New Jersey Resources Corp (NYSE:NJR) VP Patrick J. Migliaccio sold 2,618 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $37.90, for a total transaction of $99,222.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
New Jersey Resources Corp (NJR) opened at $39.25 on Friday. The firm has a market cap of $3,438.10, a P/E ratio of 13.92, a P/E/G ratio of 2.52 and a beta of 0.33. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. New Jersey Resources Corp has a 52-week low of $35.55 and a 52-week high of $45.45.
New Jersey Resources (NYSE:NJR) last issued its quarterly earnings data on Thursday, February 8th. The utilities provider reported $1.56 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.97. The firm had revenue of $705.31 million for the quarter, compared to analyst estimates of $564.47 million. New Jersey Resources had a net margin of 9.08% and a return on equity of 18.96%. The company’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.47 earnings per share. equities analysts expect that New Jersey Resources Corp will post 2.6 EPS for the current year.
Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of New Jersey Resources from a “hold” rating to a “strong-buy” rating and set a $44.00 price target for the company in a report on Tuesday, February 13th. TheStreet cut shares of New Jersey Resources from a “b” rating to a “c+” rating in a report on Wednesday, January 3rd. Guggenheim restated a “buy” rating and set a $44.00 price target on shares of New Jersey Resources in a report on Wednesday, January 3rd. ValuEngine cut shares of New Jersey Resources from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Janney Montgomery Scott upgraded shares of New Jersey Resources from a “neutral” rating to a “buy” rating in a report on Wednesday, November 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. New Jersey Resources presently has an average rating of “Buy” and a consensus price target of $43.75.
Institutional investors and hedge funds have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC bought a new position in New Jersey Resources during the third quarter valued at approximately $429,000. Beacon Investment Advisory Services Inc. bought a new position in New Jersey Resources during the third quarter valued at approximately $1,054,000. Crossmark Global Holdings Inc. bought a new position in New Jersey Resources during the third quarter valued at approximately $336,000. Janney Montgomery Scott LLC raised its position in New Jersey Resources by 4.6% during the third quarter. Janney Montgomery Scott LLC now owns 58,800 shares of the utilities provider’s stock valued at $2,478,000 after acquiring an additional 2,561 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in New Jersey Resources by 26.1% during the third quarter. Prudential Financial Inc. now owns 102,424 shares of the utilities provider’s stock valued at $4,317,000 after acquiring an additional 21,210 shares in the last quarter. 63.23% of the stock is currently owned by hedge funds and other institutional investors.
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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