New Jersey Resources (NYSE:NJR) Lowered to “Sell” at StockNews.com

New Jersey Resources (NYSE:NJR) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

Separately, Mizuho lowered their price target on New Jersey Resources from $47.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, February 5th.

New Jersey Resources Trading Up 0.3 %

Shares of New Jersey Resources stock opened at $44.33 on Wednesday. The company’s 50-day moving average price is $42.78 and its 200-day moving average price is $42.66. The company has a current ratio of 0.70, a quick ratio of 0.47 and a debt-to-equity ratio of 1.33. The company has a market cap of $4.36 billion, a price-to-earnings ratio of 18.17 and a beta of 0.62. New Jersey Resources has a 12-month low of $38.92 and a 12-month high of $50.72.

New Jersey Resources (NYSE:NJR) last released its quarterly earnings results on Tuesday, February 6th. The utilities provider reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.15). The firm had revenue of $467.20 million during the quarter, compared to the consensus estimate of $812.66 million. New Jersey Resources had a return on equity of 11.13% and a net margin of 13.96%. The company’s revenue for the quarter was down 35.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.14 EPS. On average, equities analysts expect that New Jersey Resources will post 2.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Fortitude Family Office LLC purchased a new position in New Jersey Resources in the 4th quarter worth approximately $26,000. Parkside Financial Bank & Trust bought a new stake in New Jersey Resources during the 4th quarter valued at $29,000. Headlands Technologies LLC purchased a new stake in New Jersey Resources during the 4th quarter valued at $31,000. Heritage Wealth Advisors bought a new stake in New Jersey Resources in the 4th quarter worth $31,000. Finally, GAMMA Investing LLC purchased a new position in shares of New Jersey Resources in the fourth quarter valued at about $40,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

New Jersey 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.