NewJersey Resources Corporation (NYSE:NJR) Declares Dividend Increase - $0.50 Per Share

Key Points

• NewJersey Resources raised its quarterly dividend 5.3% to $0.50 per share from $0.47. Shareholders of record on September 24 will be paid on October 1, with the stock offering a 3.7% annualized yield.
• The company has increased its dividend for 29 consecutive years. Its 60.9% payout ratio indicates the dividend is currently supported by earnings, while analysts project a future payout ratio of 55.4%.
• NewJersey Resources exceeded quarterly expectations, reporting $0.11 in adjusted EPS versus the $0.06 consensus estimate and $349.18 million in revenue, up 16.8% year over year.

NewJersey Resources Corporation (NYSE:NJR - Get Free Report) declared a quarterly dividend on Thursday, September 10th. Stockholders of record on Thursday, September 24th will be paid a dividend of 0.50 per share by the utilities provider on Thursday, October 1st. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Thursday, September 24th. This is a 5.3% increase from NewJersey Resources's previous quarterly dividend of $0.47.

NewJersey Resources has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 29 consecutive years. NewJersey Resources has a payout ratio of 60.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect NewJersey Resources to earn $3.43 per share next year, which means the company should continue to be able to cover its $1.90 annual dividend with an expected future payout ratio of 55.4%.

NewJersey Resources Stock Performance

NewJersey Resources stock opened at $53.34 on Friday. The firm's fifty day moving average price is $56.21 and its 200-day moving average price is $55.73. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.45 and a current ratio of 0.66. The stock has a market cap of $5.41 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 2.98 and a beta of 0.50. NewJersey Resources has a fifty-two week low of $43.46 and a fifty-two week high of $60.86.

NewJersey Resources (NYSE:NJR - Get Free Report) last announced its earnings results on Monday, August 3rd. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. The company had revenue of $349.18 million during the quarter, compared to analyst estimates of $342.13 million. NewJersey Resources had a net margin of 16.42% and a return on equity of 14.46%. The firm's quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.15) earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. On average, equities research analysts expect that NewJersey Resources will post 3.59 earnings per share for the current fiscal year.

About NewJersey Resources

New Jersey Resources Corporation NYSE: NJR is an energy services holding company based in Wall, New Jersey. Through its subsidiaries, the company provides regulated natural gas distribution, energy management, wholesale energy services, renewable energy development, and natural gas storage and transportation solutions.

Its principal subsidiary, New Jersey Natural Gas, operates a regulated natural gas utility serving residential, commercial, and industrial customers in central and northern New Jersey.

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