New Jersey Resources Corp. (NYSE:NJR) announced its earnings results on Thursday. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by $0.03. New Jersey Resources Corp. had a net margin of 5.88% and a return on equity of 11.43%. The business earned $469.24 million during the quarter, compared to analysts’ expectations of $449.98 million. During the same period in the previous year, the company posted $0.05 earnings per share. New Jersey Resources Corp.’s quarterly revenue was up 7.1% on a year-over-year basis. 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 company’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 company also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors 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 yield of 3.12%. The ex-dividend date is Tuesday, December 13th. New Jersey Resources Corp.’s dividend payout ratio is currently 76.80%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Trexquant Investment LP bought a new position in shares of New Jersey Resources Corp. during the second quarter valued at $214,000. Pacer Advisors Inc. bought a new position in shares of New Jersey Resources Corp. during the second quarter valued at $266,000. National Asset Management Inc. raised its position 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 in the last quarter. KCG Holdings Inc. raised 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, Cantab Capital Partners LLP raised its position in New Jersey Resources Corp. by 31.1% in the second quarter. Cantab Capital Partners LLP now owns 9,409 shares of the company’s stock valued at $363,000 after buying an additional 2,231 shares during the period. 60.55% of the stock is owned by institutional investors.

A number of brokerages have recently commented on NJR. Zacks Investment Research raised shares of New Jersey Resources Corp. from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a report on Wednesday. TheStreet cut shares of New Jersey Resources Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 31st. Argus reaffirmed a “buy” rating and issued a $42.00 target price on shares of New Jersey Resources Corp. in a report on Friday, September 16th. Finally, Guggenheim began coverage on shares of New Jersey Resources Corp. in a report on Thursday, November 3rd. They issued a “buy” rating and a $36.00 target price for the company. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company 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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