NewJersey Resources (NYSE:NJR) was downgraded by equities researchers at TheStreet from a “b” rating to a “c+” rating in a note issued to investors on Wednesday, January 3rd.
Other equities analysts also recently issued reports about the company. Janney Montgomery Scott upgraded NewJersey Resources from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 22nd. Guggenheim restated a “buy” rating and issued a $44.00 price objective on shares of NewJersey Resources in a research report on Wednesday, January 3rd. Zacks Investment Research downgraded NewJersey Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Finally, ValuEngine downgraded NewJersey Resources from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. NewJersey Resources presently has a consensus rating of “Hold” and a consensus target price of $44.00.
Shares of NewJersey Resources (NJR) opened at $38.95 on Wednesday. NewJersey Resources has a fifty-two week low of $36.25 and a fifty-two week high of $45.45. The company has a current ratio of 0.72, a quick ratio of 0.46 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $3,390.00, a PE ratio of 25.79, a price-to-earnings-growth ratio of 3.58 and a beta of 0.43.
NewJersey Resources (NYSE:NJR) last released its quarterly earnings results on Tuesday, November 21st. The utilities provider reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.01). NewJersey Resources had a net margin of 5.82% and a return on equity of 11.97%. The company had revenue of $536.50 million for the quarter, compared to the consensus estimate of $480.90 million. During the same period in the prior year, the firm posted ($0.03) EPS. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. equities research analysts expect that NewJersey Resources will post 1.81 EPS for the current fiscal year.
In other news, VP Amanda Mullan sold 920 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $44.64, for a total transaction of $41,068.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lawrence R. Codey sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $43.13, for a total value of $258,780.00. Following the transaction, the director now directly owns 13,266 shares in the company, valued at approximately $572,162.58. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Personal Capital Advisors Corp grew its stake in NewJersey Resources by 28.9% in the fourth quarter. Personal Capital Advisors Corp now owns 29,892 shares of the utilities provider’s stock worth $1,202,000 after purchasing an additional 6,704 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in NewJersey Resources by 4.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 579,358 shares of the utilities provider’s stock worth $23,291,000 after purchasing an additional 24,035 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in NewJersey Resources in the third quarter worth approximately $429,000. GSA Capital Partners LLP bought a new position in NewJersey Resources in the third quarter worth approximately $204,000. Finally, Americafirst Capital Management LLC bought a new position in NewJersey Resources in the third quarter worth approximately $443,000. 63.48% of the stock is currently owned by institutional investors.
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NewJersey Resources Company Profile
New Jersey Resources Corporation is an energy services holding company. The Company’s business is the distribution of natural gas through a regulated utility, which provides other retail and wholesale energy services to customers and investing in clean energy projects and midstream assets. It operates in four business segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services and Midstream.
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