Wall Street analysts expect NewJersey Resources Corporation (NYSE:NJR) to post earnings per share of $0.99 for the current quarter, according to Zacks. Two analysts have issued estimates for NewJersey Resources’ earnings, with the highest EPS estimate coming in at $1.04 and the lowest estimate coming in at $0.90. NewJersey Resources posted earnings of $1.20 per share in the same quarter last year, which suggests a negative year over year growth rate of 17.5%. The firm is expected to announce its next earnings report on Friday, May 4th.
According to Zacks, analysts expect that NewJersey Resources will report full-year earnings of $2.01 per share for the current financial year, with EPS estimates ranging from $1.79 to $2.60. For the next financial year, analysts expect that the company will post earnings of $2.03 per share, with EPS estimates ranging from $1.92 to $2.10. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow NewJersey Resources.
NewJersey Resources (NYSE:NJR) last issued its quarterly earnings results on Thursday, February 8th. The utilities provider reported $1.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.97. NewJersey Resources had a return on equity of 18.96% and a net margin of 9.08%. The company had revenue of $705.31 million for the quarter, compared to analysts’ expectations of $564.47 million. During the same quarter last year, the business earned $0.47 earnings per share. NewJersey Resources’s revenue was up 30.4% on a year-over-year basis.
In other NewJersey Resources news, VP Amanda Mullan sold 920 shares of NewJersey Resources stock in a transaction dated 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 legal filing with the SEC, which is accessible through this link. Also, Director Lawrence R. Codey sold 6,000 shares of NewJersey Resources stock in a transaction dated Tuesday, November 28th. The shares were 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 in the company, valued at approximately $572,162.58. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of NewJersey Resources by 1.4% during the fourth quarter. BlackRock Inc. now owns 11,659,855 shares of the utilities provider’s stock valued at $468,727,000 after purchasing an additional 157,140 shares in the last quarter. FMR LLC boosted its stake in shares of NewJersey Resources by 5.9% during the second quarter. FMR LLC now owns 1,347,550 shares of the utilities provider’s stock valued at $53,497,000 after purchasing an additional 75,667 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of NewJersey Resources by 3.8% during the third quarter. Ameriprise Financial Inc. now owns 1,294,986 shares of the utilities provider’s stock valued at $54,588,000 after purchasing an additional 47,748 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of NewJersey Resources by 3.1% during the third quarter. Bank of New York Mellon Corp now owns 1,272,665 shares of the utilities provider’s stock valued at $53,642,000 after purchasing an additional 38,004 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of NewJersey Resources by 21.8% during the fourth quarter. First Trust Advisors LP now owns 613,451 shares of the utilities provider’s stock valued at $24,661,000 after purchasing an additional 109,597 shares in the last quarter. 63.23% of the stock is currently owned by hedge funds and other institutional investors.
NewJersey Resources (NYSE NJR) opened at $37.90 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.83 and a quick ratio of 0.62. NewJersey Resources has a 12-month low of $35.55 and a 12-month high of $45.45. The company has a market capitalization of $3,319.84, a price-to-earnings ratio of 14.92, a P/E/G ratio of 2.43 and a beta of 0.33.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be given a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Wednesday, March 14th. NewJersey Resources’s dividend payout ratio is presently 42.91%.
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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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