NewJersey Resources (NYSE:NJR) Receives "Hold (C)" Rating from Weiss Ratings

Key Points

• NewJersey Resources (NYSE:NJR) has received a "hold (C)" rating from Weiss Ratings, along with recent upgrades from analysts, including a raise from "sell" to "hold" by Wall Street Zen.
• The stock's average consensus price target is currently $51.43, with a recent trading price of $46.54 and a 12-month trading range between $43.80 and $51.94.
• NewJersey Resources reported $0.06 EPS for the last quarter, surpassing analysts' expectations, and had an 8.5% year-over-year revenue increase, totaling $298.95 million.

NewJersey Resources (NYSE:NJR - Get Free Report)'s stock had its "hold (c)" rating reiterated by research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Several other analysts also recently issued reports on the stock. Wall Street Zen raised shares of NewJersey Resources from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Raymond James Financial reaffirmed an "outperform" rating and set a $50.00 price target (up previously from $49.00) on shares of NewJersey Resources in a research note 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. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $51.43.

NewJersey Resources Trading Up 0.1%

NJR stock traded up $0.06 during midday trading on Wednesday, hitting $46.54. The stock had a trading volume of 50,759 shares, compared to its average volume of 619,655. The company's 50-day moving average price is $46.99 and its 200 day moving average price is $46.81. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.76 and a quick ratio of 0.48. The firm has a market cap of $4.67 billion, a PE ratio of 11.38 and a beta of 0.64. NewJersey Resources has a 12-month low of $43.80 and a 12-month high of $51.94.

NewJersey Resources (NYSE:NJR - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The utilities provider reported $0.06 EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.12. NewJersey Resources had a return on equity of 17.08% and a net margin of 19.64%.The business had revenue of $298.95 million during the quarter, compared to the consensus estimate of $305.05 million. During the same quarter in the previous year, the business earned ($0.09) earnings per share. The business's revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities research analysts predict that NewJersey Resources will post 3.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NJR. Wealth Enhancement Advisory Services LLC grew its holdings in NewJersey Resources by 8.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,228 shares of the utilities provider's stock valued at $551,000 after purchasing an additional 881 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of NewJersey Resources by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 232,427 shares of the utilities provider's stock worth $11,403,000 after purchasing an additional 4,770 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of NewJersey Resources by 27.4% during the first quarter. GAMMA Investing LLC now owns 2,915 shares of the utilities provider's stock valued at $143,000 after acquiring an additional 627 shares during the period. Farther Finance Advisors LLC increased its stake in shares of NewJersey Resources by 83.7% in the first quarter. Farther Finance Advisors LLC now owns 1,859 shares of the utilities provider's stock valued at $91,000 after purchasing an additional 847 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in shares of NewJersey Resources by 3.8% during the first quarter. State of Alaska Department of Revenue now owns 11,741 shares of the utilities provider's stock valued at $576,000 after purchasing an additional 430 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

NewJersey 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.

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