NewJersey Resources Corporation (NYSE:NJR) – Equities researchers at Seaport Global Securities dropped their Q4 2017 EPS estimates for NewJersey Resources Corporation in a note issued to investors on Thursday. Seaport Global Securities analyst M. Levin now expects that the utilities provider will post earnings of ($0.11) per share for the quarter, down from their prior forecast of $0.23. Seaport Global Securities also issued estimates for NewJersey Resources Corporation’s FY2019 earnings at $1.94 EPS.

NewJersey Resources Corporation (NYSE:NJR) last posted its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.19. NewJersey Resources Corporation had a net margin of 8.81% and a return on equity of 12.77%. The business had revenue of $457.52 million during the quarter, compared to the consensus estimate of $410.24 million. During the same period in the previous year, the firm posted $0.13 earnings per share. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year.

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Other research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of NewJersey Resources Corporation from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Tuesday, July 11th. BidaskClub downgraded shares of NewJersey Resources Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Finally, Bank of America Corporation reaffirmed an “underperform” rating and issued a $35.00 target price (up from $32.00) on shares of NewJersey Resources Corporation in a research report on Friday, May 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. NewJersey Resources Corporation presently has a consensus rating of “Buy” and an average price target of $38.80.

NewJersey Resources Corporation (NYSE NJR) traded down 0.287% during midday trading on Monday, hitting $43.475. 79,339 shares of the stock traded hands. The company has a 50-day moving average price of $41.08 and a 200 day moving average price of $39.94. NewJersey Resources Corporation has a one year low of $30.46 and a one year high of $43.75. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of 19.487 and a beta of 0.47.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 22nd will be given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 2.34%. The ex-dividend date is Thursday, September 21st. NewJersey Resources Corporation’s payout ratio is currently 45.74%.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank purchased a new stake in NewJersey Resources Corporation during the fourth quarter valued at approximately $14,408,000. Teachers Advisors LLC boosted its stake in NewJersey Resources Corporation by 3.0% in the fourth quarter. Teachers Advisors LLC now owns 154,600 shares of the utilities provider’s stock valued at $5,488,000 after buying an additional 4,549 shares during the period. Fulton Bank N.A. purchased a new stake in NewJersey Resources Corporation during the first quarter valued at approximately $214,000. Creative Planning boosted its stake in NewJersey Resources Corporation by 0.3% in the first quarter. Creative Planning now owns 13,267 shares of the utilities provider’s stock valued at $525,000 after buying an additional 40 shares during the period. Finally, Bank of Montreal Can boosted its stake in NewJersey Resources Corporation by 6.4% in the first quarter. Bank of Montreal Can now owns 37,572 shares of the utilities provider’s stock valued at $1,488,000 after buying an additional 2,247 shares during the period. 65.07% of the stock is currently owned by institutional investors.

About NewJersey Resources Corporation

New Jersey Resources Corporation is an energy services holding company. The Company’s business is the distribution of natural gas through a regulated utility, which provides other retail and wholesale energy services to customers and investing in clean energy projects and midstream assets. It operates in four business segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services and Midstream.

Earnings History and Estimates for NewJersey Resources Corporation (NYSE:NJR)

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