Wall Street brokerages expect New Jersey Resources Corp (NYSE:NJR) to announce earnings of $0.99 per share for the current quarter, according to Zacks. Two analysts have made estimates for New Jersey Resources Corp’s earnings, with the lowest EPS estimate coming in at $0.91 and the highest estimate coming in at $1.08. New Jersey Resources Corp posted earnings of $0.91 per share during the same quarter last year, which indicates a positive year over year growth rate of 8.8%. The business is scheduled to issue its next earnings report before the market opens on Friday, May 5th.
According to Zacks, analysts expect that New Jersey Resources Corp will report full-year earnings of $1.70 per share for the current financial year, with EPS estimates ranging from $1.68 to $1.72. For the next year, analysts expect that the business will post earnings of $1.84 per share, with EPS estimates ranging from $1.82 to $1.86. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for New Jersey Resources Corp.
New Jersey Resources Corp (NYSE:NJR) last posted its earnings results on Wednesday, February 8th. The utilities provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.61 by $0.14. The firm earned $541.03 million during the quarter, compared to analyst estimates of $470.13 million. New Jersey Resources Corp had a net margin of 5.88% and a return on equity of 10.71%. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 earnings per share.
A number of analysts have recently issued reports on NJR shares. Seaport Global Securities started coverage on shares of New Jersey Resources Corp in a research note on Wednesday, December 21st. They set a “neutral” rating and a $36.00 price objective on the stock. Zacks Investment Research lowered shares of New Jersey Resources Corp from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 11th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $38.25.
In related news, Director Jane M. Kenny sold 3,000 shares of New Jersey Resources Corp stock in a transaction on Friday, February 24th. The shares were sold at an average price of $39.43, for a total value of $118,290.00. Following the completion of the sale, the director now owns 12,031 shares in the company, valued at $474,382.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.50% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of New Jersey Resources Corp by 11.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,951 shares of the utilities provider’s stock worth $104,000 after buying an additional 292 shares during the period. Mosaic Family Wealth LLC raised its stake in shares of New Jersey Resources Corp by 11.9% in the third quarter. Mosaic Family Wealth LLC now owns 3,866 shares of the utilities provider’s stock worth $127,000 after buying an additional 412 shares during the period. Fulton Bank N.A. bought a new stake in shares of New Jersey Resources Corp during the first quarter worth about $214,000. American Economic Planning Group Inc. ADV bought a new stake in shares of New Jersey Resources Corp during the first quarter worth about $215,000. Finally, LS Investment Advisors LLC raised its stake in shares of New Jersey Resources Corp by 7.1% in the third quarter. LS Investment Advisors LLC now owns 5,494 shares of the utilities provider’s stock worth $181,000 after buying an additional 364 shares during the period. Institutional investors and hedge funds own 60.26% of the company’s stock.
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New Jersey Resources Corp (NYSE:NJR) remained flat at $40.05 during trading on Thursday. 353,217 shares of the stock were exchanged. New Jersey Resources Corp has a 12 month low of $30.46 and a 12 month high of $42.65. The firm’s 50-day moving average price is $39.39 and its 200 day moving average price is $36.23. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 29.89 and a beta of 0.43.
The business also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Wednesday, March 15th were paid a $0.255 dividend. The ex-dividend date of this dividend was Monday, March 13th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.55%. New Jersey Resources Corp’s dividend payout ratio (DPR) is presently 76.69%.
New Jersey Resources Corp 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.
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