NewJersey Resources (NYSE:NJR - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.
A number of other research firms have also issued reports on NJR. Weiss Ratings reissued a "hold (c)" rating on shares of NewJersey Resources in a report on Wednesday. Raymond James Financial reissued an "outperform" rating and issued a $50.00 target price (up previously from $49.00) on shares of NewJersey Resources in a report on Friday, August 8th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $51.43.
Read Our Latest Stock Report on NJR
NewJersey Resources Trading Down 0.8%
NJR opened at $45.65 on Friday. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 11.16 and a beta of 0.64. NewJersey Resources has a 52 week low of $43.80 and a 52 week high of $51.94. The business's 50 day moving average is $46.99 and its two-hundred day moving average is $46.77. The company has a quick ratio of 0.48, a current ratio of 0.76 and a debt-to-equity ratio of 1.25.
NewJersey Resources (NYSE:NJR - Get Free Report) last released its quarterly earnings results on Friday, May 19th. The utilities provider reported $1.36 EPS for the quarter. The company had revenue of $912.32 million for the quarter. NewJersey Resources had a return on equity of 17.08% and a net margin of 19.64%. On average, research analysts predict that NewJersey Resources will post 3.15 EPS for the current year.
Institutional Trading of NewJersey Resources
Institutional investors have recently modified their holdings of the business. Cullen Frost Bankers Inc. boosted its position in NewJersey Resources by 153.0% during the second quarter. Cullen Frost Bankers Inc. now owns 754 shares of the utilities provider's stock worth $34,000 after purchasing an additional 456 shares in the last quarter. Crews Bank & Trust purchased a new stake in NewJersey Resources during the first quarter worth $37,000. Hexagon Capital Partners LLC boosted its position in NewJersey Resources by 42.0% during the first quarter. Hexagon Capital Partners LLC now owns 839 shares of the utilities provider's stock worth $41,000 after purchasing an additional 248 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in NewJersey Resources by 259.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,203 shares of the utilities provider's stock worth $54,000 after purchasing an additional 868 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in NewJersey Resources during the second quarter worth $54,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.
About NewJersey Resources
(
Get Free Report)
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.
Further Reading
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