NewJersey Resources Corporation (NYSE:NJR) VP Amanda Mullan sold 920 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $44.64, for a total value of $41,068.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Shares of NewJersey Resources Corporation (NJR) traded down $1.00 on Tuesday, hitting $43.30. The stock had a trading volume of 605,957 shares, compared to its average volume of 426,792. The company has a quick ratio of 0.46, a current ratio of 0.72 and a debt-to-equity ratio of 0.81. NewJersey Resources Corporation has a twelve month low of $33.70 and a twelve month high of $45.45. The firm has a market capitalization of $3,850.00, a price-to-earnings ratio of 25.78, a PEG ratio of 4.05 and a beta of 0.42.

NewJersey Resources (NYSE:NJR) last issued its quarterly earnings results on Tuesday, November 21st. The utilities provider reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). NewJersey Resources had a net margin of 5.82% and a return on equity of 11.97%. The firm had revenue of $536.50 million for the quarter, compared to analyst estimates of $480.90 million. During the same period last year, the company earned ($0.03) EPS. The company’s revenue was up 14.3% compared to the same quarter last year. equities analysts predict that NewJersey Resources Corporation will post 1.83 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be paid a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Thursday, December 14th. This is a positive change from NewJersey Resources’s previous quarterly dividend of $0.26. NewJersey Resources’s dividend payout ratio is 72.19%.

A number of equities analysts have commented on NJR shares. Bank of America boosted their price objective on NewJersey Resources from $35.00 to $38.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 23rd. ValuEngine lowered NewJersey Resources from a “buy” rating to a “hold” rating in a research note on Friday. Zacks Investment Research lowered NewJersey Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Argus upped their price target on NewJersey Resources from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Monday, August 28th. Finally, BidaskClub raised NewJersey Resources from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $42.00.

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA increased its holdings in NewJersey Resources by 92.8% in the second quarter. BNP Paribas Arbitrage SA now owns 46,956 shares of the utilities provider’s stock valued at $1,864,000 after purchasing an additional 22,600 shares during the last quarter. TD Asset Management Inc. increased its holdings in NewJersey Resources by 0.5% in the second quarter. TD Asset Management Inc. now owns 19,024 shares of the utilities provider’s stock valued at $755,000 after purchasing an additional 100 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in NewJersey Resources by 2.8% in the second quarter. JPMorgan Chase & Co. now owns 370,444 shares of the utilities provider’s stock valued at $14,706,000 after purchasing an additional 9,965 shares during the last quarter. Vanguard Group Inc. increased its holdings in NewJersey Resources by 1.2% in the second quarter. Vanguard Group Inc. now owns 8,361,117 shares of the utilities provider’s stock valued at $331,937,000 after purchasing an additional 99,093 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in NewJersey Resources by 92.2% in the second quarter. SG Americas Securities LLC now owns 49,121 shares of the utilities provider’s stock valued at $1,950,000 after purchasing an additional 23,565 shares during the last quarter. 63.60% of the stock is currently owned by institutional investors and hedge funds.

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NewJersey Resources 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.

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