Shares of New Jersey Resources Corp (NYSE:NJR) have earned an average broker rating score of 2.40 (Buy) from the five analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a strong buy recommendation on the company.
Analysts have set a 12 month consensus price target of $30.33 for the company and are expecting that the company will post $0.60 earnings per share for the current quarter, according to Zacks. Zacks has also given New Jersey Resources Corp an industry rank of 82 out of 265 based on the ratings given to related companies.
A hedge fund recently bought a new stake in New Jersey Resources Corp stock. Hillcrest Asset Management bought a new stake in shares of New Jersey Resources Corp (NYSE:NJR) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 235,022 shares of the company’s stock, valued at approximately $7,058,000. New Jersey Resources Corp makes up about 2.3% of Hillcrest Asset Management’s holdings, making the stock its 15th largest position. Hillcrest Asset Management owned 0.27% of New Jersey Resources Corp as of its most recent SEC filing.
Shares of New Jersey Resources Corp (NYSE:NJR) opened at 32.96 on Monday. New Jersey Resources Corp has a 52 week low of $26.77 and a 52 week high of $34.07. The firm has a 50-day moving average of $30.50 and a 200 day moving average of $29.40. The firm has a market capitalization of $2.83 billion and a price-to-earnings ratio of 15.70.
New Jersey Resources Corp (NYSE:NJR) last posted its quarterly earnings data on Tuesday, November 24th. The company reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.02. The firm earned $438.30 million during the quarter, compared to the consensus estimate of $611.33 million. During the same period in the prior year, the company posted ($0.23) earnings per share. The company’s revenue for the quarter was down 26.0% compared to the same quarter last year. On average, equities analysts predict that New Jersey Resources Corp will post $1.66 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 15th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Friday, December 11th.
A number of equities research analysts have recently commented on NJR shares. Zacks Investment Research lowered shares of New Jersey Resources Corp from a “hold” rating to a “sell” rating in a research note on Tuesday, December 8th. Janney Montgomery Scott reduced their price objective on shares of New Jersey Resources Corp from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Monday, November 30th.
New Jersey Resources Corporation (NYSE: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). The Natural Gas Distribution segment consists of regulated energy and off-system, capacity and storage management operations. The Clean Energy Ventures segment consists of capital investments in clean energy projects. The Energy Services segment consists of unregulated wholesale energy operations. Lastly, the Midstream segment consists of investments in the midstream natural gas market, such as natural gas transportation and storage facilities.
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