NewJersey Resources (NYSE:NJR) announced its earnings results on Thursday. The utilities provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.97, Bloomberg Earnings reports. The firm had revenue of $705.31 million for the quarter, compared to analysts’ expectations of $564.47 million. NewJersey Resources had a return on equity of 11.97% and a net margin of 5.82%. NewJersey Resources’s quarterly revenue was up 30.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 EPS. NewJersey Resources updated its FY18 guidance to $2.55-2.65 EPS.

Shares of NewJersey Resources (NJR) opened at $36.25 on Friday. NewJersey Resources has a fifty-two week low of $35.55 and a fifty-two week high of $45.45. The company has a current ratio of 0.72, a quick ratio of 0.46 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $3,189.64, a price-to-earnings ratio of 23.85, a PEG ratio of 3.38 and a beta of 0.33.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be issued a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Wednesday, March 14th. NewJersey Resources’s dividend payout ratio (DPR) is 71.71%.

NJR has been the topic of a number of analyst reports. Zacks Investment Research cut NewJersey Resources from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Janney Montgomery Scott upgraded NewJersey Resources from a “neutral” rating to a “buy” rating in a report on Wednesday, November 22nd. ValuEngine cut NewJersey Resources from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Guggenheim restated a “buy” rating and set a $44.00 price objective on shares of NewJersey Resources in a report on Wednesday, January 3rd. Finally, TheStreet cut NewJersey Resources from a “b” rating to a “c+” rating in a report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $44.00.

In other news, VP Amanda Mullan sold 920 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $44.64, for a total transaction of $41,068.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Lawrence R. Codey sold 6,000 shares of the firm’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $43.13, for a total value of $258,780.00. Following the sale, the director now owns 13,266 shares in the company, valued at approximately $572,162.58. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.

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NewJersey Resources Company Profile

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 for NewJersey Resources (NYSE:NJR)

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