New Jersey Resources Corp (NJR) Expected to Post Earnings of $1.17 Per Share

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Wall Street analysts expect New Jersey Resources Corp (NYSE:NJR) to announce earnings of $1.17 per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for New Jersey Resources’ earnings, with the highest EPS estimate coming in at $1.30 and the lowest estimate coming in at $1.03. New Jersey Resources posted earnings per share of $1.62 in the same quarter last year, which would indicate a negative year-over-year growth rate of 27.8%. The company is scheduled to issue its next earnings report on Friday, May 3rd.

On average, analysts expect that New Jersey Resources will report full-year earnings of $2.01 per share for the current financial year, with EPS estimates ranging from $2.00 to $2.01. For the next fiscal year, analysts anticipate that the company will post earnings of $2.16 per share, with EPS estimates ranging from $2.12 to $2.22. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for New Jersey Resources.

New Jersey Resources (NYSE:NJR) last released its earnings results on Wednesday, February 6th. The utilities provider reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.08). The company had revenue of $811.77 million for the quarter, compared to analysts’ expectations of $712.00 million. New Jersey Resources had a net margin of 6.49% and a return on equity of 10.92%. New Jersey Resources’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.56 earnings per share.

A number of equities research analysts recently weighed in on NJR shares. Zacks Investment Research cut shares of New Jersey Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, October 17th. Guggenheim cut shares of New Jersey Resources from a “neutral” rating to a “sell” rating in a research report on Monday, January 7th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. New Jersey Resources has an average rating of “Hold” and an average price target of $48.00.

NYSE NJR traded down $0.60 on Monday, hitting $45.35. 622,528 shares of the company traded hands, compared to its average volume of 523,205. The company has a market capitalization of $4.08 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 3.27 and a beta of 0.32. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.79 and a current ratio of 1.05. New Jersey Resources has a 52-week low of $37.35 and a 52-week high of $51.83.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be given a $0.2925 dividend. The ex-dividend date is Thursday, March 14th. This represents a $1.17 dividend on an annualized basis and a yield of 2.58%. New Jersey Resources’s dividend payout ratio (DPR) is presently 42.70%.

In related news, Director M William Howard, Jr. sold 1,000 shares of the business’s stock in a transaction on Wednesday, January 9th. The shares were sold at an average price of $45.54, for a total value of $45,540.00. Following the completion of the sale, the director now directly owns 14,060 shares of the company’s stock, valued at $640,292.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 3,000 shares of company stock valued at $138,080. 1.30% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in New Jersey Resources by 4.5% in the fourth quarter. BlackRock Inc. now owns 12,547,617 shares of the utilities provider’s stock valued at $573,052,000 after purchasing an additional 539,323 shares during the period. Vanguard Group Inc. increased its stake in New Jersey Resources by 1.1% in the third quarter. Vanguard Group Inc. now owns 9,135,967 shares of the utilities provider’s stock valued at $421,169,000 after purchasing an additional 96,027 shares during the period. Vanguard Group Inc increased its stake in New Jersey Resources by 1.1% in the third quarter. Vanguard Group Inc now owns 9,135,967 shares of the utilities provider’s stock valued at $421,169,000 after purchasing an additional 96,027 shares during the period. Dimensional Fund Advisors LP increased its stake in New Jersey Resources by 3.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,846,347 shares of the utilities provider’s stock valued at $85,113,000 after purchasing an additional 58,636 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in New Jersey Resources by 4,467.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,577,259 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 1,542,723 shares during the period. Institutional investors own 67.72% of the company’s stock.

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.

See Also: Hedge Funds

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