New Jersey Resources (NYSE:NJR) Issues Quarterly Earnings Results

New Jersey Resources (NYSE:NJR) announced its quarterly earnings results on Monday. The utilities provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.14 by $0.15, RTT News reports. New Jersey Resources had a return on equity of 13.54% and a net margin of 16.13%. During the same quarter last year, the firm earned $0.74 earnings per share. New Jersey Resources updated its FY 2025 guidance to 3.050-3.200 EPS.

New Jersey Resources Stock Up 0.4 %

NYSE NJR traded up $0.22 during mid-day trading on Monday, reaching $48.17. 511,027 shares of the company’s stock traded hands, compared to its average volume of 548,298. New Jersey Resources has a 1-year low of $39.44 and a 1-year high of $51.94. The company has a fifty day simple moving average of $47.66 and a 200-day simple moving average of $46.86. The company has a current ratio of 0.62, a quick ratio of 0.36 and a debt-to-equity ratio of 1.31. The company has a market cap of $4.81 billion, a price-to-earnings ratio of 16.49 and a beta of 0.63.

New Jersey Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, March 11th. This represents a $1.80 dividend on an annualized basis and a yield of 3.74%. New Jersey Resources’s dividend payout ratio (DPR) is presently 61.64%.

Insider Buying and Selling at New Jersey Resources

In other New Jersey Resources news, COO Patrick J. Migliaccio sold 4,983 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $46.00, for a total transaction of $229,218.00. Following the transaction, the chief operating officer now owns 37,124 shares of the company’s stock, valued at $1,707,704. This trade represents a 11.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.72% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Wells Fargo & Company upped their price target on New Jersey Resources from $51.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Guggenheim increased their target price on New Jersey Resources from $46.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. StockNews.com lowered New Jersey Resources from a “hold” rating to a “sell” rating in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. lowered their target price on New Jersey Resources from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $50.50.

New Jersey Resources Company Profile

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.