Shares of New Jersey Resources Co. (NYSE:NJR – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $51.00.
NJR has been the subject of a number of recent analyst reports. Guggenheim increased their price objective on New Jersey Resources from $46.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. upgraded New Jersey Resources from a “neutral” rating to an “overweight” rating and increased their target price for the company from $52.00 to $54.00 in a report on Thursday, December 12th. Wells Fargo & Company increased their target price on New Jersey Resources from $51.00 to $54.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Finally, StockNews.com lowered New Jersey Resources from a “hold” rating to a “sell” rating in a report on Friday, January 10th.
Check Out Our Latest Stock Analysis on New Jersey Resources
Insider Activity
Institutional Investors Weigh In On New Jersey Resources
Several hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in New Jersey Resources by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,956,772 shares of the utilities provider’s stock worth $126,372,000 after purchasing an additional 154,441 shares during the period. Mercer Global Advisors Inc. ADV increased its holdings in shares of New Jersey Resources by 13.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 5,478 shares of the utilities provider’s stock valued at $234,000 after purchasing an additional 659 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in New Jersey Resources by 11.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,061 shares of the utilities provider’s stock worth $430,000 after acquiring an additional 1,021 shares during the period. Blair William & Co. IL acquired a new stake in New Jersey Resources during the 2nd quarter worth $479,000. Finally, Seven Eight Capital LP acquired a new position in shares of New Jersey Resources in the 2nd quarter valued at $638,000. Institutional investors own 70.98% of the company’s stock.
New Jersey Resources Stock Performance
NYSE NJR opened at $47.34 on Thursday. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of 16.21 and a beta of 0.64. The company has a quick ratio of 0.36, a current ratio of 0.62 and a debt-to-equity ratio of 1.31. New Jersey Resources has a fifty-two week low of $39.44 and a fifty-two week high of $51.94. The business has a fifty day moving average of $47.89 and a 200-day moving average of $46.57.
New Jersey Resources (NYSE:NJR – Get Free Report) last issued its earnings results on Monday, November 25th. The utilities provider reported $0.89 earnings per share for the quarter, hitting the consensus estimate of $0.89. New Jersey Resources had a return on equity of 13.54% and a net margin of 16.13%. The company had revenue of $395.78 million during the quarter, compared to the consensus estimate of $406.97 million. During the same quarter in the prior year, the business earned $0.30 earnings per share. The company’s revenue was up 19.5% compared to the same quarter last year. As a group, analysts predict that New Jersey Resources will post 3.1 earnings per share for the current fiscal year.
New Jersey Resources Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend was Wednesday, December 11th. New Jersey Resources’s payout ratio is 61.64%.
New Jersey Resources Company Profile
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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