New Jersey Resources (NYSE:NJR) Posts Earnings Results, Beats Expectations By $0.11 EPS

New Jersey Resources (NYSE:NJR - Get Free Report) issued its quarterly earnings data on Monday. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.65 by $0.11, Zacks reports. New Jersey Resources had a net margin of 18.25% and a return on equity of 15.72%. The firm had revenue of $913.03 million during the quarter, compared to analysts' expectations of $732.00 million. During the same period last year, the company earned $1.41 earnings per share. The business's revenue was up 38.8% on a year-over-year basis. New Jersey Resources updated its FY 2025 guidance to 3.150-3.300 EPS.

New Jersey Resources Stock Performance

NYSE NJR traded down $0.69 during trading on Friday, hitting $47.29. 648,323 shares of the company's stock traded hands, compared to its average volume of 536,711. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 14.24 and a beta of 0.66. 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 business has a 50 day moving average of $48.60 and a 200-day moving average of $47.81. New Jersey Resources has a 12-month low of $41.58 and a 12-month high of $51.95.

New Jersey Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date is Tuesday, June 10th. New Jersey Resources's dividend payout ratio is currently 54.22%.

Insider Activity

In other news, CFO Roberto Bel sold 1,173 shares of New Jersey Resources 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 completion of the transaction, the chief financial officer now directly owns 22,649 shares in the company, valued at approximately $1,132,450. The trade was a 4.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.72% of the company's stock.

Analysts Set New Price Targets

NJR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on New Jersey Resources from $54.00 to $52.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. Wells Fargo & Company raised their target price on New Jersey Resources from $51.00 to $53.00 and gave the company an "equal weight" rating in a research report on Wednesday. StockNews.com downgraded shares of New Jersey Resources from a "hold" rating to a "sell" rating in a report on Tuesday. Guggenheim raised their price objective on shares of New Jersey Resources from $53.00 to $54.00 and gave the stock a "neutral" rating in a report on Wednesday, February 5th. Finally, Jefferies Financial Group began coverage on shares of New Jersey Resources in a research report on Tuesday, April 1st. They issued a "hold" rating and a $51.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $51.33.

New Jersey Resources Company Profile

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.