New Jersey Resources (NYSE:NJR) Updates FY20 Earnings Guidance

New Jersey Resources (NYSE:NJR) updated its FY20 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.05-2.15 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.23.

Several equities analysts have weighed in on the company. ValuEngine cut New Jersey Resources from a buy rating to a hold rating in a research note on Tuesday, October 1st. TheStreet cut New Jersey Resources from a b- rating to a c+ rating in a research note on Thursday, October 17th. Finally, Zacks Investment Research raised New Jersey Resources from a sell rating to a hold rating in a research note on Wednesday, October 9th.

Shares of NYSE NJR opened at $41.71 on Tuesday. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 2.37 and a beta of 0.31. The business has a 50 day simple moving average of $43.15 and a 200 day simple moving average of $46.75. New Jersey Resources has a 52 week low of $40.32 and a 52 week high of $51.83. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.62 and a current ratio of 0.88.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Thursday, December 19th will be given a dividend of $0.313 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $1.25 dividend on an annualized basis and a yield of 3.00%. This is a boost from New Jersey Resources’s previous quarterly dividend of $0.29. New Jersey Resources’s dividend payout ratio is presently 45.62%.

New Jersey Resources Company Profile

New Jersey Resources Corporation, an energy services holding company, provides regulated gas distribution, and retail and wholesale energy services. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Midstream segments. The Natural Gas Distribution segment offers regulated retail natural gas services to approximately 538,700 residential and commercial customers in central and northern New Jersey; provides storage management services; and participates in the off-system sales and capacity release markets.

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