New Jersey Resources Corp. (NJR) Shares Down 1.8%
New Jersey Resources Corp. (NYSE:NJR)’s share price traded down 1.8% during trading on Thursday . The stock traded as low as $37.37 and last traded at $37.38, with a volume of 174,461 shares trading hands. The stock had previously closed at $38.08.
Several equities analysts have recently commented on the stock. Zacks Investment Research raised shares of New Jersey Resources Corp. from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Wednesday. BB&T Corp. started coverage on shares of New Jersey Resources Corp. in a research report on Wednesday, March 30th. They set a “hold” rating on the stock. Argus reiterated a “buy” rating and set a $42.00 price target on shares of New Jersey Resources Corp. in a research report on Monday, June 20th. Janney Montgomery Scott cut shares of New Jersey Resources Corp. from a “buy” rating to a “neutral” rating in a research report on Thursday, March 31st. They noted that the move was a valuation call. Finally, Wells Fargo & Co. started coverage on shares of New Jersey Resources Corp. in a research report on Wednesday, June 1st. They set a “market perform” rating on the stock. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $38.13.
The firm has a 50 day moving average price of $37.06 and a 200 day moving average price of $35.54. The firm has a market cap of $3.24 billion and a price-to-earnings ratio of 27.30.
New Jersey Resources Corp. (NYSE:NJR) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $0.91 EPS for the quarter, hitting analysts’ consensus estimates of $0.91. The business earned $574.19 million during the quarter, compared to analysts’ expectations of $1.08 billion. The business’s quarterly revenue was down 43.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.16 earnings per share. On average, equities analysts expect that New Jersey Resources Corp. will post $1.62 EPS for the current 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 paid a $0.24 dividend. The ex-dividend date is Wednesday, September 21st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.55%.
In other New Jersey Resources Corp. news, Director George R. Zoffinger sold 9,743 shares of New Jersey Resources Corp. stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $34.77, for a total value of $338,764.11. Following the completion of 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 filing with the Securities & Exchange Commission, which is accessible through this link.
Other institutional investors have modified their holdings of the company. State of Wisconsin Investment Board boosted 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 worth $3,966,000 after buying an additional 3,598 shares during the last quarter. Rhumbline Advisers boosted its position in New Jersey Resources Corp. by 3.6% in the fourth quarter. Rhumbline Advisers now owns 150,146 shares of the company’s stock worth $4,949,000 after buying an additional 5,165 shares in the last quarter. GAM Holding AG purchased a new position in New Jersey Resources Corp. during the fourth quarter worth approximately $1,549,000. First Trust Advisors LP boosted its position in New Jersey Resources Corp. by 0.3% in the fourth quarter. First Trust Advisors LP now owns 257,306 shares of the company’s stock worth $8,481,000 after buying an additional 873 shares in the last quarter. Finally, Comerica Bank boosted its position in New Jersey Resources Corp. by 0.7% in the fourth quarter. Comerica Bank now owns 87,127 shares of the company’s stock worth $2,931,000 after buying an additional 603 shares in 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).