Wall Street analysts expect that NewJersey Resources Corporation (NYSE:NJR) will announce ($0.11) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for NewJersey Resources Corporation’s earnings, with the highest EPS estimate coming in at ($0.06) and the lowest estimate coming in at ($0.15). NewJersey Resources Corporation reported earnings per share of ($0.02) in the same quarter last year, which would suggest a negative year over year growth rate of 450%. The company is expected to announce its next quarterly earnings results on Thursday, November 16th.
According to Zacks, analysts expect that NewJersey Resources Corporation will report full-year earnings of $1.74 per share for the current financial year, with EPS estimates ranging from $1.70 to $1.78. For the next fiscal year, analysts forecast that the firm will post earnings of $1.87 per share, with EPS estimates ranging from $1.85 to $1.90. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for NewJersey Resources Corporation.
NewJersey Resources Corporation (NYSE:NJR) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.19. The company had revenue of $457.52 million during the quarter, compared to analysts’ expectations of $410.24 million. NewJersey Resources Corporation had a net margin of 8.81% and a return on equity of 12.77%. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 earnings per share.
A number of research firms have recently issued reports on NJR. BidaskClub raised shares of NewJersey Resources Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 13th. Zacks Investment Research raised shares of NewJersey Resources Corporation from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Tuesday, July 11th. Bank of America Corporation increased their price target on shares of NewJersey Resources Corporation from $35.00 to $38.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 23rd. Finally, Argus increased their price target on shares of NewJersey Resources Corporation from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Monday, August 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $40.80.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Griffin Asset Management Inc. purchased a new stake in shares of NewJersey Resources Corporation in the second quarter worth approximately $4,466,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of NewJersey Resources Corporation in the second quarter worth approximately $846,000. WINTON GROUP Ltd lifted its position in shares of NewJersey Resources Corporation by 102.3% in the second quarter. WINTON GROUP Ltd now owns 185,985 shares of the utilities provider’s stock worth $7,384,000 after purchasing an additional 94,056 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of NewJersey Resources Corporation by 5.1% in the second quarter. Public Employees Retirement System of Ohio now owns 5,823 shares of the utilities provider’s stock worth $231,000 after purchasing an additional 284 shares in the last quarter. Finally, Verition Fund Management LLC lifted its position in shares of NewJersey Resources Corporation by 31.4% in the second quarter. Verition Fund Management LLC now owns 9,722 shares of the utilities provider’s stock worth $386,000 after purchasing an additional 2,323 shares in the last quarter. 64.00% of the stock is owned by institutional investors and hedge funds.
Shares of NewJersey Resources Corporation (NYSE NJR) traded down 0.82% during trading on Wednesday, reaching $42.20. 450,142 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $43.29 and its 200 day moving average price is $41.23. NewJersey Resources Corporation has a 52 week low of $30.46 and a 52 week high of $44.30. The firm has a market capitalization of $3.65 billion, a PE ratio of 18.92 and a beta of 0.47.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 22nd will be given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Thursday, September 21st. NewJersey Resources Corporation’s dividend payout ratio (DPR) is 45.74%.
NewJersey Resources Corporation 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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