.63% on Tuesday, reaching $39.65. The company’s stock had a trading volume of 348,394 shares. The stock has a 50 day moving average of $41.68 and a 200-day moving average of $39.06. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 21.76 and a beta of 0.46. NewJersey Resources Corporation has a 12 month low of $30.46 and a 12 month high of $43.50.

NewJersey Resources Corporation (NYSE:NJR) last posted its quarterly earnings results on Friday, May 5th. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.21. NewJersey Resources Corporation had a net margin of 7.38% and a return on equity of 12.63%. The business had revenue of $733.55 million during the quarter, compared to analyst estimates of $617.10 million. During the same period in the prior year, the business posted $0.91 earnings per share. The company’s revenue was up 27.8% on a year-over-year basis. On average, analysts anticipate that NewJersey Resources Corporation will post $1.73 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “NewJersey Resources Corporation Plans Quarterly Dividend of $0.26 (NJR)” was originally posted by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another website, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this news story can be accessed at

Several analysts have issued reports on the stock. Zacks Investment Research upgraded shares of NewJersey Resources Corporation from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Tuesday. BidaskClub upgraded shares of NewJersey Resources Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 13th. Finally, Bank of America Corporation restated an “underperform” rating and set a $35.00 price target (up from $32.00) on shares of NewJersey Resources Corporation in a research report on Friday, May 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $38.80.

NewJersey Resources Corporation Company Profile

New Jersey Resources Corporation is an energy services holding company. The Company’s business is the distribution of natural gas through a regulated utility, which provides other retail and wholesale energy services to customers and investing in clean energy projects and midstream assets. It operates in four business segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services and Midstream.

Dividend History for NewJersey Resources Corporation (NYSE:NJR)

Receive News & Ratings for NewJersey Resources Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NewJersey Resources Corporation and related companies with's FREE daily email newsletter.