NewJersey Resources Corporation (NYSE:NJR) had its target price boosted by Argus from $46.00 to $49.00 in a report issued on Monday morning. They currently have a buy rating on the utilities provider’s stock.

Other research analysts also recently issued reports about the stock. BidaskClub downgraded shares of NewJersey Resources Corporation from a hold rating to a sell rating in a research report on Wednesday, July 12th. Zacks Investment Research raised shares of NewJersey Resources Corporation from a hold rating to a buy rating and set a $45.00 price objective on the stock in a research report on Tuesday, July 11th. Finally, Bank of America Corporation reaffirmed an underperform rating and set a $35.00 price objective (up from $32.00) on shares of NewJersey Resources Corporation in a research report on Friday, May 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. NewJersey Resources Corporation presently has a consensus rating of Buy and an average target price of $40.80.

Shares of NewJersey Resources Corporation (NYSE NJR) opened at 43.35 on Monday. The stock’s 50 day moving average is $42.09 and its 200 day moving average is $40.64. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 19.43 and a beta of 0.47. NewJersey Resources Corporation has a 52-week low of $30.46 and a 52-week high of $44.30.

NewJersey Resources Corporation (NYSE:NJR) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.19. NewJersey Resources Corporation had a net margin of 8.81% and a return on equity of 12.77%. The firm had revenue of $457.52 million for the quarter, compared to the consensus estimate of $410.24 million. During the same period in the previous year, the firm posted $0.13 earnings per share. The firm’s revenue was up 16.4% on a year-over-year basis. On average, equities analysts expect that NewJersey Resources Corporation will post $1.74 earnings per share for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 22nd will be paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, September 21st. NewJersey Resources Corporation’s dividend payout ratio (DPR) is presently 45.74%.

Hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in NewJersey Resources Corporation by 8.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,057 shares of the utilities provider’s stock worth $121,000 after buying an additional 244 shares during the period. Mosaic Family Wealth LLC boosted its stake in NewJersey Resources Corporation by 3.7% in the first quarter. Mosaic Family Wealth LLC now owns 4,116 shares of the utilities provider’s stock worth $163,000 after buying an additional 147 shares during the period. Advisor Group Inc. boosted its stake in NewJersey Resources Corporation by 59.7% in the second quarter. Advisor Group Inc. now owns 4,251 shares of the utilities provider’s stock worth $163,000 after buying an additional 1,589 shares during the period. Flinton Capital Management LLC boosted its stake in NewJersey Resources Corporation by 92.2% in the second quarter. Flinton Capital Management LLC now owns 4,336 shares of the utilities provider’s stock worth $172,000 after buying an additional 2,080 shares during the period. Finally, Riverhead Capital Management LLC boosted its stake in NewJersey Resources Corporation by 93.0% in the second quarter. Riverhead Capital Management LLC now owns 4,826 shares of the utilities provider’s stock worth $192,000 after buying an additional 2,326 shares during the period. Hedge funds and other institutional investors own 64.03% of the company’s stock.

NewJersey Resources Corporation Company Profile

New Jersey Resources Corporation is an energy services holding company. The Company’s business is the distribution of natural gas through a regulated utility, which provides other retail and wholesale energy services to customers and investing in clean energy projects and midstream assets. It operates in four business segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services and Midstream.

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