Brokerages Anticipate New Jersey Resources Corp (NYSE:NJR) Will Announce Earnings of $0.30 Per Share

Brokerages expect that New Jersey Resources Corp (NYSE:NJR) will report $0.30 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have made estimates for New Jersey Resources’ earnings. The lowest EPS estimate is $0.28 and the highest is $0.31. New Jersey Resources reported earnings per share of ($0.33) in the same quarter last year, which would suggest a positive year-over-year growth rate of 190.9%. The firm is expected to announce its next earnings report before the market opens on Tuesday, November 19th.

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On average, analysts expect that New Jersey Resources will report full-year earnings of $1.97 per share for the current fiscal year, with EPS estimates ranging from $1.94 to $1.99. For the next year, analysts forecast that the firm will report earnings of $2.17 per share, with EPS estimates ranging from $2.14 to $2.19. Zacks’ earnings per share averages are an average based on a survey of analysts that cover New Jersey Resources.

NJR has been the topic of a number of research analyst reports. ValuEngine lowered New Jersey Resources from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Zacks Investment Research raised New Jersey Resources from a “sell” rating to a “hold” rating in a report on Wednesday, October 9th. Finally, TheStreet lowered New Jersey Resources from a “b-” rating to a “c+” rating in a report on Thursday, October 17th.

Shares of NJR traded down $0.21 during trading hours on Tuesday, reaching $41.06. 368,009 shares of the company’s stock traded hands, compared to its average volume of 408,716. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of 14.99, a P/E/G ratio of 2.43 and a beta of 0.31. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.88 and a quick ratio of 0.62. New Jersey Resources has a twelve month low of $40.85 and a twelve month high of $51.83. The business’s fifty day simple moving average is $43.80 and its two-hundred day simple moving average is $47.11.

In other news, CEO Laurence M. Downes sold 22,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $45.00, for a total transaction of $990,000.00. Following the transaction, the chief executive officer now directly owns 405,572 shares of the company’s stock, valued at $18,250,740. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in New Jersey Resources by 1.5% during the second quarter. BlackRock Inc. now owns 12,449,830 shares of the utilities provider’s stock worth $619,628,000 after acquiring an additional 180,472 shares during the period. Northern Trust Corp grew its holdings in New Jersey Resources by 2.1% during the second quarter. Northern Trust Corp now owns 1,912,744 shares of the utilities provider’s stock worth $95,198,000 after acquiring an additional 38,876 shares during the period. Wells Fargo & Company MN grew its holdings in New Jersey Resources by 0.4% during the second quarter. Wells Fargo & Company MN now owns 1,266,220 shares of the utilities provider’s stock worth $63,021,000 after acquiring an additional 4,446 shares during the period. Invesco Ltd. grew its holdings in New Jersey Resources by 17.5% during the second quarter. Invesco Ltd. now owns 980,062 shares of the utilities provider’s stock worth $48,778,000 after acquiring an additional 146,311 shares during the period. Finally, First Trust Advisors LP grew its holdings in New Jersey Resources by 23.7% during the third quarter. First Trust Advisors LP now owns 936,680 shares of the utilities provider’s stock worth $42,357,000 after acquiring an additional 179,411 shares during the period. 67.04% of the stock is currently owned by hedge funds and other institutional investors.

About New Jersey Resources

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 Midstream segments. The Natural Gas Distribution segment offers regulated retail natural gas services to approximately 538,700 residential and commercial customers in central and northern New Jersey; provides storage management services; and participates in the off-system sales and capacity release markets.

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