New Jersey Resources Corp (NYSE:NJR) has received a consensus recommendation of “Buy” from the six brokerages that are presently covering the firm. Three analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $38.00.
Separately, Zacks Investment Research raised New Jersey Resources Corp from a “sell” rating to a “hold” rating in a research report on Saturday, February 11th.
In related news, Director Jane M. Kenny sold 3,000 shares of the stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $39.43, for a total value of $118,290.00. Following the completion of the transaction, the director now owns 12,031 shares of the company’s stock, valued at approximately $474,382.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of New Jersey Resources Corp by 11.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,951 shares of the utilities provider’s stock valued at $104,000 after buying an additional 292 shares during the last quarter. Mosaic Family Wealth LLC increased its stake in shares of New Jersey Resources Corp by 11.9% in the third quarter. Mosaic Family Wealth LLC now owns 3,866 shares of the utilities provider’s stock valued at $127,000 after buying an additional 412 shares during the last quarter. LS Investment Advisors LLC increased its stake in shares of New Jersey Resources Corp by 7.1% in the third quarter. LS Investment Advisors LLC now owns 5,494 shares of the utilities provider’s stock valued at $181,000 after buying an additional 364 shares during the last quarter. Cypress Wealth Advisors LLC purchased a new stake in shares of New Jersey Resources Corp during the fourth quarter valued at about $203,000. Finally, Elkfork Partners LLC bought a new stake in New Jersey Resources Corp during the fourth quarter valued at $209,000. 60.26% of the stock is owned by hedge funds and other institutional investors.
Shares of New Jersey Resources Corp (NYSE:NJR) traded up 0.437% on Tuesday, reaching $40.225. The company’s stock had a trading volume of 147,873 shares. The company has a market cap of $3.47 billion, a P/E ratio of 30.019 and a beta of 0.43. The company’s 50 day moving average price is $39.39 and its 200 day moving average price is $36.23. New Jersey Resources Corp has a 12-month low of $30.46 and a 12-month high of $42.65.
New Jersey Resources Corp (NYSE:NJR) last posted its quarterly earnings results on Wednesday, February 8th. The utilities provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.61 by $0.14. The company earned $541.03 million during the quarter, compared to analysts’ expectations of $470.13 million. New Jersey Resources Corp had a return on equity of 10.71% and a net margin of 5.88%. The business’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.60 EPS. Analysts forecast that New Jersey Resources Corp will post $1.70 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Wednesday, March 15th were issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date was Monday, March 13th. New Jersey Resources Corp’s payout ratio is 76.69%.
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New Jersey Resources Corp Company Profile
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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