New Jersey Resources (NYSE: NJR) releases quarterly results, misses expectations of $ 0.01 EPS
New Jersey Resources (NYSE: NJR) announced its quarterly results Thursday. The utility provider announced EPS of $ 0.07 for the quarter, missing Zacks’ consensus estimate of $ 0.08 of $ 0.01, MarketWatch Results reports. The company posted revenue of $ 532.80 million in the quarter, compared to analysts’ estimates of $ 610.33 million. New Jersey Resources had a net margin of 8.02% and a return on equity of 14.52%. New Jersey Resources revenue for the quarter increased 33.2% year-over-year. In the same quarter of the previous year, the company made EPS of $ 0.57. New Jersey Resources has updated its forecast for fiscal 2022 to $ 2,200-2,300 EPS and its FY22 forecast to $ 2.20-2.30 EPS.
NJR stock opened at $ 38.22 on Friday. The stock has a market cap of $ 3.69 billion, a P / E ratio of 22.75, a PEG ratio of 2.43 and a beta of 0.57. The company has a debt to equity ratio of 1.32, a quick ratio of 0.61, and a current ratio of 0.84. New Jersey Resources has a one-year low of $ 32.40 and a one-year high of $ 44.41. The company has a 50-day moving average price of $ 37.13 and a 200-day moving average price of $ 39.45.
The company also recently unveiled a quarterly dividend, which will be paid on Monday, January 3. Shareholders of record on Wednesday, December 15 will receive a dividend of $ 0.363 per share. This represents a dividend of $ 1.45 on an annualized basis and a dividend yield of 3.80%. This is a boost from New Jersey Resources’ previous quarterly dividend of $ 0.33. The ex-dividend date is Tuesday, December 14. New Jersey Resources’ dividend payout ratio (DPR) is 86.31%.
A number of equity research analysts recently commented on the stock. TheStreet downgraded New Jersey Resources stocks from a “b” rating to a “c” rating in a research report released on Tuesday, September 7. Zacks investment research upgraded New Jersey Resources shares from a “sell” rating to a “conservation” rating in a research report released on Wednesday, October 20. One stock research analyst rated the stock with a sell rating, two assigned a conservation rating, and three assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $ 42.60.
An institutional investor recently increased its position in New Jersey Resources shares. UBS Group AG increased its equity stake in New Jersey Resources Co. (NYSE: NJR) by 3.0% in the 3rd quarter, according to its latest 13F filing with the Securities and Exchange Commission. The institutional investor held 65,963 shares of the utility provider after acquiring an additional 1,902 shares during the quarter. UBS Group AG owned approximately 0.07% of New Jersey Resources for a value of $ 2,296,000 when it was last filed with the Securities and Exchange Commission. Hedge funds and other institutional investors hold 69.75% of the company’s shares.
New Jersey Resources Company Profile
New Jersey Resources Corp. is a holding company. The company provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. It operates through the following segments: New Jersey Natural Gas, NJR Clean Energy Ventures, NJR Energy Services, NJR Midstream and NJR Home Services.
See also: Dividend
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