NewJersey Resources (NYSE:NJR) was downgraded by equities researchers at TheStreet from a “b” rating to a “c+” rating in a research report issued to clients and investors on Wednesday, January 3rd.

NJR has been the subject of a number of other research reports. Zacks Investment Research cut NewJersey Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Janney Montgomery Scott raised NewJersey Resources from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 22nd. ValuEngine lowered NewJersey Resources from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Guggenheim reaffirmed a “buy” rating and issued a $44.00 price objective on shares of NewJersey Resources in a research note on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $44.00.

Shares of NewJersey Resources (NYSE NJR) traded down $0.40 during mid-day trading on Wednesday, hitting $39.10. The stock had a trading volume of 726,799 shares, compared to its average volume of 631,953. NewJersey Resources has a twelve month low of $36.40 and a twelve month high of $45.45. The stock has a market capitalization of $3,433.00, a PE ratio of 25.80, a P/E/G ratio of 3.64 and a beta of 0.43. The company has a current ratio of 0.72, a quick ratio of 0.46 and a debt-to-equity ratio of 0.81.

NewJersey Resources (NYSE:NJR) last announced 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). The firm had revenue of $536.50 million during the quarter, compared to analysts’ expectations of $480.90 million. NewJersey Resources had a net margin of 5.82% and a return on equity of 11.97%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.03) EPS. analysts forecast that NewJersey Resources will post 1.81 EPS for the current year.

In other NewJersey Resources news, VP Amanda Mullan sold 920 shares of NewJersey Resources stock in a transaction that occurred 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 filing with the SEC, which is available through this link. Also, Director Lawrence R. Codey sold 6,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 13,266 shares of the company’s stock, valued at $572,162.58. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Amalgamated Bank increased its holdings in shares of NewJersey Resources by 1.5% in the 2nd quarter. Amalgamated Bank now owns 12,231 shares of the utilities provider’s stock valued at $486,000 after acquiring an additional 185 shares during the last quarter. Stifel Financial Corp boosted its position in NewJersey Resources by 2.5% during the 2nd quarter. Stifel Financial Corp now owns 9,853 shares of the utilities provider’s stock valued at $390,000 after purchasing an additional 237 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in NewJersey Resources by 8.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,057 shares of the utilities provider’s stock valued at $121,000 after purchasing an additional 244 shares during the period. Public Employees Retirement System of Ohio boosted its position in NewJersey Resources by 5.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,823 shares of the utilities provider’s stock valued at $231,000 after purchasing an additional 284 shares during the period. Finally, Royal Bank of Canada boosted its position in NewJersey Resources by 0.8% during the 2nd quarter. Royal Bank of Canada now owns 38,631 shares of the utilities provider’s stock valued at $1,534,000 after purchasing an additional 325 shares during the period. Institutional investors and hedge funds own 63.52% of the company’s stock.

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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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