New Jersey Resources Corp. (NJR) Shares Down 0.8%
New Jersey Resources Corp. (NYSE:NJR)’s share price was down 0.8% during trading on Monday . The stock traded as low as $34.74 and last traded at $34.74, with a volume of 135,614 shares trading hands. The stock had previously closed at $35.02.
Several equities analysts have recently commented on NJR shares. Argus reaffirmed a “buy” rating and set a $42.00 price objective on shares of New Jersey Resources Corp. in a research note on Monday, June 20th. Zacks Investment Research upgraded shares of New Jersey Resources Corp. from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research report on Wednesday, July 13th. Finally, Wells Fargo & Co. initiated 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 investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $38.13.
The firm has a 50 day moving average price of $36.94 and a 200 day moving average price of $35.91. The firm has a market cap of $2.87 billion and a price-to-earnings ratio of 26.01.
New Jersey Resources Corp. (NYSE:NJR) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by $0.01. During the same period in the prior year, the firm earned $0.03 earnings per share. The business had revenue of $393.21 million for the quarter, compared to analyst estimates of $425.99 million. The firm’s quarterly revenue was down 14.2% on a year-over-year basis. 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 2.86%.
Several large investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in 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 period. New York State Common Retirement Fund raised its stake in 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 period. Wells Fargo & Company MN raised its stake in 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 period. Finally, Dimensional Fund Advisors LP raised its stake in 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 period.
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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