New Jersey Resources Co. (NYSE:NJR – Get Free Report) has been given an average recommendation of “Moderate Buy” by the four brokerages that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $49.00.
Several equities analysts have commented on the stock. Mizuho raised their target price on shares of New Jersey Resources from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Wells Fargo & Company boosted their target price on New Jersey Resources from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on New Jersey Resources from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Guggenheim boosted their price objective on New Jersey Resources from $46.00 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, StockNews.com cut New Jersey Resources from a “hold” rating to a “sell” rating in a research note on Tuesday.
Get Our Latest Stock Analysis on New Jersey Resources
Hedge Funds Weigh In On New Jersey Resources
New Jersey Resources Trading Down 1.5 %
NYSE:NJR opened at $50.71 on Wednesday. New Jersey Resources has a 1 year low of $39.44 and a 1 year high of $51.80. The business has a fifty day moving average of $47.04 and a 200-day moving average of $45.38. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.41 and a current ratio of 0.60. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 17.37 and a beta of 0.59.
New Jersey Resources Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be given a dividend of $0.45 per share. The ex-dividend date is Wednesday, December 11th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.55%. New Jersey Resources’s dividend payout ratio (DPR) is presently 61.64%.
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.
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