Brokerages Expect NewJersey Resources Corporation (NJR) to Announce $0.99 Earnings Per Share
Equities research analysts predict that NewJersey Resources Corporation (NYSE:NJR) will announce earnings of $0.99 per share for the current fiscal 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 per share of $1.20 during the same quarter last year, which would indicate a negative year over year growth rate of 17.5%. The business is expected to report its next quarterly 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 fiscal year, with EPS estimates ranging from $1.79 to $2.60. For the next financial year, analysts expect that the company will report earnings of $2.03 per share, with EPS estimates ranging from $1.92 to $2.10. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for NewJersey Resources.
NewJersey Resources (NYSE:NJR) last issued its quarterly earnings data on Thursday, February 8th. The utilities provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.97. NewJersey Resources had a return on equity of 18.96% and a net margin of 9.08%. The business had revenue of $705.31 million for the quarter, compared to the consensus estimate of $564.47 million. During the same period in the prior year, the business posted $0.47 earnings per share. The company’s quarterly revenue was up 30.4% compared to the same quarter last year.
In other 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 transaction 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 the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $43.13, for a total value of $258,780.00. Following the transaction, the director now directly owns 13,266 shares in the company, valued at approximately $572,162.58. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in NJR. BlackRock Inc. grew 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 buying an additional 157,140 shares during the last quarter. Griffin Asset Management Inc. bought a new position in shares of NewJersey Resources during the second quarter valued at approximately $4,466,000. First Trust Advisors LP grew 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 buying an additional 109,597 shares during the last quarter. WINTON GROUP Ltd grew its stake in shares of NewJersey Resources by 102.3% during the second quarter. WINTON GROUP Ltd now owns 185,985 shares of the utilities provider’s stock valued at $7,384,000 after buying an additional 94,056 shares during the last quarter. Finally, FMR LLC grew its stake in NewJersey Resources by 5.9% in the second 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 in the last quarter. 63.23% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NewJersey Resources (NYSE NJR) opened at $37.90 on Monday. NewJersey Resources has a 52-week low of $35.55 and a 52-week high of $45.45. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.83. The stock has a market capitalization of $3,319.84, a P/E ratio of 14.92, a price-to-earnings-growth 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. Stockholders of record on Thursday, March 15th will be paid a dividend of $0.2725 per share. The ex-dividend date is Wednesday, March 14th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 2.88%. NewJersey Resources’s dividend payout ratio is 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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