New Jersey Resources Co. (NJR) to Issue Quarterly Dividend of $0.42 on July 1st

New Jersey Resources Co. (NYSE:NJRGet Free Report) declared a quarterly dividend on Thursday, April 18th, Zacks reports. Shareholders of record on Wednesday, June 12th will be paid a dividend of 0.42 per share by the utilities provider on Monday, July 1st. This represents a $1.68 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend is Wednesday, June 12th.

New Jersey Resources has raised its dividend by an average of 7.9% annually over the last three years. New Jersey Resources has a payout ratio of 59.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect New Jersey Resources to earn $2.88 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 58.3%.

New Jersey Resources Stock Down 0.4 %

Shares of NYSE NJR opened at $43.29 on Monday. New Jersey Resources has a 52 week low of $38.92 and a 52 week high of $50.66. The business has a 50-day simple moving average of $43.32 and a two-hundred day simple moving average of $42.92. The company has a quick ratio of 0.56, a current ratio of 0.70 and a debt-to-equity ratio of 1.25. The company has a market cap of $4.28 billion, a P/E ratio of 17.11 and a beta of 0.61.

New Jersey Resources (NYSE:NJRGet Free Report) last issued its earnings results on Tuesday, May 7th. The utilities provider reported $1.40 EPS for the quarter, topping the consensus estimate of $1.32 by $0.08. New Jersey Resources had a return on equity of 12.16% and a net margin of 14.46%. The business had revenue of $657.91 million during the quarter, compared to the consensus estimate of $669.64 million. Research analysts anticipate that New Jersey Resources will post 2.94 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Stephen D. Westhoven sold 20,000 shares of New Jersey Resources stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $42.82, for a total transaction of $856,400.00. Following the completion of the sale, the chief executive officer now owns 198,705 shares in the company, valued at approximately $8,508,548.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

Separately, upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Thursday, May 16th.

Read Our Latest Analysis on NJR

New Jersey Resources Company Profile

(Get Free Report)

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.

Further Reading

Dividend History for New Jersey Resources (NYSE:NJR)

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