NewJersey Resources Corporation (NYSE:NJR) released its quarterly earnings results on Tuesday. The utilities provider reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.01), Bloomberg Earnings reports. NewJersey Resources Corporation had a net margin of 8.81% and a return on equity of 12.77%. The company had revenue of $536.50 million for the quarter, compared to the consensus estimate of $480.90 million. During the same period in the prior year, the firm posted ($0.03) EPS. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. NewJersey Resources Corporation updated its FY18 guidance to $1.75-1.85 EPS.

Shares of NewJersey Resources Corporation (NJR) opened at $43.80 on Wednesday. NewJersey Resources Corporation has a 52-week low of $33.40 and a 52-week high of $45.45. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.55 and a current ratio of 0.82. The stock has a market capitalization of $3,833.66, a P/E ratio of 24.08, a price-to-earnings-growth ratio of 3.95 and a beta of 0.45.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be given a $0.2725 dividend. This is an increase from NewJersey Resources Corporation’s previous quarterly dividend of $0.26. This represents a $1.09 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Thursday, December 14th. NewJersey Resources Corporation’s payout ratio is currently 48.88%.

Several analysts have issued reports on the company. Zacks Investment Research raised NewJersey Resources Corporation from a “sell” rating to a “hold” rating in a report on Saturday. Argus upped their price objective on NewJersey Resources Corporation from $46.00 to $49.00 and gave the stock a “buy” rating in a research note on Monday, August 28th. BidaskClub raised NewJersey Resources Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 26th. Finally, Bank of America Corporation upped their price objective on NewJersey Resources Corporation from $35.00 to $38.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $42.00.

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About NewJersey Resources Corporation

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.

Earnings History for NewJersey Resources Corporation (NYSE:NJR)

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