NewJersey Resources Corporation (NYSE:NJR) Plans Quarterly Dividend of $0.48

NewJersey Resources Corporation (NYSE:NJR) announced a quarterly dividend on Wednesday, January 21st. Stockholders of record on Wednesday, March 11th will be paid a dividend of 0.475 per share by the utilities provider on Wednesday, April 1st. This represents a c) dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Wednesday, March 11th.

NewJersey Resources has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 29 consecutive years. NewJersey Resources has a dividend payout ratio of 60.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect NewJersey Resources to earn $3.12 per share next year, which means the company should continue to be able to cover its $1.90 annual dividend with an expected future payout ratio of 60.9%.

NewJersey Resources Stock Performance

NewJersey Resources stock opened at $47.99 on Thursday. The stock has a 50-day simple moving average of $46.66 and a 200 day simple moving average of $46.49. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 14.41 and a beta of 0.60. The company has a quick ratio of 0.40, a current ratio of 0.73 and a debt-to-equity ratio of 1.36. NewJersey Resources has a 12-month low of $43.46 and a 12-month high of $50.76.

NewJersey Resources (NYSE:NJR) last released its quarterly earnings results on Wednesday, November 19th. The utilities provider reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. The business had revenue of $336.08 million for the quarter, compared to analysts’ expectations of $307.30 million. NewJersey Resources had a net margin of 16.48% and a return on equity of 13.73%. NewJersey Resources’s revenue was down 15.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.030-3.180 EPS. On average, research analysts anticipate that NewJersey Resources will post 3.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NJR has been the subject of several analyst reports. Raymond James Financial reiterated an “outperform” rating and set a $53.00 price target on shares of NewJersey Resources in a research report on Thursday, November 20th. New Street Research set a $54.00 price target on shares of NewJersey Resources in a research report on Wednesday, December 17th. Mizuho raised NewJersey Resources from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $51.00 to $54.00 in a research note on Wednesday, December 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of NewJersey Resources in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded NewJersey Resources from a “hold” rating to a “sell” rating in a research note on Sunday, December 28th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $52.86.

NewJersey Resources Company Profile

New Jersey Resources Corporation is a publicly traded energy services holding company headquartered in Wall Township, New Jersey. The firm’s primary focus is on the safe and reliable distribution of natural gas, along with complementary energy services and renewable energy investments. Its operations center on delivering cost-effective solutions to residential, commercial and industrial customers throughout the state.

The company’s principal subsidiary, New Jersey Natural Gas, owns and operates an extensive pipeline network that spans northern, central and southern New Jersey.