NewJersey Resources Corporation (NYSE:NJR) has been given an average rating of “Buy” by the eight brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, two have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $41.00.
Several research firms have issued reports on NJR. ValuEngine downgraded NewJersey Resources from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Janney Montgomery Scott upgraded NewJersey Resources from a “neutral” rating to a “buy” rating in a report on Wednesday, November 22nd. Zacks Investment Research upgraded NewJersey Resources from a “sell” rating to a “hold” rating in a report on Saturday, November 18th. Argus boosted their price objective on NewJersey Resources from $46.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, August 28th. Finally, BidaskClub upgraded NewJersey Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th.
In other news, Director Lawrence R. Codey sold 6,000 shares of the company’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $43.13, for a total value of $258,780.00. Following the transaction, the director now owns 13,266 shares in the company, valued at approximately $572,162.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Amanda Mullan sold 920 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $44.64, for a total value of $41,068.80. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.
Shares of NewJersey Resources (NYSE:NJR) traded down $0.35 during midday trading on Thursday, reaching $41.75. 496,600 shares of the company’s stock were exchanged, compared to its average volume of 425,013. NewJersey Resources has a 52 week low of $33.70 and a 52 week high of $45.45. The company has a quick ratio of 0.46, a current ratio of 0.72 and a debt-to-equity ratio of 0.81. The firm has a market cap of $3,560.00, a P/E ratio of 24.48, a price-to-earnings-growth ratio of 3.88 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 for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.01). The business had revenue of $536.50 million during 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%. NewJersey Resources’s revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.03) earnings per share. sell-side analysts anticipate that NewJersey Resources will post 1.81 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be issued a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Thursday, December 14th. This is an increase from NewJersey Resources’s previous quarterly dividend of $0.26. NewJersey Resources’s payout ratio is presently 72.19%.
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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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