New Jersey Resources (NYSE:NJR) Releases FY25 Earnings Guidance

New Jersey Resources (NYSE:NJR) issued an update on its FY25 earnings guidance on Monday morning. The company provided earnings per share guidance of $3.05-3.20 for the period, compared to the consensus earnings per share estimate of $2.89.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Mizuho upped their target price on New Jersey Resources from $45.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. JPMorgan Chase & Co. upped their price target on New Jersey Resources from $48.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Wells Fargo & Company raised their price objective on New Jersey Resources from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, StockNews.com raised shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $49.00.

New Jersey Resources Stock Up 0.9 %

Shares of New Jersey Resources stock traded up $0.46 during midday trading on Monday, hitting $51.50. The company had a trading volume of 585,263 shares, compared to its average volume of 488,839. The company has a 50 day moving average of $46.92 and a 200 day moving average of $45.29. The stock has a market capitalization of $5.11 billion, a P/E ratio of 21.36 and a beta of 0.59. New Jersey Resources has a 52-week low of $39.44 and a 52-week high of $51.80. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.41 and a current ratio of 0.60.

New Jersey Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.45 per share. The ex-dividend date is Wednesday, December 11th. This represents a $1.80 annualized dividend and a dividend yield of 3.50%. New Jersey Resources’s payout ratio is presently 75.31%.

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.