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

New Jersey Resources (NYSE:NJR) posted its earnings results on Monday. The utilities provider reported $1.29 earnings per share for the quarter, beating 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 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 Price Performance

Shares of NYSE:NJR traded up $0.22 on Monday, hitting $48.17. The company had a trading volume of 511,027 shares, compared to its average volume of 548,298. The business has a 50 day moving average of $47.66 and a 200 day moving average of $46.86. New Jersey Resources has a 52-week low of $39.44 and a 52-week high of $51.94. The company has a market cap of $4.81 billion, a PE ratio of 16.49 and a beta of 0.63. The company has a current ratio of 0.62, a quick ratio of 0.36 and a debt-to-equity ratio of 1.31.

New Jersey Resources Announces Dividend

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

Analysts Set New Price Targets

NJR has been the topic of several research reports. StockNews.com lowered New Jersey Resources from a “hold” rating to a “sell” rating in a report on Friday, January 10th. Wells Fargo & Company upped their target price on New Jersey Resources from $51.00 to $54.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. reduced their price objective 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. Finally, Guggenheim upped their price objective on New Jersey Resources from $46.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, New Jersey Resources presently has an average rating of “Hold” and a consensus price target of $50.50.

Insider Buying and Selling

In related news, COO Patrick J. Migliaccio sold 4,983 shares of the stock in a transaction dated 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 directly owns 37,124 shares in the company, valued at approximately $1,707,704. This represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by company insiders.

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.