The price of New Jersey Resources Corporation (NYSE:NJR) shares last traded on Wall Street rose 0.44% to $47.41.
Based on available information, 8 analysts follow New Jersey Resources Corporation (NYSE:NJR). The consensus rating among analysts is ‘Hold’. NJR stock price is now -4.20% away from the 50-day moving average and -2.43% away from the 200-day moving average. The market capitalization of the company currently stands at $4.52B.
Among analysts, 3 rate the stock a hold while 3 rate it a buy.
With the price target reduced from $47 to $46, JP Morgan Downgraded its rating from Neutral to Underweight for New Jersey Resources Corporation (NYSE: NJR).
In other news, Westhoven Stephen D, President & CEO sold 5,000 shares of the company’s stock on May 12. The stock was sold for $250,223 at an average price of $50.04. Upon completion of the transaction, the President & CEO now directly owns 180,372 shares in the company, valued at $8.55 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 07, Senior VP and COO, NJNG Migliaccio Patrick J. sold 2,040 shares of the business’s stock. A total of $104,040 was realized by selling the stock at an average price of $51.00. This leaves the insider owning 38,129 shares of the company worth $1.81 million. Insiders disposed of 55,442 shares of company stock worth roughly $2.63 million over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NJR stock. A new stake in New Jersey Resources Corporation shares was purchased by D. E. SHAW & CO., INC. during the first quarter worth $4,297,000. VERITION FUND MANAGEMENT LLC invested $4,178,000 in shares of NJR during the first quarter. In the first quarter, APTUS CAPITAL ADVISORS, LLC acquired a new stake in New Jersey Resources Corporation valued at approximately $3,036,000. COZAD ASSET MANAGEMENT INC acquired a new stake in NJR for approximately $1,520,000. BALYASNY ASSET MANAGEMENT L.P. purchased a new stake in NJR valued at around $1,166,000 in the second quarter.
A candlestick chart of New Jersey Resources Corporation (NYSE: NJR) showed a price of $47.10 on Monday morning. During the past 12 months, New Jersey Resources Corporation has had a low of $38.07 and a high of $55.84. As of last week, the company has a debt-to-equity ratio of 1.49, a current ratio of 0.90, and a quick ratio of 0.70. According to the stock market information, the enterprise value for the company is $7.67B, which is based on a 15.67 price-to-earnings ratio, a 2.61 price-to-earnings-growth ratio, and a beta of 0.65. The fifty day moving average price for NJR is $49.49 and a two-hundred day moving average price translates $48.59 for the stock.
The latest earnings results from New Jersey Resources Corporation (NYSE: NJR) was released for Mar, 2023. According to the Utilities – Regulated Gas Company, earnings per share came in at $1.16, missing analysts’ expectations of $1.21 by -0.05. This compares to $1.00 EPS in the same period last year. The net profit margin was 10.90% and return on equity was 15.60% for NJR. The company reported revenue of $644.03 million for the quarter, compared to $912.32 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -29.41 percent. For the current quarter, analysts expect NJR to generate $471.97M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/03/2023. Investors who held shares on 06/14/2023 were paid a $0.39 dividend. On an annualized basis, this represents a $1.56 dividend and a 3.29% percent yield. There was an ex-dividend date of 06/13/2023 for this dividend. In terms of dividend payout ratio, NJR is presently at 49.50%.
New Jersey Resources Corporation(NJR) Company Profile
New Jersey Resources Corporation, an energy services holding company, provides regulated gas distribution, and retail and wholesale energy services. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Storage and Transportation. The Natural Gas Distribution segment offers regulated natural gas utility services to approximately 569,300 residential and commercial customers throughout Burlington, Middlesex, Monmouth, Morris, Ocean, and Sussex counties in New Jersey; provides capacity and storage management services; and participates in the off-system sales and capacity release markets. The Clean Energy Ventures segment invests in, owns, and operates commercial and residential solar installation situated in New Jersey, Connecticut, Rhode Island, and New York. The Energy Services segment offers unregulated wholesale energy management services to other energy companies and natural gas producers, as well as maintains and transacts a portfolio of physical assets consisting of natural gas transportation and storage contracts in the United States and Canada. The Storage and Transportation segment invests in natural gas transportation and storage facilities. It provides heating, ventilation, and cooling services; holds commercial real estate properties; and offers solar equipment installation, and plumbing repair and installation services, as well as engages in the water appliance sale, installation, and servicing activities. The company was incorporated in 1981 and is headquartered in Wall, New Jersey.
