Equities analysts expect New Jersey Resources Corp (NYSE:NJR) to announce sales of $747.85 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for New Jersey Resources’ earnings. The lowest sales estimate is $734.00 million and the highest is $761.70 million. New Jersey Resources posted sales of $733.55 million in the same quarter last year, which would indicate a positive year over year growth rate of 1.9%. The company is expected to issue its next quarterly earnings report on Friday, May 4th.
On average, analysts expect that New Jersey Resources will report full-year sales of $747.85 million for the current financial year, with estimates ranging from $2.27 billion to $2.58 billion. For the next year, analysts expect that the company will post sales of $2.45 billion per share, with estimates ranging from $2.33 billion to $2.54 billion. Zacks’ sales averages are an average based on a survey of research firms that cover New Jersey Resources.
New Jersey Resources (NYSE:NJR) last announced its quarterly earnings data on Thursday, February 8th. The utilities provider reported $1.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.97. New Jersey Resources had a return on equity of 18.96% and a net margin of 9.08%. The firm had revenue of $705.31 million during the quarter, compared to analysts’ expectations of $564.47 million. During the same quarter last year, the firm posted $0.47 earnings per share. The company’s revenue for the quarter was up 30.4% compared to the same quarter last year.
Shares of New Jersey Resources (NJR) traded up $0.60 during trading on Wednesday, reaching $39.25. The company’s stock had a trading volume of 773,930 shares, compared to its average volume of 912,258. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 0.74. New Jersey Resources has a 12-month low of $35.55 and a 12-month high of $45.45. The firm has a market capitalization of $3,385.54, a PE ratio of 15.45, a PEG ratio of 2.48 and a beta of 0.33.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be issued a $0.2725 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 2.78%. New Jersey Resources’s dividend payout ratio is presently 42.91%.
In other news, Director Lawrence R. Codey sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $43.13, for a total value of $258,780.00. Following the transaction, the director now owns 13,266 shares in the company, valued at $572,162.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Amanda Mullan sold 920 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $44.64, for a total value of $41,068.80. The disclosure for this sale can be found here. Insiders sold 9,538 shares of company stock worth $399,071 in the last 90 days. Corporate insiders own 1.50% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Patten Group Inc. lifted its holdings in shares of New Jersey Resources by 2,111.9% in the third quarter. Patten Group Inc. now owns 66,357 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 63,357 shares in the last quarter. Cornerstone Capital Management Holdings LLC. bought a new stake in New Jersey Resources during the fourth quarter worth $144,000. Advisor Group Inc. lifted its holdings in New Jersey Resources by 59.7% during the second quarter. Advisor Group Inc. now owns 4,251 shares of the utilities provider’s stock worth $163,000 after acquiring an additional 1,589 shares during the period. MHI Funds LLC bought a new stake in New Jersey Resources during the fourth quarter worth $179,000. Finally, Meeder Asset Management Inc. bought a new stake in New Jersey Resources during the third quarter worth $185,000. Institutional investors own 63.23% of the company’s stock.
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New Jersey Resources 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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