Stocks of New Jersey Resources Corporation (NYSE:NJR) traded higher last session on Wall Street, up 1.27% to $42.91.
NJR stock price is now 2.77% away from the 50-day moving average and -0.62% away from the 200-day moving average. The market capitalization of the company currently stands at $4.22B.
With the price target enhanced from $44 to $46, JP Morgan Upgraded its rating from Underweight to Neutral for New Jersey Resources Corporation (NYSE: NJR). On September 09, 2022, JP Morgan Downgraded its previous ‘Neutral’ rating to ‘Underweight’ on the stock reducing its target price from $47 to quote $46, while ‘Mizuho’ rates the stock as ‘Neutral’
In other news, Migliaccio Patrick J., Senior VP and COO, NJNG sold 3,000 shares of the company’s stock on Mar 12 ’24. The stock was sold for $128,130 at an average price of $42.71. Upon completion of the transaction, the Senior VP and COO, NJNG now directly owns 38,886 shares in the company, valued at $1.67 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 21 ’23, Senior VP and COO, NJNG Migliaccio Patrick J. sold 3,579 shares of the business’s stock. A total of $158,514 was realized by selling the stock at an average price of $44.29. This leaves the insider owning 41,886 shares of the company worth $1.8 million. A total of 0.52% of the company’s stock is owned by insiders.
During the past 12 months, New Jersey Resources Corporation has had a low of $38.92 and a high of $55.84. As of last week, the company has a debt-to-equity ratio of 1.64, a current ratio of 0.70, and a quick ratio of 0.47. According to the stock market information, the enterprise value for the company is $7.54B, which is based on a 17.66 price-to-earnings ratio, a 2.94 price-to-earnings-growth ratio, and a beta of 0.65. The fifty day moving average price for NJR is $41.75 and a two-hundred day moving average price translates $43.18 for the stock.
The latest earnings results from New Jersey Resources Corporation (NYSE: NJR) was released for Jun, 2021. According to the Utilities – Regulated Gas Company, earnings per share came in at $0.74, missing analysts’ expectations of $0.75 by -0.01. This compares to $1.19 EPS in the same period last year. The net profit margin was 14.27% and return on equity was 11.94% for NJR. The company reported revenue of $467.21 million for the quarter, compared to $723.57 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -35.43 percent. For the current quarter, analysts expect NJR to generate $670M in revenue.
