NewJersey Resources Corporation (NYSE:NJR) VP Amanda Mullan sold 920 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $44.64, for a total value of $41,068.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of NewJersey Resources Corporation (NJR) traded up $0.10 during mid-day trading on Thursday, hitting $43.40. The company had a trading volume of 424,400 shares, compared to its average volume of 426,782. The company has a quick ratio of 0.46, a current ratio of 0.72 and a debt-to-equity ratio of 0.81. NewJersey Resources Corporation has a one year low of $33.70 and a one year high of $45.45. The stock has a market capitalization of $3,761.32, a P/E ratio of 25.17, a PEG ratio of 3.95 and a beta of 0.43.
NewJersey Resources (NYSE:NJR) last issued its quarterly earnings data on Tuesday, November 21st. The utilities provider reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.01). NewJersey Resources had a return on equity of 11.97% and a net margin of 5.82%. The business had revenue of $536.50 million during the quarter, compared to analysts’ expectations of $480.90 million. During the same quarter last year, the business posted ($0.03) EPS. The company’s quarterly revenue was up 14.3% on a year-over-year basis. sell-side analysts predict that NewJersey Resources Corporation will post 1.83 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be given a dividend of $0.2725 per share. This is an increase from NewJersey Resources’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, December 14th. This represents a $1.09 dividend on an annualized basis and a yield of 2.51%. NewJersey Resources’s dividend payout ratio (DPR) is presently 71.71%.
NJR has been the subject of several recent analyst reports. Bank of America upped their target price on NewJersey Resources from $35.00 to $38.00 and gave the company an “underperform” rating in a report on Wednesday, August 23rd. BidaskClub raised NewJersey Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. Argus increased their price objective on NewJersey Resources from $46.00 to $49.00 and gave the company a “buy” rating in a report on Monday, August 28th. Zacks Investment Research lowered NewJersey Resources from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Finally, Janney Montgomery Scott raised NewJersey 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, three have issued a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $42.00.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capstone Asset Management Co. boosted its position in NewJersey Resources by 0.3% during the 2nd quarter. Capstone Asset Management Co. now owns 7,218 shares of the utilities provider’s stock valued at $287,000 after acquiring an additional 20 shares in the last quarter. National Planning Corp boosted its position in NewJersey Resources by 0.6% during the 2nd quarter. National Planning Corp now owns 8,256 shares of the utilities provider’s stock valued at $330,000 after acquiring an additional 51 shares in the last quarter. TD Asset Management Inc. boosted its position in NewJersey Resources by 0.5% during the 2nd quarter. TD Asset Management Inc. now owns 19,024 shares of the utilities provider’s stock valued at $755,000 after acquiring an additional 100 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in NewJersey Resources by 2.0% during the 1st quarter. Public Employees Retirement System of Ohio now owns 5,539 shares of the utilities provider’s stock valued at $219,000 after acquiring an additional 111 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its position in NewJersey Resources by 1.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 6,884 shares of the utilities provider’s stock valued at $273,000 after acquiring an additional 118 shares in the last quarter. Institutional investors and hedge funds own 63.60% of the company’s stock.
About NewJersey Resources
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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