NewJersey Resources Corporation (NYSE:NJR – Get Free Report) announced a quarterly dividend on Wednesday, November 11th. Investors of record on Monday, December 14th will be given a dividend of $0.50 per share by the utilities provider on Monday, January 4th. This represents a $2.00 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Monday, December 14th.
NewJersey Resources has raised its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 29 years. NewJersey Resources has a payout ratio of 64.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect NewJersey Resources to earn $3.43 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 58.3%.
NewJersey Resources Stock Performance
NewJersey Resources stock opened at $54.83 on Thursday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.66 and a quick ratio of 0.45. The firm has a market capitalization of $5.56 billion, a P/E ratio of 15.15, a price-to-earnings-growth ratio of 3.19 and a beta of 0.45. NewJersey Resources has a 1-year low of $44.51 and a 1-year high of $60.86. The company’s 50-day moving average is $52.68 and its 200 day moving average is $54.65.
About NewJersey Resources
New Jersey Resources Corporation is an energy services holding company headquartered in Wall, New Jersey. Through its subsidiaries, it distributes natural gas, provides energy-related services, and develops and operates clean energy and infrastructure assets. Its utility subsidiary, New Jersey Natural Gas, delivers natural gas to residential, commercial, and industrial customers in New Jersey. The company also provides natural gas supply and energy management services, operates natural gas storage and transportation assets, and offers home services such as heating, cooling, plumbing, and appliance repair.
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