New Jersey Resources Corp. (NYSE:NJR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “NJ RESOURCES is an exempt energy svcs holding company providing retail & wholesale natural gas & related energy services to customers from the Gulf Coast to New England. Subsidiaries include: (1) N J Natural Gas Co, a natural gas distribution company that provides regulated energy & appliance services to residential, commercial & industrial customers in central & northern N J. (2) NJR Energy Holdings Corp formerly NJR Energy Svcs Corp & (3) NJR Development Corp, a sub-holding company of NJR, which includes the Company’s remaining unregulated operating subsidiaries. “

NJR has been the topic of a number of other reports. Argus restated a “buy” rating and set a $42.00 price objective on shares of New Jersey Resources Corp. in a report on Monday, June 20th. TheStreet lowered shares of New Jersey Resources Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 31st. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. New Jersey Resources Corp. currently has an average rating of “Hold” and a consensus price target of $36.63.

Analyst Recommendations for New Jersey Resources Corp. (NYSE:NJR)

Shares of New Jersey Resources Corp. (NYSE:NJR) opened at 31.76 on Thursday. New Jersey Resources Corp. has a 12-month low of $28.02 and a 12-month high of $38.92. The company has a market capitalization of $2.74 billion, a PE ratio of 24.75 and a beta of 0.49. The firm’s 50-day moving average is $33.33 and its 200-day moving average is $35.52.

New Jersey Resources Corp. (NYSE:NJR) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by $0.01. The firm had revenue of $393.21 million for the quarter, compared to the consensus estimate of $425.99 million. New Jersey Resources Corp. had a return on equity of 11.43% and a net margin of 5.88%. The company’s revenue for the quarter was down 14.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 earnings per share. On average, equities research analysts anticipate that New Jersey Resources Corp. will post $1.61 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of the stock. National Asset Management Inc. raised its stake in shares of New Jersey Resources Corp. by 0.3% in the second quarter. National Asset Management Inc. now owns 7,246 shares of the company’s stock valued at $280,000 after buying an additional 21 shares during the last quarter. National Planning Corp raised its stake in shares of New Jersey Resources Corp. by 0.9% in the second quarter. National Planning Corp now owns 8,571 shares of the company’s stock valued at $310,000 after buying an additional 78 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of New Jersey Resources Corp. by 1.9% in the second quarter. Public Employees Retirement System of Ohio now owns 5,699 shares of the company’s stock valued at $220,000 after buying an additional 108 shares during the last quarter. State Treasurer State of Michigan raised its stake in shares of New Jersey Resources Corp. by 0.6% in the second quarter. State Treasurer State of Michigan now owns 34,500 shares of the company’s stock valued at $1,330,000 after buying an additional 200 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of New Jersey Resources Corp. by 0.4% in the first quarter. Legal & General Group Plc now owns 61,317 shares of the company’s stock valued at $2,224,000 after buying an additional 245 shares during the last quarter. Hedge funds and other institutional investors own 60.28% of the company’s stock.

About New Jersey Resources Corp.

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).

5 Day Chart for NYSE:NJR

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