New Jersey Resources Corp. (NYSE:NJR) has been assigned an average rating of “Hold” from the eight brokerages that are currently covering the stock. Six investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $37.17.

NJR has been the subject of a number of research analyst reports. Guggenheim initiated coverage on New Jersey Resources Corp. in a report on Thursday, November 3rd. They issued a “buy” rating and a $36.00 price target for the company. Zacks Investment Research upgraded New Jersey Resources Corp. from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Tuesday, October 11th. TheStreet downgraded New Jersey Resources Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 31st. Finally, Argus reiterated a “buy” rating and issued a $42.00 price target on shares of New Jersey Resources Corp. in a report on Friday, September 16th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. National Asset Management Inc. raised its position in shares of New Jersey Resources Corp. by 0.3% in the second quarter. National Asset Management Inc. now owns 7,246 shares of the company’s stock worth $280,000 after buying an additional 21 shares during the period. National Planning Corp raised its position in shares of New Jersey Resources Corp. by 0.9% in the second quarter. National Planning Corp now owns 8,571 shares of the company’s stock worth $310,000 after buying an additional 78 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of New Jersey Resources Corp. by 1.9% in the second quarter. Public Employees Retirement System of Ohio now owns 5,699 shares of the company’s stock worth $220,000 after buying an additional 108 shares during the period. State Treasurer State of Michigan raised its position in shares of New Jersey Resources Corp. by 0.6% in the second quarter. State Treasurer State of Michigan now owns 34,500 shares of the company’s stock worth $1,330,000 after buying an additional 200 shares during the period. Finally, Legal & General Group Plc raised its position in shares of New Jersey Resources Corp. by 0.4% in the first quarter. Legal & General Group Plc now owns 61,317 shares of the company’s stock worth $2,224,000 after buying an additional 245 shares during the period. Institutional investors and hedge funds own 60.49% of the company’s stock.

New Jersey Resources Corp. (NYSE:NJR) traded down 0.85% on Wednesday, reaching $35.00. The company’s stock had a trading volume of 263,759 shares. The firm has a market capitalization of $3.01 billion, a P/E ratio of 23.03 and a beta of 0.38. The firm has a 50-day moving average price of $33.19 and a 200 day moving average price of $34.88. New Jersey Resources Corp. has a 52-week low of $28.02 and a 52-week high of $38.92.

New Jersey Resources Corp. (NYSE:NJR) last issued its quarterly earnings results on Tuesday, November 22nd. The company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.03. New Jersey Resources Corp. had a net margin of 6.91% and a return on equity of 11.54%. The firm earned $469.24 million during the quarter, compared to the consensus estimate of $449.98 million. During the same quarter last year, the firm posted $0.05 earnings per share. New Jersey Resources Corp.’s revenue was up 7.1% compared to the same quarter last year. Equities analysts anticipate that New Jersey Resources Corp. will post $1.79 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Thursday, December 15th will be given a dividend of $0.255 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $1.02 dividend on an annualized basis and a yield of 2.89%. This is a positive change from New Jersey Resources Corp.’s previous quarterly dividend of $0.24. New Jersey Resources Corp.’s payout ratio is currently 64.43%.

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About New Jersey Resources Corp.

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).

5 Day Chart for NYSE:NJR

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