New Jersey Resources Corp (NJR) Expected to Post Earnings of $0.69 Per Share
Wall Street brokerages expect New Jersey Resources Corp (NYSE:NJR) to announce $0.69 earnings per share for the current quarter, according to Zacks. Two analysts have provided estimates for New Jersey Resources’ earnings, with the lowest EPS estimate coming in at $0.66 and the highest estimate coming in at $0.72. New Jersey Resources posted earnings of $1.56 per share during the same quarter last year, which suggests a negative year over year growth rate of 55.8%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Wednesday, February 6th.
On average, analysts expect that New Jersey Resources will report full year earnings of $2.04 per share for the current year, with EPS estimates ranging from $2.00 to $2.13. For the next financial year, analysts expect that the firm will report earnings of $2.16 per share, with EPS estimates ranging from $2.12 to $2.21. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow New Jersey Resources.
New Jersey Resources (NYSE:NJR) last released its earnings results on Wednesday, February 6th. The utilities provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.08). New Jersey Resources had a return on equity of 16.92% and a net margin of 8.01%. The firm had revenue of $811.77 million for the quarter, compared to the consensus estimate of $712.00 million. During the same period in the prior year, the business earned $1.56 EPS. The company’s quarterly revenue was up 15.1% on a year-over-year basis.
In other news, Director M William Howard, Jr. sold 1,000 shares of the stock in a transaction that occurred on Wednesday, January 9th. The stock was sold at an average price of $45.54, for a total transaction of $45,540.00. Following the sale, the director now directly owns 14,060 shares in the company, valued at approximately $640,292.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 3,000 shares of company stock worth $138,080 over the last quarter. Insiders own 1.30% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of NJR. California Public Employees Retirement System increased its position in New Jersey Resources by 3.6% in the 2nd quarter. California Public Employees Retirement System now owns 139,477 shares of the utilities provider’s stock valued at $6,242,000 after acquiring an additional 4,792 shares during the period. Public Employees Retirement System of Ohio increased its position in New Jersey Resources by 354.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 17,920 shares of the utilities provider’s stock valued at $802,000 after acquiring an additional 13,975 shares during the period. Northern Trust Corp increased its position in New Jersey Resources by 1.9% in the 2nd quarter. Northern Trust Corp now owns 1,327,875 shares of the utilities provider’s stock valued at $59,421,000 after acquiring an additional 25,394 shares during the period. United Services Automobile Association increased its position in New Jersey Resources by 16.4% in the 2nd quarter. United Services Automobile Association now owns 135,890 shares of the utilities provider’s stock valued at $6,081,000 after acquiring an additional 19,102 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in New Jersey Resources in the 3rd quarter valued at approximately $298,000. Hedge funds and other institutional investors own 65.90% of the company’s stock.
NYSE:NJR opened at $45.26 on Monday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.76 and a current ratio of 1.03. New Jersey Resources has a 52 week low of $36.20 and a 52 week high of $51.83. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 3.37 and a beta of 0.32.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be given a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Thursday, March 14th. New Jersey Resources’s payout ratio is 42.70%.
About New Jersey Resources
New Jersey Resources Corporation, an energy services holding company, provides regulated gas distribution, and retail and wholesale energy services. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Midstream segments. The Natural Gas Distribution segment offers regulated retail natural gas services to approximately 538,700 residential and commercial customers in central and northern New Jersey; provides storage management services; and participates in the off-system sales and capacity release markets.
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