New Jersey Resources (NJR) Set to Announce Quarterly Earnings on Thursday

New Jersey Resources (NYSE:NJR – Get Rating) is scheduled to release its earnings data before the market opens on Thursday, May 5th. Analysts expect New Jersey Resources to post earnings of $1.25 per share for the quarter. New Jersey Resources has set its FY22 guidance at $2.20-2.30 EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

New Jersey Resources (NYSE:NJR – Get Rating) last issued its quarterly earnings data on Thursday, February 3rd. The utilities provider reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.10. The firm had revenue of $675.80 million during the quarter, compared to analyst estimates of $537.66 million. New Jersey Resources had a return on equity of 13.36% and a net margin of 6.23%. The business’s quarterly revenue was up 48.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 earnings per share. On average, analysts expect New Jersey Resources to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Shares of New Jersey Resources stock opened at $44.09 on Thursday. The firm has a market cap of $4.24 billion, a price-to-earnings ratio of 28.63, a PEG ratio of 3.33 and a beta of 0.55. The business has a 50-day moving average price of $44.54 and a 200-day moving average price of $41.06. The company has a quick ratio of 0.45, a current ratio of 0.69 and a debt-to-equity ratio of 1.32. New Jersey Resources has a twelve month low of $34.41 and a twelve month high of $47.50.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Wednesday, June 15th will be given a dividend of $0.363 per share. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $1.45 dividend on an annualized basis and a dividend yield of 3.29%. New Jersey Resources’s payout ratio is 94.16%.

A number of brokerages have recently weighed in on NJR. Mizuho lowered New Jersey Resources from a “buy” rating to a “neutral” rating and set a $42.00 price objective for the company. in a research report on Wednesday, January 5th. TheStreet raised shares of New Jersey Resources from a “c+” rating to a “b” rating in a report on Monday, March 7th. Zacks Investment Research raised shares of New Jersey Resources from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Friday, January 7th. Finally, StockNews.com raised shares of New Jersey Resources from a “sell” rating to a “hold” rating in a report on Wednesday, March 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $42.00.

A number of hedge funds and other institutional investors have recently made changes to their positions in NJR. Mackenzie Financial Corp bought a new stake in New Jersey Resources in the fourth quarter worth about $214,000. Public Employees Retirement System of Ohio lifted its stake in New Jersey Resources by 7.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 5,482 shares of the utilities provider’s stock worth $225,000 after purchasing an additional 364 shares during the last quarter. NewEdge Advisors LLC lifted its stake in New Jersey Resources by 5.5% in the fourth quarter. NewEdge Advisors LLC now owns 8,249 shares of the utilities provider’s stock worth $339,000 after purchasing an additional 432 shares during the last quarter. Guggenheim Capital LLC bought a new stake in New Jersey Resources in the fourth quarter worth about $444,000. Finally, Squarepoint Ops LLC bought a new stake in New Jersey Resources in the fourth quarter worth about $875,000. 68.59% of the stock is owned by institutional investors and hedge funds.

New Jersey Resources Company Profile (Get Rating)

New Jersey Resources Corporation, an energy services holding company, provides regulated gas distribution, and retail and wholesale energy services. 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 564,000 residential and commercial customers throughout 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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