Wall Street analysts expect NewJersey Resources Corporation (NYSE:NJR) to announce earnings per share (EPS) of $0.59 for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for NewJersey Resources’ earnings, with estimates ranging from $0.58 to $0.60. NewJersey Resources posted earnings of $0.46 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 28.3%. The business is scheduled to announce its next quarterly earnings results on Wednesday, February 14th.

According to Zacks, analysts expect that NewJersey Resources will report full year earnings of $1.84 per share for the current year, with EPS estimates ranging from $1.80 to $1.89. For the next fiscal year, analysts expect that the company will post earnings of $1.99 per share, with EPS estimates ranging from $1.92 to $2.07. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for NewJersey Resources.

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

NJR has been the subject of a number of research reports. Bank of America lifted their target price on shares of NewJersey Resources from $35.00 to $38.00 and gave the company an “underperform” rating in a research note on Wednesday, August 23rd. BidaskClub raised shares of NewJersey Resources from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 26th. Argus lifted their target price on shares of NewJersey Resources from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Monday, August 28th. Zacks Investment Research downgraded shares of NewJersey Resources from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Finally, Janney Montgomery Scott upgraded shares of NewJersey Resources from a “neutral” rating to a “buy” rating in a report on Wednesday, November 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $42.00.

In related news, VP Amanda Mullan sold 920 shares of NewJersey Resources stock in a transaction on Monday, December 4th. The shares were sold at an average price of $44.64, for a total value of $41,068.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lawrence R. Codey sold 6,000 shares of NewJersey Resources stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $43.13, for a total transaction of $258,780.00. Following the completion of the transaction, the director now owns 13,266 shares in the company, valued at approximately $572,162.58. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC bought a new position in NewJersey Resources in the 3rd quarter worth $429,000. GSA Capital Partners LLP bought a new position in shares of NewJersey Resources during the 3rd quarter worth about $204,000. Americafirst Capital Management LLC bought a new position in shares of NewJersey Resources during the 3rd quarter worth about $443,000. California Public Employees Retirement System increased its holdings in shares of NewJersey Resources by 15.1% during the 3rd quarter. California Public Employees Retirement System now owns 144,731 shares of the utilities provider’s stock worth $6,100,000 after purchasing an additional 19,031 shares during the period. Finally, Janney Montgomery Scott LLC increased its holdings in shares of NewJersey Resources by 4.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 58,800 shares of the utilities provider’s stock worth $2,478,000 after purchasing an additional 2,561 shares during the period. Hedge funds and other institutional investors own 63.60% of the company’s stock.

Shares of NewJersey Resources (NYSE:NJR) opened at $43.30 on Wednesday. The stock has a market cap of $3,850.00, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 4.05 and a beta of 0.42. NewJersey Resources has a 52 week low of $33.70 and a 52 week high of $45.45. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.46 and a current ratio of 0.72.

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

ILLEGAL ACTIVITY NOTICE: This report was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this report on another domain, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/12/06/newjersey-resources-corporation-njr-expected-to-announce-earnings-of-0-59-per-share.html.

About NewJersey Resources

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.

Get a free copy of the Zacks research report on NewJersey Resources (NJR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for NewJersey Resources (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 MarketBeat.com's FREE daily email newsletter.