NewJersey Resources Corporation (NYSE:NJR) VP Amanda Mullan sold 920 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $44.64, for a total value of $41,068.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of NewJersey Resources Corporation (NJR) traded up $0.50 during trading hours on Friday, hitting $40.95. The company had a trading volume of 1,291,827 shares, compared to its average volume of 467,275. The company has a current ratio of 0.72, a quick ratio of 0.46 and a debt-to-equity ratio of 0.81. NewJersey Resources Corporation has a twelve month low of $33.70 and a twelve month high of $45.45. The stock has a market capitalization of $3,513.75, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 3.72 and a beta of 0.43.
NewJersey Resources (NYSE:NJR) last announced its quarterly earnings data on Tuesday, November 21st. The utilities provider reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.01). The firm had revenue of $536.50 million for the quarter, compared to analysts’ expectations of $480.90 million. NewJersey Resources had a return on equity of 11.97% and a net margin of 5.82%. NewJersey Resources’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.03) earnings per share. sell-side analysts anticipate that NewJersey Resources Corporation will post 1.81 earnings per share for the current fiscal year.
The firm also recently announced 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 represents a $1.09 annualized dividend and a yield of 2.66%. This is an increase from NewJersey Resources’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, December 14th. NewJersey Resources’s dividend payout ratio is presently 71.71%.
A number of research firms have recently issued reports on NJR. ValuEngine lowered NewJersey Resources from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Janney Montgomery Scott upgraded NewJersey Resources from a “neutral” rating to a “buy” rating in a report on Wednesday, November 22nd. Zacks Investment Research upgraded NewJersey Resources from a “sell” rating to a “hold” rating in a report on Saturday, November 18th. Argus increased their price objective on NewJersey Resources from $46.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, August 28th. Finally, BidaskClub upgraded NewJersey Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. One analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $42.00.
A number of institutional investors have recently bought and sold shares of NJR. Zurcher Kantonalbank Zurich Cantonalbank increased its position in NewJersey Resources by 8.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,057 shares of the utilities provider’s stock worth $121,000 after buying an additional 244 shares during the last quarter. Patten Group Inc. increased its position in NewJersey Resources by 2,111.9% during the third quarter. Patten Group Inc. now owns 66,357 shares of the utilities provider’s stock worth $126,000 after buying an additional 63,357 shares during the last quarter. Advisor Group Inc. increased its position in NewJersey 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 buying an additional 1,589 shares during the last quarter. Flinton Capital Management LLC increased its position in NewJersey Resources by 92.2% during the second quarter. Flinton Capital Management LLC now owns 4,336 shares of the utilities provider’s stock worth $172,000 after buying an additional 2,080 shares during the last quarter. Finally, Mosaic Family Wealth LLC increased its position in NewJersey Resources by 5.9% during the second quarter. Mosaic Family Wealth LLC now owns 4,359 shares of the utilities provider’s stock worth $173,000 after buying an additional 243 shares during the last quarter. 63.60% of the stock is currently owned by hedge funds and other institutional investors.
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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