New Jersey Resources Co. (NYSE:NJR) Given Average Recommendation of "Moderate Buy" by Brokerages

New Jersey Resources Co. (NYSE:NJR - Get Free Report) has received a consensus rating of "Moderate Buy" from the five research firms that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $51.00.

A number of research firms recently commented on NJR. 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 report on Wednesday, November 27th. Wells Fargo & Company raised their target price on New Jersey Resources from $51.00 to $54.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 27th. Mizuho upped their price target on shares of New Jersey Resources from $45.00 to $47.00 and gave the stock a "neutral" rating in a research report on Friday, September 20th. JPMorgan Chase & Co. upgraded shares of New Jersey Resources from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $52.00 to $54.00 in a research report on Thursday, December 12th. Finally, StockNews.com upgraded shares of New Jersey Resources from a "sell" rating to a "hold" rating in a research report on Wednesday, December 4th.

New Jersey Resources Price Performance

Shares of NYSE NJR traded up $0.48 during midday trading on Friday, reaching $46.51. 1,413,071 shares of the company traded hands, compared to its average volume of 495,647. New Jersey Resources has a 12 month low of $39.44 and a 12 month high of $51.94. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.36 and a current ratio of 0.62. The stock's 50-day simple moving average is $47.88 and its 200-day simple moving average is $46.05. The firm has a market cap of $4.64 billion, a PE ratio of 15.93 and a beta of 0.63.

New Jersey Resources (NYSE:NJR - Get Free Report) last announced its quarterly earnings results on Monday, November 25th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.89. The firm had revenue of $395.78 million during the quarter, compared to the consensus estimate of $406.97 million. New Jersey Resources had a net margin of 16.13% and a return on equity of 13.54%. The firm's quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the firm posted $0.30 EPS. As a group, equities analysts anticipate that New Jersey Resources will post 3.1 earnings per share for the current fiscal year.

New Jersey Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.87%. The ex-dividend date is Wednesday, December 11th. New Jersey Resources's payout ratio is 61.64%.

Hedge Funds Weigh In On New Jersey Resources

Several hedge funds have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new position in shares of New Jersey Resources during the third quarter worth $27,000. FSA Wealth Management LLC acquired a new stake in New Jersey Resources during the 3rd quarter worth $27,000. Van ECK Associates Corp bought a new position in New Jersey Resources during the third quarter worth about $52,000. Spirit of America Management Corp NY grew its stake in New Jersey Resources by 140.0% in the third quarter. Spirit of America Management Corp NY now owns 1,200 shares of the utilities provider's stock valued at $57,000 after acquiring an additional 700 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in shares of New Jersey Resources in the second quarter worth about $76,000. Institutional investors and hedge funds own 70.98% of the company's stock.

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.