NewJersey Resources (NJR) Lowered to C+ at TheStreet

NewJersey Resources (NYSE:NJR) was downgraded by TheStreet from a “b” rating to a “c+” rating in a note issued to investors on Wednesday.

Other research analysts also recently issued research reports about the company. Janney Montgomery Scott upgraded NewJersey Resources from a “neutral” rating to a “buy” rating in a report on Wednesday, November 22nd. Guggenheim reissued a “buy” rating and set a $44.00 price objective on shares of NewJersey Resources in a research report on Wednesday. Zacks Investment Research cut NewJersey Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Finally, ValuEngine cut NewJersey Resources from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $44.00.

NewJersey Resources (NJR) opened at $39.60 on Wednesday. NewJersey Resources has a twelve month low of $33.70 and a twelve month high of $45.45. The company has a current ratio of 0.72, a quick ratio of 0.46 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $3,424.30, a price-to-earnings ratio of 26.05, a PEG ratio of 3.63 and a beta of 0.43.

NewJersey Resources (NYSE:NJR) last issued its quarterly earnings results on Tuesday, November 21st. The utilities provider reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). NewJersey Resources had a net margin of 5.82% and a return on equity of 11.97%. The business had revenue of $536.50 million for the quarter, compared to analysts’ expectations of $480.90 million. During the same quarter in the prior year, the firm posted ($0.03) EPS. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. analysts expect that NewJersey Resources will post 1.81 EPS for the current fiscal year.

In related news, VP Amanda Mullan sold 920 shares of NewJersey Resources stock in a transaction on Monday, December 4th. The stock was sold at an average price of $44.64, for a total transaction of $41,068.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lawrence R. Codey sold 6,000 shares of NewJersey Resources stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $43.13, for a total value of $258,780.00. Following the sale, the director now directly owns 13,266 shares of the company’s stock, valued at approximately $572,162.58. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of NewJersey Resources by 8.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,057 shares of the utilities provider’s stock worth $121,000 after buying an additional 244 shares during the last quarter. Advisor Group Inc. lifted its position in shares of NewJersey Resources by 59.7% in the second quarter. Advisor Group Inc. now owns 4,251 shares of the utilities provider’s stock worth $163,000 after buying an additional 1,589 shares during the last quarter. Flinton Capital Management LLC lifted its position in shares of NewJersey Resources by 92.2% in the second quarter. Flinton Capital Management LLC now owns 4,336 shares of the utilities provider’s stock worth $172,000 after buying an additional 2,080 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of NewJersey Resources in the third quarter worth about $185,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in shares of NewJersey Resources in the third quarter worth about $202,000. 63.48% of the stock is owned by institutional investors.

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NewJersey Resources Company Profile

New Jersey Resources Corporation is an energy services holding company. The Company’s business is the distribution of natural gas through a regulated utility, which provides other retail and wholesale energy services to customers and investing in clean energy projects and midstream assets. It operates in four business segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services and Midstream.

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