New Jersey Resources (NYSE:NJR) Posts 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 earned $0.74 EPS. New Jersey Resources updated its FY 2025 guidance to 3.050-3.200 EPS.

New Jersey Resources Trading Up 0.4 %

NJR opened at $48.17 on Tuesday. The company has a market capitalization of $4.81 billion, a P/E ratio of 16.49 and a beta of 0.63. The stock’s fifty day moving average is $47.66 and its two-hundred day moving average is $46.86. The company has a quick ratio of 0.36, a current ratio of 0.62 and a debt-to-equity ratio of 1.31. New Jersey Resources has a 52 week low of $39.44 and a 52 week high of $51.94.

New Jersey Resources Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on New Jersey Resources from $51.00 to $54.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Guggenheim boosted their price target on shares of New Jersey Resources from $46.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. StockNews.com cut New Jersey Resources from a “hold” rating to a “sell” rating in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. reduced their price target on New Jersey Resources from $54.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has given 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.

Insider Activity at New Jersey Resources

In related news, COO Patrick J. Migliaccio sold 4,983 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $46.00, for a total transaction of $229,218.00. Following the completion of the transaction, the chief operating officer now owns 37,124 shares of the company’s stock, valued at approximately $1,707,704. This trade represents a 11.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

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.