New Jersey Resources (NYSE:NJR) Issues Quarterly Earnings Results, Beats Expectations By $0.15 EPS

New Jersey Resources (NYSE:NJR - Get Free Report) posted its earnings results on Monday. The utilities provider reported $1.29 EPS for the quarter, topping analysts' consensus estimates 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 posted $0.74 earnings per share. New Jersey Resources updated its FY 2025 guidance to 3.050-3.200 EPS.

New Jersey Resources Stock Performance

NYSE NJR traded down $0.81 during trading hours on Friday, hitting $46.14. 487,635 shares of the company's stock traded hands, compared to its average volume of 559,393. New Jersey Resources has a 52 week low of $40.33 and a 52 week high of $51.94. The firm has a market capitalization of $4.60 billion, a P/E ratio of 15.80 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. The business's fifty day moving average price is $47.32 and its two-hundred day moving average price is $46.88.

New Jersey Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date is Tuesday, March 11th. New Jersey Resources's payout ratio is 61.64%.

Analysts Set New Price Targets

NJR has been the subject of several research analyst reports. Guggenheim lifted their price objective on New Jersey Resources from $53.00 to $54.00 and gave the stock a "neutral" rating in a report on Wednesday. Wells Fargo & Company lifted their price target on shares of New Jersey Resources from $51.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. lowered their price objective on shares of 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, StockNews.com raised shares of New Jersey Resources from a "sell" rating to a "hold" rating in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $51.75.

Insider Transactions at New Jersey Resources

In other news, COO Patrick J. Migliaccio sold 4,983 shares of the firm's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $46.00, for a total value of $229,218.00. Following the transaction, the chief operating officer now owns 37,124 shares of the company's stock, valued at $1,707,704. This trade represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.72% 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.