New Jersey Resources (NJR) – Research Analysts’ Recent Ratings Changes

A number of firms have modified their ratings and price targets on shares of New Jersey Resources (NYSE: NJR) recently:

  • 3/12/2018 – New Jersey Resources was upgraded by analysts at TheStreet from a “c+” rating to a “b+” rating.
  • 3/1/2018 – New Jersey Resources was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 2/27/2018 – New Jersey Resources had its “neutral” rating reaffirmed by analysts at Bank of America Corp.
  • 2/23/2018 – New Jersey Resources had its “buy” rating reaffirmed by analysts at Guggenheim. They now have a $42.00 price target on the stock.
  • 2/13/2018 – New Jersey Resources was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $44.00 price target on the stock. According to Zacks, “New Jersey Resources Corporation is an energy services holding company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses: New Jersey Natural Gas, NJR’s principal subsidiary, operates and maintains the natural gas transportation and distribution infrastructure to serve the customers. NJR Clean Energy Ventures invests in, owns and operates solar and onshore wind projects. NJR Energy Services manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services and customized energy solutions. NJR Midstream serves customers from local distributors and producers to electric generators and wholesale marketers. NJR Home Services provides service contracts as well as heating, central air conditioning, water heaters, standby generators, solar and other indoor and outdoor comfort products. “
  • 2/7/2018 – New Jersey Resources was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “New Jersey Resources Corporation, an energy services holding company, provides regulated gas distribution, and retail and wholesale energy services. The Natural Gas Distribution segment offers regulated retail natural gas services to approximately 521,200 residential and commercial customers in central and northern New Jersey; provides storage management services The Clean Energy Ventures segment invests in commercial and residential solar projects located in New Jersey; and onshore wind projects in Montana, Iowa, Kansas, Wyoming, and Pennsylvania. The Energy Services segment provides unregulated wholesale energy management services to other energy companies and natural gas producers. The Midstream segment invests in natural gas transportation and storage facilities. The Home Services and Other segment offer heating, ventilation, and cooling services; holds and develops commercial real estate properties. “

New Jersey Resources Corp (NYSE:NJR) traded up $0.30 during trading on Friday, reaching $39.75. 492,029 shares of the company traded hands, compared to its average volume of 715,316. The stock has a market cap of $3,464.38, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 2.53 and a beta of 0.35. New Jersey Resources Corp has a one year low of $35.55 and a one year high of $45.45. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 0.74.

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New Jersey Resources (NYSE:NJR) last released its earnings results on Thursday, February 8th. The utilities provider reported $1.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.97. The company had revenue of $705.31 million during the quarter, compared to analyst estimates of $564.47 million. New Jersey Resources had a net margin of 9.08% and a return on equity of 18.96%. The firm’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 EPS. analysts predict that New Jersey Resources Corp will post 2.6 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be issued a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 2.74%. The ex-dividend date is Wednesday, March 14th. New Jersey Resources’s dividend payout ratio is 42.91%.

In related news, VP Patrick J. Migliaccio sold 2,618 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $37.90, for a total value of $99,222.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.50% of the company’s stock.

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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