Published On: Fri, Sep 16th, 2016

New Jersey Resources Corp. (NJR) Receives Buy Rating from Argus

New Jersey Resources Corp. (NYSE:NJR)‘s stock had its “buy” rating reaffirmed by equities research analysts at Argus in a report released on Friday.
Other analysts have also issued research reports about the company. Zacks Investment Research upgraded New Jersey Resources Corp. from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Wednesday, July 13th. TheStreet lowered New Jersey Resources Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 31st. Finally, Wells Fargo & Co. assumed coverage on New Jersey Resources Corp. in a research note on Wednesday, June 1st. They set a “market perform” rating on the stock. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $38.13.
New Jersey Resources Corp. (NYSE:NJR) opened at 32.98 on Friday. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 25.71 and a beta of 0.56. New Jersey Resources Corp. has a 1-year low of $27.64 and a 1-year high of $38.92. The firm has a 50-day moving average price of $34.56 and a 200-day moving average price of $35.77.

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New Jersey Resources Corp. (NYSE:NJR) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by $0.01. The business earned $393.21 million during the quarter, compared to the consensus estimate of $425.99 million. New Jersey Resources Corp. had a net margin of 5.88% and a return on equity of 11.43%. New Jersey Resources Corp.’s quarterly revenue was down 14.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 EPS. On average, analysts expect that New Jersey Resources Corp. will post $1.62 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 23rd will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, September 21st. This represents a $0.96 dividend on an annualized basis and a yield of 2.91%. New Jersey Resources Corp.’s dividend payout ratio (DPR) is presently 76.80%.
A number of institutional investors have recently bought and sold shares of NJR. Walleye Trading LLC bought a new position in New Jersey Resources Corp. during the second quarter worth approximately $142,000. Tower Research Capital LLC TRC bought a new position in New Jersey Resources Corp. during the second quarter worth approximately $163,000. Hallmark Capital Management Inc. bought a new position in New Jersey Resources Corp. during the second quarter worth approximately $179,000. LS Investment Advisors LLC raised its position in New Jersey Resources Corp. by 75.3% in the second quarter. LS Investment Advisors LLC now owns 5,130 shares of the company’s stock worth $198,000 after buying an additional 2,203 shares during the period. Finally, Cypress Wealth Advisors LLC bought a new position in New Jersey Resources Corp. during the first quarter worth approximately $206,000. Hedge funds and other institutional investors own 60.30% of the company’s stock.
New Jersey Resources Corp. Company Profile
New Jersey Resources Corporation (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).

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