New Jersey Resources Corp. (NYSE:NJR) has earned a consensus rating of “Hold” from the eight ratings firms that are covering the firm. Six analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $37.17.

A number of research firms recently weighed in on NJR. Zacks Investment Research upgraded shares of New Jersey Resources Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, October 25th. Guggenheim began coverage on shares of New Jersey Resources Corp. in a research note on Thursday, November 3rd. They set a “buy” rating and a $36.00 target price on the stock. Argus restated a “buy” rating and set a $42.00 target price on shares of New Jersey Resources Corp. in a research note on Friday, September 16th. Finally, TheStreet lowered shares of New Jersey Resources Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 31st.

Institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased 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. Mosaic Family Wealth LLC increased its position in shares of New Jersey Resources Corp. by 11.9% in the third quarter. Mosaic Family Wealth LLC now owns 3,866 shares of the company’s stock worth $127,000 after buying an additional 412 shares during the period. Ameritas Investment Partners Inc. increased its position in shares of 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 worth $1,244,000 after buying an additional 17,660 shares during the period. Verition Fund Management LLC increased its position in shares of New Jersey Resources Corp. by 202.9% in the third quarter. Verition Fund Management LLC now owns 157,766 shares of the company’s stock worth $5,184,000 after buying an additional 105,688 shares during the period. Finally, Robecosam AG increased its position in shares of New Jersey Resources Corp. by 63.4% in the third quarter. Robecosam AG now owns 346,500 shares of the company’s stock worth $11,414,000 after buying an additional 134,500 shares during the period. 60.49% of the stock is owned by hedge funds and other institutional investors.

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New Jersey Resources Corp. (NYSE:NJR) traded down 0.85% during mid-day trading on Wednesday, reaching $35.00. 263,759 shares of the company were exchanged. The stock has a 50-day moving average of $33.19 and a 200 day moving average of $34.88. The firm has a market capitalization of $3.01 billion, a P/E ratio of 23.03 and a beta of 0.38. New Jersey Resources Corp. has a 1-year low of $28.02 and a 1-year high of $38.92.

New Jersey Resources Corp. (NYSE:NJR) last issued its quarterly earnings results on Tuesday, November 22nd. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.03. The business had revenue of $469.24 million for the quarter, compared to analysts’ expectations of $449.98 million. New Jersey Resources Corp. had a return on equity of 11.54% and a net margin of 6.91%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the company earned $0.05 earnings per share. Equities research analysts forecast that New Jersey Resources Corp. will post $1.79 earnings per share for the current year.

The firm 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 $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 2.89%. This is an increase from New Jersey Resources Corp.’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, December 13th. New Jersey Resources Corp.’s dividend payout ratio is 64.43%.

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).

5 Day Chart for NYSE:NJR

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