New Jersey Resources Corp. (NJR) Stock Price Down 2.3%
Shares of New Jersey Resources Corp. (NYSE:NJR) were down 2.3% on Friday . The stock traded as low as $33.31 and last traded at $33.40, with a volume of 233,738 shares trading hands. The stock had previously closed at $34.18.
Several analysts have weighed in on NJR shares. Zacks Investment Research downgraded New Jersey Resources Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, June 1st. Argus reiterated a “buy” rating and set a $42.00 price target on shares of New Jersey Resources Corp. in a research note on Monday, June 20th. Finally, Wells Fargo & Co. started coverage on New Jersey Resources Corp. in a research note on Wednesday, June 1st. They set a “market perform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $38.13.
The company has a 50 day moving average price of $36.10 and a 200 day moving average price of $35.84. The company has a market cap of $2.88 billion and a PE ratio of 26.03.
New Jersey Resources Corp. (NYSE:NJR) last released its earnings results on Tuesday, August 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.01. During the same period in the previous year, the business posted $0.03 EPS. The company earned $393.21 million during the quarter, compared to analysts’ expectations of $425.99 million. The company’s revenue for the quarter was down 14.2% compared to the same quarter last year. Analysts expect that New Jersey Resources Corp. will post $1.62 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 23rd will be issued a $0.24 dividend. The ex-dividend date is Wednesday, September 21st. This represents a $0.96 dividend on an annualized basis and a yield of 2.87%.
A hedge fund recently raised its stake in New Jersey Resources Corp. stock. Principal Financial Group Inc. increased its position in shares of New Jersey Resources Corp. (NYSE:NJR) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 582,027 shares of the company’s stock after buying an additional 24,555 shares during the period. Principal Financial Group Inc. owned 0.68% of New Jersey Resources Corp. worth $19,184,000 as of its most recent SEC filing.
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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