New Jersey Resources - NJR Stock Forecast, Price & News

3 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for New Jersey Resources in the last year. There are currently 1 sell rating and 2 hold ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" NJR shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in NJR, but not buy additional shares or sell existing shares.
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3 Wall Street analysts have issued twelve-month target prices for New Jersey Resources' stock. Their NJR share price forecasts range from $40.00 to $50.00. On average, they expect the company's share price to reach $45.50 in the next year. This suggests that the stock has a possible downside of 13.2%.
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New Jersey Resources' stock was trading at $49.62 on January 1st, 2023. Since then, NJR shares have increased by 5.6% and is now trading at $52.40.
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New Jersey Resources saw a decrease in short interest during the month of December. As of December 30th, there was short interest totaling 3,180,000 shares, a decrease of 18.0% from the December 15th total of 3,880,000 shares. Based on an average daily trading volume, of 605,800 shares, the days-to-cover ratio is currently 5.2 days. Approximately 3.3% of the shares of the company are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, May 4th 2023.
View our NJR earnings forecast.

New Jersey Resources Co. (NYSE:NJR) announced its quarterly earnings data on Thursday, February, 2nd. The utilities provider reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.35. The utilities provider had revenue of $723.60 million for the quarter, compared to analysts' expectations of $696.78 million. New Jersey Resources had a trailing twelve-month return on equity of 15.62% and a net margin of 9.46%. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.69 EPS.

New Jersey Resources declared a quarterly dividend on Wednesday, January 25th. Stockholders of record on Wednesday, March 15th will be paid a dividend of $0.39 per share on Monday, April 3rd. This represents a $1.56 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Tuesday, March 14th.
Read our dividend analysis for NJR.

New Jersey Resources (NYSE:NJR) pays an annual dividend of $1.56 per share and currently has a dividend yield of 2.94%. The company has been increasing its dividend for 27 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 53.98%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, NJR will have a dividend payout ratio of 58.21% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for NJR.

New Jersey Resources shares split on Wednesday, March 4th 2015. The 2-1 split was announced on Wednesday, January 21st 2015. The newly created shares were payable to shareholders after the market closes on Tuesday, March 3rd 2015. An investor that had 100 shares of stock prior to the split would have 200 shares after the split.

New Jersey Resources updated its FY 2023 earnings guidance on Sunday, February, 5th. The company provided earnings per share (EPS) guidance of $2.62-$2.72 for the period, compared to the consensus EPS estimate of $2.49. The company issued revenue guidance of -.

10 employees have rated New Jersey Resources Chief Executive Officer Laurence M. Downes on Glassdoor.com. Laurence M. Downes has an approval rating of 100% among the company's employees. This puts Laurence M. Downes in the top 10% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other New Jersey Resources investors own include Energy Transfer (ET), CBL & Associates Properties (CBL), Ford Motor (F), AT&T (T), Cornerstone Total Return Fund (CRF), SandRidge Permian Trust (PER), Cornerstone Strategic Value Fund (CLM), Martin Midstream Partners (MMLP), NGL Energy Partners (NGL) and SunCoke Energy Partners (SXCP).

New Jersey Resources trades on the New York Stock Exchange (NYSE) under the ticker symbol "NJR."

New Jersey Resources' stock is owned by many different retail and institutional investors. Top institutional investors include ProShare Advisors LLC (1.02%), Confluence Investment Management LLC (0.46%), Keystone Financial Planning Inc. (0.16%), Janney Montgomery Scott LLC (0.16%), Hennessy Advisors Inc. (0.14%) and Mattern Capital Management LLC (0.13%). Insiders that own company stock include Donald L Correll, James H Degraffenreidt Jr, M William Howard Jr, Patrick J Migliaccio, Patrick J Migliaccio and Timothy F Shea.
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Shares of NJR stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of NJR stock can currently be purchased for approximately $52.40.

New Jersey Resources (NYSE:NJR) has a market capitalization of $5.08 billion and generates $2.91 billion in revenue each year. The utilities provider earns $274.92 million in net income (profit) each year or $2.89 on an earnings per share basis.

The company employs 1,288 workers across the globe.

New Jersey Resources' mailing address is 1415 Wyckoff Road, WALL TOWNSHIP NJ, 07719. The official website for the company is www.njresources.com. The utilities provider can be reached via phone at (732) 938-1000, via email at dpuma@njresources.com, or via fax at 732-938-3154.