Shares of New Jersey Resources Corp (NYSE:NJR) have earned an average rating of “Hold” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $38.00.

NJR has been the subject of several research reports. Bank of America reiterated an “underperform” rating on shares of New Jersey Resources in a research note on Thursday, April 23rd. Guggenheim raised shares of New Jersey Resources from a “sell” rating to a “neutral” rating in a research report on Monday, March 16th. Wells Fargo & Co dropped their price target on shares of New Jersey Resources from $45.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, May 11th. Finally, Zacks Investment Research lowered shares of New Jersey Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, June 24th.

NJR stock traded up $0.21 during mid-day trading on Tuesday, reaching $32.44. 6,661 shares of the stock traded hands, compared to its average volume of 573,363. The company has a quick ratio of 0.49, a current ratio of 0.61 and a debt-to-equity ratio of 0.83. New Jersey Resources has a 52 week low of $21.14 and a 52 week high of $50.62. The business has a 50-day moving average of $33.14 and a two-hundred day moving average of $37.23. The firm has a market capitalization of $2.99 billion, a PE ratio of 16.31, a P/E/G ratio of 2.48 and a beta of 0.42.

New Jersey Resources (NYSE:NJR) last released its earnings results on Friday, May 8th. The utilities provider reported $1.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.43 by ($0.31). New Jersey Resources had a net margin of 8.65% and a return on equity of 9.11%. The company had revenue of $639.60 million during the quarter, compared to the consensus estimate of $881.60 million. During the same quarter in the previous year, the business posted $1.27 EPS. The firm’s quarterly revenue was down 26.2% on a year-over-year basis. On average, equities research analysts anticipate that New Jersey Resources will post 2.1 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Tuesday, June 16th will be issued a $0.313 dividend. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend is Monday, June 15th. New Jersey Resources’s dividend payout ratio is currently 64.10%.

A number of hedge funds have recently made changes to their positions in NJR. Sei Investments Co. bought a new position in New Jersey Resources in the fourth quarter valued at approximately $357,000. Victory Capital Management Inc. boosted its position in shares of New Jersey Resources by 0.7% during the fourth quarter. Victory Capital Management Inc. now owns 670,413 shares of the utilities provider’s stock worth $29,880,000 after purchasing an additional 4,608 shares in the last quarter. M&T Bank Corp boosted its position in shares of New Jersey Resources by 5.6% during the fourth quarter. M&T Bank Corp now owns 4,681 shares of the utilities provider’s stock worth $208,000 after purchasing an additional 250 shares in the last quarter. FMR LLC boosted its position in shares of New Jersey Resources by 13.2% during the fourth quarter. FMR LLC now owns 1,615,007 shares of the utilities provider’s stock worth $71,981,000 after purchasing an additional 188,238 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of New Jersey Resources by 42.6% during the fourth quarter. Bank of Montreal Can now owns 48,175 shares of the utilities provider’s stock worth $2,147,000 after purchasing an additional 14,398 shares in the last quarter. 70.33% of the stock is currently owned by hedge funds and other institutional investors.

New Jersey Resources Company Profile

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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