TheStreet downgraded shares of New Jersey Resources (NYSE:NJR) from a b- rating to a c+ rating in a research report released on Thursday, TheStreetRatingsTable reports.

Several other equities research analysts have also recently issued reports on NJR. ValuEngine cut shares of New Jersey Resources from a buy rating to a hold rating in a research report on Tuesday, October 1st. Zacks Investment Research upgraded shares of New Jersey Resources from a sell rating to a hold rating in a research report on Wednesday, October 9th. Finally, Guggenheim upgraded shares of New Jersey Resources from a sell rating to a neutral rating in a research report on Thursday, July 11th.

New Jersey Resources stock opened at $43.79 on Thursday. New Jersey Resources has a 12-month low of $42.70 and a 12-month high of $51.83. The stock has a market cap of $3.92 billion, a P/E ratio of 15.98, a PEG ratio of 2.51 and a beta of 0.35. The company has a 50-day moving average price of $44.56 and a 200 day moving average price of $47.71. The company has a current ratio of 0.88, a quick ratio of 0.62 and a debt-to-equity ratio of 0.77.

New Jersey Resources (NYSE:NJR) last released its quarterly earnings data on Tuesday, August 6th. The utilities provider reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.32). New Jersey Resources had a return on equity of 7.93% and a net margin of 4.90%. The firm had revenue of $434.94 million for the quarter, compared to analyst estimates of $592.80 million. During the same quarter in the previous year, the business posted ($0.09) earnings per share. New Jersey Resources’s revenue for the quarter was down 20.0% on a year-over-year basis. As a group, analysts forecast that New Jersey Resources will post 1.97 EPS for the current year.

In other New Jersey Resources news, CEO Laurence M. Downes sold 22,000 shares of New Jersey Resources stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $45.00, for a total transaction of $990,000.00. Following the completion of the sale, the chief executive officer now directly owns 405,572 shares in the company, valued at $18,250,740. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Executive Wealth Management LLC acquired a new stake in shares of New Jersey Resources during the second quarter valued at about $45,000. Coastal Investment Advisors Inc. increased its position in shares of New Jersey Resources by 84.2% during the second quarter. Coastal Investment Advisors Inc. now owns 921 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 421 shares during the last quarter. Stonebridge Capital Advisors LLC acquired a new stake in shares of New Jersey Resources during the second quarter valued at about $45,000. Point72 Asset Management L.P. acquired a new stake in shares of New Jersey Resources during the second quarter valued at about $55,000. Finally, Doyle Wealth Management acquired a new stake in shares of New Jersey Resources during the second quarter valued at about $158,000. Institutional investors and hedge funds own 66.95% of the company’s stock.

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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