New Jersey Resources (NYSE:NJR) Issues Earnings Results

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

New Jersey Resources Stock Up 0.4 %

NJR stock traded up $0.22 during trading on Monday, reaching $48.17. 511,033 shares of the stock were exchanged, compared to its average volume of 548,325. New Jersey Resources has a twelve month low of $39.44 and a twelve month high of $51.94. The firm’s 50 day moving average is $47.66 and its 200 day moving average is $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 firm has a market cap of $4.81 billion, a P/E ratio of 16.49 and a beta of 0.63.

New Jersey Resources Dividend Announcement

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

Insider Activity at New Jersey Resources

In other New Jersey Resources news, COO Patrick J. Migliaccio sold 4,983 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $46.00, for a total value of $229,218.00. Following the completion of the sale, the chief operating officer now owns 37,124 shares in the company, valued at approximately $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 accessible through the SEC website. 0.72% of the stock is currently owned by insiders.

Analyst Ratings Changes

NJR has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their price target on shares of New Jersey Resources from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Guggenheim lifted their price objective on New Jersey Resources from $46.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Wells Fargo & Company upped their target price on shares of New Jersey Resources from $51.00 to $54.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Finally, StockNews.com downgraded shares of New Jersey Resources from a “hold” rating to a “sell” rating in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.50.

About New Jersey 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.