NewJersey Resources Corporation (NYSE:NJR) – Equities research analysts at Seaport Global Securities cut their Q4 2017 EPS estimates for shares of NewJersey Resources Corporation in a research report issued to clients and investors on Thursday. Seaport Global Securities analyst M. Levin now expects that the utilities provider will post earnings of ($0.11) per share for the quarter, down from their previous estimate of $0.23. Seaport Global Securities also issued estimates for NewJersey Resources Corporation’s FY2019 earnings at $1.94 EPS.
NewJersey Resources Corporation (NYSE:NJR) last issued its earnings results on Wednesday, August 2nd. The utilities provider reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.19. The business had revenue of $457.52 million during the quarter, compared to analysts’ expectations of $410.24 million. NewJersey Resources Corporation had a net margin of 8.81% and a return on equity of 12.77%. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 earnings per share.
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Shares of NewJersey Resources Corporation (NYSE NJR) opened at 42.90 on Monday. The firm has a market capitalization of $3.69 billion, a PE ratio of 19.23 and a beta of 0.47. The stock has a 50 day moving average of $41.08 and a 200-day moving average of $39.88. NewJersey Resources Corporation has a 12 month low of $30.46 and a 12 month high of $43.50.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 22nd will be paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, September 21st. NewJersey Resources Corporation’s dividend payout ratio (DPR) is presently 45.74%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in NewJersey Resources Corporation by 1.5% in the second quarter. Victory Capital Management Inc. now owns 597,034 shares of the utilities provider’s stock valued at $23,702,000 after buying an additional 8,895 shares during the period. GAM Holding AG purchased a new position in shares of NewJersey Resources Corporation during the second quarter valued at $595,000. Federated Investors Inc. PA increased its position in shares of NewJersey Resources Corporation by 20.4% in the second quarter. Federated Investors Inc. PA now owns 40,931 shares of the utilities provider’s stock valued at $1,625,000 after buying an additional 6,942 shares during the last quarter. Mosaic Family Wealth LLC increased its position in shares of NewJersey Resources Corporation by 5.9% in the second quarter. Mosaic Family Wealth LLC now owns 4,359 shares of the utilities provider’s stock valued at $173,000 after buying an additional 243 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in shares of NewJersey Resources Corporation by 92.8% in the second quarter. BNP Paribas Arbitrage SA now owns 46,956 shares of the utilities provider’s stock valued at $1,864,000 after buying an additional 22,600 shares during the last quarter. 65.07% of the stock is owned by institutional investors and hedge funds.
NewJersey Resources Corporation 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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