NewJersey Resources Corporation (NJR) Expected to Announce Earnings of $0.59 Per Share
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.
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%.
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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.
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