Equities analysts predict that NewJersey Resources Corporation (NYSE:NJR) will report sales of $570.70 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for NewJersey Resources’ earnings, with the lowest sales estimate coming in at $556.00 million and the highest estimate coming in at $585.40 million. NewJersey Resources reported sales of $541.03 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.5%. The firm is expected to announce its next quarterly earnings results before the market opens on Thursday, February 8th.
According to Zacks, analysts expect that NewJersey Resources will report full year sales of $570.70 million for the current fiscal year, with estimates ranging from $1.94 billion to $2.45 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.31 billion per share, with estimates ranging from $2.00 billion to $2.52 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow NewJersey Resources.
NewJersey Resources (NYSE:NJR) last announced its quarterly earnings data on Tuesday, November 21st. The utilities provider reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.01). The company had revenue of $536.50 million for the quarter, compared to the consensus estimate of $480.90 million. NewJersey Resources had a net margin of 5.82% and a return on equity of 11.97%. The company’s revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.03) earnings per share.
In other NewJersey Resources news, VP Amanda Mullan sold 920 shares of the company’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lawrence R. Codey sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $43.13, for a total value of $258,780.00. Following the completion of the transaction, the director now owns 13,266 shares of the company’s stock, valued at $572,162.58. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in NewJersey Resources by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 8,361,117 shares of the utilities provider’s stock worth $331,937,000 after purchasing an additional 99,093 shares during the period. Northern Trust Corp boosted its stake in NewJersey Resources by 1.6% in the 2nd quarter. Northern Trust Corp now owns 1,367,432 shares of the utilities provider’s stock worth $54,287,000 after purchasing an additional 21,435 shares during the period. FMR LLC boosted its stake in NewJersey Resources by 5.9% in the 2nd quarter. FMR LLC now owns 1,347,550 shares of the utilities provider’s stock worth $53,497,000 after purchasing an additional 75,667 shares during the period. Ameriprise Financial Inc. boosted its stake in NewJersey Resources by 3.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,294,986 shares of the utilities provider’s stock worth $54,588,000 after purchasing an additional 47,748 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in NewJersey Resources by 3.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,272,665 shares of the utilities provider’s stock worth $53,642,000 after purchasing an additional 38,004 shares during the period. Institutional investors and hedge funds own 63.51% of the company’s stock.
NewJersey Resources (NYSE NJR) opened at $39.50 on Friday. The stock has a market capitalization of $3,480.80, a P/E ratio of 25.99, a P/E/G ratio of 3.69 and a beta of 0.43. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.46 and a current ratio of 0.72. NewJersey Resources has a 52 week low of $36.40 and a 52 week high of $45.45.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be paid a $0.2725 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $1.09 annualized dividend and a yield of 2.76%. NewJersey Resources’s payout ratio is 71.71%.
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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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