New Jersey Resources Corp. (NJR) Stock Price Down 2.3%
Shares of New Jersey Resources Corp. (NYSE:NJR) were down 2.3% during mid-day trading on Friday . The company 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 recently commented on NJR shares. Argus reaffirmed a “buy” rating and issued a $42.00 price target on shares of New Jersey Resources Corp. in a research note on Monday, June 20th. Zacks Investment Research raised 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 note on Wednesday, July 13th. Finally, Wells Fargo & Co. started coverage on New Jersey Resources Corp. in a research note on Wednesday, June 1st. They issued a “market perform” rating on the stock. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target 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 firm has a market cap of $2.88 billion and a P/E ratio of 26.03.
New Jersey Resources Corp. (NYSE:NJR) last released its quarterly earnings data 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 last year, the firm posted $0.03 earnings per share. The firm earned $393.21 million during the quarter, compared to the consensus estimate of $425.99 million. The firm’s revenue was down 14.2% on a year-over-year basis. On average, equities research 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. Stockholders of record on Friday, September 23rd will be given 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 2.87%.
A hedge fund recently raised its stake in New Jersey Resources Corp. stock. Dimensional Fund Advisors LP raised its position in shares of New Jersey Resources Corp. (NYSE:NJR) by 1.0% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,580,298 shares of the company’s stock after buying an additional 14,959 shares during the period. Dimensional Fund Advisors LP owned 1.84% of New Jersey Resources Corp. worth $52,089,000 at the end of the most recent reporting 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).