New Jersey Resources Corp. (NYSE:NJR) shares dropped 0.8% on Monday . The company traded as low as $34.74 and last traded at $34.74, with a volume of 135,614 shares traded. The stock had previously closed at $35.02.

NJR has been the subject of a number of analyst reports. Argus reiterated a “buy” rating and issued a $42.00 price objective on shares of New Jersey Resources Corp. in a research report on Monday, June 20th. Zacks Investment Research raised shares of New Jersey Resources Corp. from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Wednesday, July 13th. Finally, Wells Fargo & Co. initiated coverage on shares of New Jersey Resources Corp. in a research note on Wednesday, June 1st. They set a “market perform” rating for the company. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $38.13.

The company has a market capitalization of $2.96 billion and a price-to-earnings ratio of 26.77. The company has a 50 day moving average price of $37.05 and a 200-day moving average price of $35.92.

New Jersey Resources Corp. (NYSE:NJR) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.01. The business had revenue of $393.21 million for the quarter, compared to the consensus estimate of $425.99 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. The business’s revenue was down 14.2% compared to the same quarter last year. Equities analysts forecast that New Jersey Resources Corp. will post $1.62 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 23rd will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.80%. The ex-dividend date is Wednesday, September 21st.

In other New Jersey Resources Corp. news, Director George R. Zoffinger sold 9,743 shares of the firm’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $34.77, for a total transaction of $338,764.11. Following the transaction, the director now directly owns 12,594 shares of the company’s stock, valued at approximately $437,893.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Other hedge funds and institutional investors have modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of New Jersey Resources Corp. by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,580,298 shares of the company’s stock valued at $52,089,000 after buying an additional 14,959 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of New Jersey Resources Corp. by 32.9% in the fourth quarter. Wells Fargo & Company MN now owns 779,279 shares of the company’s stock valued at $25,684,000 after buying an additional 192,759 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of New Jersey Resources Corp. by 4.4% in the fourth quarter. Principal Financial Group Inc. now owns 582,027 shares of the company’s stock valued at $19,184,000 after buying an additional 24,555 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of New Jersey Resources Corp. by 2.8% in the fourth quarter. New York State Common Retirement Fund now owns 145,614 shares of the company’s stock valued at $4,799,000 after buying an additional 3,900 shares during the last quarter. Finally, State of Wisconsin Investment Board increased its position in shares of New Jersey Resources Corp. by 3.1% in the fourth quarter. State of Wisconsin Investment Board now owns 120,320 shares of the company’s stock valued at $3,966,000 after buying an additional 3,598 shares during the last quarter.

New Jersey Resources Corporation (NJR) is an energy services holding company that provides retail and wholesale energy services to customers primarily in the Gulf Coast, Mid-Continent, Appalachian, Northeastern, and Western market areas of the United States, as well as Canada. The Company operates within four reportable business segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services and Midstream (formerly Energy Holdings).

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