New Jersey Resources Corp. (NYSE:NJR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “NJ RESOURCES is an exempt energy svcs holding company providing retail & wholesale natural gas & related energy services to customers from the Gulf Coast to New England. Subsidiaries include: (1) N J Natural Gas Co, a natural gas distribution company that provides regulated energy & appliance services to residential, commercial & industrial customers in central & northern N J. (2) NJR Energy Holdings Corp formerly NJR Energy Svcs Corp & (3) NJR Development Corp, a sub-holding company of NJR, which includes the Company’s remaining unregulated operating subsidiaries. “
Several other equities analysts have also commented on NJR. TheStreet lowered shares of New Jersey Resources Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 31st. Argus reaffirmed a “buy” rating and issued a $42.00 price objective on shares of New Jersey Resources Corp. in a research report on Friday, September 16th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $36.63.
New Jersey Resources Corp. (NYSE:NJR) opened at 32.55 on Thursday. New Jersey Resources Corp. has a 52-week low of $28.02 and a 52-week high of $38.92. The firm has a 50 day moving average of $33.23 and a 200-day moving average of $35.47. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 25.37 and a beta of 0.49.
New Jersey Resources Corp. (NYSE:NJR) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by $0.01. New Jersey Resources Corp. had a net margin of 5.88% and a return on equity of 11.43%. The firm earned $393.21 million during the quarter, compared to the consensus estimate of $425.99 million. During the same quarter in the prior year, the business posted $0.03 earnings per share. The firm’s quarterly revenue was down 14.2% on a year-over-year basis. Equities analysts expect that New Jersey Resources Corp. will post $1.61 EPS for the current year.
A number of institutional investors have recently bought and sold shares of NJR. Barclays PLC raised its position in New Jersey Resources Corp. by 9.4% in the first quarter. Barclays PLC now owns 58,147 shares of the company’s stock worth $2,093,000 after buying an additional 4,985 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in New Jersey Resources Corp. by 125.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 135,737 shares of the company’s stock worth $4,945,000 after buying an additional 75,547 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in New Jersey Resources Corp. by 7.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 7,820 shares of the company’s stock worth $285,000 after buying an additional 550 shares in the last quarter. Legal & General Group Plc raised its position in New Jersey Resources Corp. by 0.4% in the first quarter. Legal & General Group Plc now owns 61,317 shares of the company’s stock worth $2,224,000 after buying an additional 245 shares in the last quarter. Finally, AMP Capital Investors Ltd raised its position in New Jersey Resources Corp. by 3.4% in the first quarter. AMP Capital Investors Ltd now owns 48,292 shares of the company’s stock worth $1,755,000 after buying an additional 1,600 shares in the last quarter. 60.28% of the stock is owned by institutional investors.
New Jersey Resources Corp. Company Profile
New Jersey Resources Corporation (NJR) is an energy services holding company that provides retail and wholesale energy services to customers primarily in the Gulf Coast, Mid-Continent, Appalachian, Northeastern, and Western market areas of the United States, as well as Canada. The Company operates within four reportable business segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services and Midstream (formerly Energy Holdings).
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