New Jersey Resources Co. Plans Quarterly Dividend of $0.42 (NYSE:NJR)

New Jersey Resources Co. (NYSE:NJRGet Free Report) declared a quarterly dividend on Thursday, April 18th, Zacks reports. Stockholders of record on Wednesday, June 12th will be paid a dividend of 0.42 per share by the utilities provider on Monday, July 1st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend is Wednesday, June 12th.

New Jersey Resources has increased its dividend by an average of 7.9% per year over the last three years. New Jersey Resources has a dividend payout ratio of 59.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect New Jersey Resources to earn $2.88 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 58.3%.

New Jersey Resources Price Performance

NJR opened at $43.45 on Tuesday. The company has a fifty day simple moving average of $43.34 and a 200 day simple moving average of $42.93. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 17.17 and a beta of 0.61. New Jersey Resources has a twelve month low of $38.92 and a twelve month high of $49.73. The company has a current ratio of 0.70, a quick ratio of 0.56 and a debt-to-equity ratio of 1.25.

New Jersey Resources (NYSE:NJRGet Free Report) last released its quarterly earnings results on Tuesday, May 7th. The utilities provider reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.08. The business had revenue of $657.91 million during the quarter, compared to analyst estimates of $669.64 million. New Jersey Resources had a net margin of 14.46% and a return on equity of 12.16%. Equities research analysts expect that New Jersey Resources will post 2.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of New Jersey Resources from a “sell” rating to a “hold” rating in a report on Thursday, May 16th.

Get Our Latest Analysis on NJR

Insider Transactions at New Jersey Resources

In other news, CEO Stephen D. Westhoven sold 20,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $42.82, for a total value of $856,400.00. Following the transaction, the chief executive officer now directly owns 198,705 shares in the company, valued at approximately $8,508,548.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.75% of the company’s stock.

About New Jersey Resources

(Get Free Report)

New Jersey Resources Corporation, an energy services holding company, distributes natural gas. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Storage and Transportation. The Natural Gas Distribution segment offers regulated natural gas utility services to approximately 576,000 customers in Burlington, Middlesex, Monmouth, Morris, Ocean, and Sussex counties in New Jersey; provides capacity and storage management services; and participates in the off-system sales and capacity release markets.

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Dividend History for New Jersey Resources (NYSE:NJR)

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