New Jersey Resources Co. (NYSE:NJR - Get Free Report) COO Patrick J. Migliaccio sold 4,983 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $46.00, for a total value of $229,218.00. Following 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 sale was disclosed in a legal filing with the SEC, which is available through this link.
New Jersey Resources Trading Down 0.3 %
Shares of NJR traded down $0.12 during mid-day trading on Thursday, reaching $46.71. The company had a trading volume of 455,625 shares, compared to its average volume of 493,813. New Jersey Resources Co. has a fifty-two week low of $39.44 and a fifty-two week high of $51.94. The firm has a fifty day simple moving average of $47.87 and a 200-day simple moving average of $46.10. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of 16.00 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 (NYSE:NJR - Get Free Report) last announced its quarterly earnings results on Monday, November 25th. The utilities provider reported $0.89 EPS for the quarter, hitting the consensus estimate of $0.89. The company had revenue of $395.78 million during the quarter, compared to analyst estimates of $406.97 million. New Jersey Resources had a return on equity of 13.54% and a net margin of 16.13%. The firm's revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 earnings per share. On average, sell-side analysts anticipate that New Jersey Resources Co. will post 3.1 EPS for the current fiscal year.
New Jersey Resources Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be given a dividend of $0.45 per share. The ex-dividend date is Wednesday, December 11th. This represents a $1.80 dividend on an annualized basis and a yield of 3.85%. New Jersey Resources's dividend payout ratio (DPR) is 61.64%.
Analyst Ratings Changes
Several equities research analysts have issued reports on the stock. StockNews.com raised shares of New Jersey Resources from a "sell" rating to a "hold" rating in a research note on Wednesday, December 4th. Mizuho lifted their target price on shares of New Jersey Resources from $45.00 to $47.00 and gave the stock a "neutral" rating in a research note on Friday, September 20th. Guggenheim increased their price target on New Jersey Resources from $46.00 to $49.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 27th. Wells Fargo & Company raised their price objective 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. Finally, JPMorgan Chase & Co. upgraded New Jersey Resources from a "neutral" rating to an "overweight" rating and upped their target price for the company from $52.00 to $54.00 in a research note on Thursday, December 12th. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, New Jersey Resources currently has a consensus rating of "Moderate Buy" and an average price target of $51.00.
Check Out Our Latest Stock Analysis on NJR
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC purchased a new stake in shares of New Jersey Resources during the third quarter valued at approximately $27,000. FSA Wealth Management LLC acquired a new stake in New Jersey Resources during the 3rd quarter valued at $27,000. Van ECK Associates Corp purchased a new stake in New Jersey Resources during the 3rd quarter worth $52,000. Spirit of America Management Corp NY lifted its holdings in New Jersey Resources by 140.0% in the 3rd quarter. Spirit of America Management Corp NY now owns 1,200 shares of the utilities provider's stock worth $57,000 after buying an additional 700 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in New Jersey Resources in the 2nd quarter valued at about $76,000. 70.98% of the stock is owned by hedge funds and other institutional investors.
About New Jersey Resources
(
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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.
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