NewJersey Resources Corporation (NYSE:NJR) Plans Dividend Increase – $0.50 Per Share

NewJersey Resources Corporation (NYSE:NJR) announced a quarterly dividend on Thursday, September 10th. Shareholders of record on Thursday, September 24th will be paid a dividend of 0.50 per share by the utilities provider on Thursday, October 1st. This represents a c) annualized dividend and a yield of 3.7%. The ex-dividend date is Thursday, September 24th. This is a 5.3% increase from NewJersey Resources’s previous quarterly dividend of $0.47.

NewJersey Resources has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 29 consecutive years. NewJersey Resources has a dividend payout ratio of 60.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect NewJersey Resources to earn $3.43 per share next year, which means the company should continue to be able to cover its $1.90 annual dividend with an expected future payout ratio of 55.4%.

NewJersey Resources Stock Performance

NewJersey Resources stock opened at $53.34 on Friday. NewJersey Resources has a fifty-two week low of $43.46 and a fifty-two week high of $60.86. The stock’s 50 day simple moving average is $56.21 and its two-hundred day simple moving average is $55.73. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.45 and a current ratio of 0.66. The stock has a market cap of $5.41 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 2.98 and a beta of 0.50.

NewJersey Resources (NYSE:NJR) last announced its earnings results on Monday, August 3rd. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. The firm had revenue of $349.18 million during the quarter, compared to analyst estimates of $342.13 million. NewJersey Resources had a return on equity of 14.46% and a net margin of 16.42%.The business’s revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.15) EPS. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. As a group, analysts expect that NewJersey Resources will post 3.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NJR has been the subject of a number of research reports. Wells Fargo & Company downgraded NewJersey Resources from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $63.00 to $61.00 in a report on Wednesday, August 5th. Argus set a $63.00 price target on NewJersey Resources in a research report on Wednesday, May 20th. Finally, Weiss Ratings downgraded NewJersey Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, NewJersey Resources currently has an average rating of “Buy” and an average price target of $57.83.

About NewJersey Resources

New Jersey Resources Corporation (NYSE: NJR) is an energy services holding company based in Wall, New Jersey. Through its subsidiaries, the company provides regulated natural gas distribution, energy management, wholesale energy services, renewable energy development, and natural gas storage and transportation solutions.

Its principal subsidiary, New Jersey Natural Gas, operates a regulated natural gas utility serving residential, commercial, and industrial customers in central and northern New Jersey.