New Jersey Resources Corp (NYSE:NJR) Director David A. Trice sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $49.74, for a total transaction of $596,880.00. Following the sale, the director now owns 11,585 shares in the company, valued at $576,237.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
NJR traded down $0.04 on Friday, reaching $49.81. The company’s stock had a trading volume of 463,371 shares, compared to its average volume of 419,294. The company has a quick ratio of 0.91, a current ratio of 1.04 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 3.54 and a beta of 0.33. New Jersey Resources Corp has a fifty-two week low of $40.28 and a fifty-two week high of $51.83.
New Jersey Resources (NYSE:NJR) last announced its quarterly earnings results on Friday, May 3rd. The utilities provider reported $1.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.08. The firm had revenue of $866.26 million during the quarter, compared to the consensus estimate of $1.01 billion. New Jersey Resources had a return on equity of 8.73% and a net margin of 4.51%. The firm’s quarterly revenue was down 15.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.62 earnings per share. On average, equities analysts anticipate that New Jersey Resources Corp will post 2 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Friday, June 14th. New Jersey Resources’s dividend payout ratio (DPR) is 42.70%.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in New Jersey Resources by 16.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 445,411 shares of the utilities provider’s stock valued at $20,533,000 after purchasing an additional 63,931 shares during the period. Teachers Advisors LLC grew its holdings in New Jersey Resources by 0.8% during the third quarter. Teachers Advisors LLC now owns 661,663 shares of the utilities provider’s stock worth $30,503,000 after purchasing an additional 5,290 shares during the period. Morgan Stanley grew its holdings in New Jersey Resources by 10.8% during the third quarter. Morgan Stanley now owns 416,068 shares of the utilities provider’s stock worth $19,182,000 after purchasing an additional 40,722 shares during the period. Vanguard Group Inc grew its holdings in New Jersey Resources by 1.1% during the third quarter. Vanguard Group Inc now owns 9,135,967 shares of the utilities provider’s stock worth $421,169,000 after purchasing an additional 96,027 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its holdings in New Jersey Resources by 6.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 12,813 shares of the utilities provider’s stock worth $585,000 after purchasing an additional 730 shares during the period. 66.83% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research upgraded shares of New Jersey Resources from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Tuesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $50.00.
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New Jersey Resources 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 Midstream segments. The Natural Gas Distribution segment offers regulated retail natural gas services to approximately 538,700 residential and commercial customers in central and northern New Jersey; provides storage management services; and participates in the off-system sales and capacity release markets.
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