NewJersey Resources Corporation (NJR) to Issue Quarterly Dividend of $0.48 on January 2nd

NewJersey Resources Corporation (NYSE:NJR) announced a quarterly dividend on Wednesday, November 5th. Shareholders of record on Friday, December 12th will be paid a dividend of 0.475 per share by the utilities provider on Friday, January 2nd. This represents a c) annualized dividend and a yield of 4.2%. The ex-dividend date is Friday, December 12th.

NewJersey Resources has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 29 consecutive years. NewJersey Resources has a payout ratio of 60.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect NewJersey Resources to earn $3.12 per share next year, which means the company should continue to be able to cover its $1.90 annual dividend with an expected future payout ratio of 60.9%.

NewJersey Resources Price Performance

Shares of NewJersey Resources stock opened at $45.20 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.48 and a debt-to-equity ratio of 1.25. NewJersey Resources has a 12 month low of $43.46 and a 12 month high of $51.94. The stock has a 50 day moving average of $46.40 and a 200 day moving average of $46.38. The firm has a market cap of $4.54 billion, a PE ratio of 11.05 and a beta of 0.67.

NewJersey Resources (NYSE:NJR) last issued its quarterly earnings data on Friday, May 19th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter. NewJersey Resources had a return on equity of 17.08% and a net margin of 19.64%.The business had revenue of $912.32 million for the quarter. On average, research analysts expect that NewJersey Resources will post 3.15 EPS for the current fiscal year.

About NewJersey Resources

New Jersey Resources Corporation, an energy services holding company, distributes natural gas. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Storage and Transportation. The Natural Gas Distribution segment offers regulated natural gas utility services to approximately 576,000 customers in Burlington, Middlesex, Monmouth, Morris, Ocean, and Sussex counties in New Jersey; provides capacity and storage management services; and participates in the off-system sales and capacity release markets.