New Jersey Resources (NYSE:NJR) Releases Quarterly Earnings Results, Beats Expectations By $0.11 EPS

New Jersey Resources (NYSE:NJR) issued its earnings results on Monday. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.11, Zacks reports. New Jersey Resources had a return on equity of 15.72% and a net margin of 18.25%. The business had revenue of $913.03 million for the quarter, compared to analysts’ expectations of $732.00 million. During the same period in the previous year, the firm posted $1.41 EPS. The company’s quarterly revenue was up 38.8% on a year-over-year basis. New Jersey Resources updated its FY 2025 guidance to 3.150-3.300 EPS.

New Jersey Resources Stock Performance

Shares of NJR stock opened at $48.68 on Wednesday. New Jersey Resources has a fifty-two week low of $41.58 and a fifty-two week high of $51.95. The stock’s 50-day moving average is $48.63 and its two-hundred day moving average is $47.78. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.89 and a quick ratio of 0.61. The firm has a market cap of $4.88 billion, a P/E ratio of 14.66 and a beta of 0.66.

New Jersey Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.80 annualized dividend and a dividend yield of 3.70%. New Jersey Resources’s dividend payout ratio is 54.22%.

Insider Activity at New Jersey Resources

In other New Jersey Resources news, CFO Roberto Bel sold 1,173 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $50.00, for a total transaction of $58,650.00. Following the transaction, the chief financial officer now directly owns 22,649 shares of the company’s stock, valued at $1,132,450. This represents a 4.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on NJR. JPMorgan Chase & Co. cut their price objective on New Jersey Resources from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Guggenheim upped their price target on shares of New Jersey Resources from $53.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. New Street Research set a $51.00 price objective on shares of New Jersey Resources in a research report on Tuesday, April 1st. StockNews.com lowered New Jersey Resources from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Jefferies Financial Group began coverage on New Jersey Resources in a report on Tuesday, April 1st. They set a “hold” rating and a $51.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, New Jersey Resources currently has an average rating of “Hold” and a consensus target price of $51.50.

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.