New Jersey Resources Co. (NYSE:NJR) Receives $51.29 Average PT from Analysts

New Jersey Resources Co. (NYSE:NJR - Get Free Report) has been given an average rating of "Hold" by the six research firms that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $51.29.

Several equities analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on New Jersey Resources in a research report on Tuesday, April 1st. They issued a "hold" rating and a $51.00 price objective for the company. Wells Fargo & Company boosted their price objective on New Jersey Resources from $51.00 to $53.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Wall Street Zen upgraded New Jersey Resources from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Raymond James assumed coverage on New Jersey Resources in a research report on Friday. They issued an "outperform" rating and a $49.00 price objective for the company. Finally, Mizuho decreased their price objective on New Jersey Resources from $52.00 to $50.00 and set a "neutral" rating for the company in a research report on Thursday, May 15th.

New Jersey Resources Trading Down 0.8%

NYSE:NJR traded down $0.35 on Friday, hitting $44.53. 801,528 shares of the stock were exchanged, compared to its average volume of 547,921. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 13.41 and a beta of 0.62. New Jersey Resources has a 52 week low of $41.68 and a 52 week high of $51.95. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.61 and a current ratio of 0.89. The company's 50-day moving average price is $47.17 and its 200 day moving average price is $47.45.

New Jersey Resources (NYSE:NJR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The utilities provider reported $1.76 EPS for the quarter, beating analysts' consensus estimates of $1.65 by $0.11. The company had revenue of $913.03 million during the quarter, compared to analysts' expectations of $732.00 million. New Jersey Resources had a return on equity of 15.72% and a net margin of 18.25%. New Jersey Resources's revenue was up 38.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.41 EPS. On average, equities research analysts forecast that New Jersey Resources will post 3.15 earnings per share for the current year.

New Jersey Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Tuesday, June 10th. New Jersey Resources's dividend payout ratio is currently 43.69%.

Insider Transactions at New Jersey Resources

In related news, CFO Roberto Bel sold 1,173 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $50.00, for a total value of $58,650.00. Following the sale, the chief financial officer now owns 22,649 shares in the company, valued at approximately $1,132,450. This represents a 4.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.72% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NJR. Rhumbline Advisers increased its position in New Jersey Resources by 0.3% during the 4th quarter. Rhumbline Advisers now owns 352,140 shares of the utilities provider's stock worth $16,427,000 after buying an additional 1,037 shares during the period. Roxbury Financial LLC bought a new position in New Jersey Resources during the 4th quarter worth $25,000. Allworth Financial LP increased its position in New Jersey Resources by 2,052.9% during the 4th quarter. Allworth Financial LP now owns 31,238 shares of the utilities provider's stock worth $1,456,000 after buying an additional 29,787 shares during the period. Kestra Investment Management LLC bought a new position in New Jersey Resources during the 4th quarter worth $497,000. Finally, Atlas Legacy Advisors LLC bought a new position in New Jersey Resources during the 4th quarter worth $314,000. Institutional investors 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.