New Jersey Resources Corp. (NYSE:NJR) issued its quarterly earnings data on Thursday. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.03. The business had revenue of $469.24 million for the quarter, compared to analyst estimates of $449.98 million. New Jersey Resources Corp. had a return on equity of 11.43% and a net margin of 5.88%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 earnings per share. New Jersey Resources Corp. updated its FY17 guidance to $1.65-1.75 EPS.

New Jersey Resources Corp. (NYSE:NJR) opened at 32.70 on Friday. New Jersey Resources Corp. has a 12-month low of $28.02 and a 12-month high of $38.92. The stock’s 50 day moving average is $32.79 and its 200 day moving average is $35.02. The stock has a market capitalization of $2.82 billion, a PE ratio of 25.49 and a beta of 0.38.

Earnings History for New Jersey Resources Corp. (NYSE:NJR)

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Thursday, December 15th will be issued a dividend of $0.255 per share. This is a boost from New Jersey Resources Corp.’s previous quarterly dividend of $0.24. This represents a $1.02 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Tuesday, December 13th. New Jersey Resources Corp.’s payout ratio is currently 76.80%.

Institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in shares of New Jersey Resources Corp. by 65.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 60,102 shares of the company’s stock worth $1,975,000 after buying an additional 23,684 shares during the period. Ameritas Investment Partners Inc. boosted its position in New Jersey Resources Corp. by 87.4% in the third quarter. Ameritas Investment Partners Inc. now owns 37,871 shares of the company’s stock valued at $1,244,000 after buying an additional 17,660 shares during the period. The Manufacturers Life Insurance Company acquired a new position in New Jersey Resources Corp. during the third quarter valued at $5,688,000. KCG Holdings Inc. boosted its position in New Jersey Resources Corp. by 42.9% in the third quarter. KCG Holdings Inc. now owns 10,712 shares of the company’s stock valued at $352,000 after buying an additional 3,216 shares during the period. Finally, National Asset Management Inc. boosted its position in 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 period. Hedge funds and other institutional investors own 60.55% of the company’s stock.

Several equities analysts have recently issued reports on the company. Guggenheim assumed coverage on New Jersey Resources Corp. in a research report on Thursday, November 3rd. They set a “buy” rating and a $36.00 price objective for the company. Zacks Investment Research upgraded New Jersey Resources Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, October 25th. TheStreet downgraded New Jersey Resources Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 31st. Finally, Argus reissued a “buy” rating and set a $42.00 target price on shares of New Jersey Resources Corp. in a report on Friday, September 16th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. New Jersey Resources Corp. presently has a consensus rating of “Hold” and a consensus price target of $37.10.

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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