Mizuho Lowers New Jersey Resources (NYSE:NJR) Price Target to $45.00

New Jersey Resources (NYSE:NJRGet Free Report) had its target price cut by equities researchers at Mizuho from $47.00 to $45.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the utilities provider’s stock. Mizuho’s price objective indicates a potential upside of 10.00% from the stock’s previous close.

Separately, Guggenheim cut their price objective on shares of New Jersey Resources from $47.00 to $42.00 in a research report on Monday, October 9th.

Read Our Latest Stock Analysis on New Jersey Resources

New Jersey Resources Stock Performance

New Jersey Resources stock opened at $40.91 on Monday. The stock’s 50 day simple moving average is $43.31 and its two-hundred day simple moving average is $42.79. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.38 and a current ratio of 0.66. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 2.46 and a beta of 0.63. New Jersey Resources has a fifty-two week low of $38.92 and a fifty-two week high of $55.84.

New Jersey Resources (NYSE:NJRGet Free Report) last released its earnings results on Tuesday, November 21st. The utilities provider reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. New Jersey Resources had a net margin of 13.49% and a return on equity of 13.24%. The firm had revenue of $331.30 million during the quarter, compared to analyst estimates of $759.99 million. During the same period last year, the business earned $0.50 earnings per share. The business’s revenue was down 56.7% on a year-over-year basis. As a group, analysts expect that New Jersey Resources will post 2.77 earnings per share for the current fiscal year.

Insider Activity at New Jersey Resources

In related news, COO Patrick J. Migliaccio sold 3,579 shares of the stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $44.29, for a total value of $158,513.91. Following the completion of the transaction, the chief operating officer now owns 41,886 shares of the company’s stock, valued at approximately $1,855,130.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.75% of the stock is owned by insiders.

Institutional Trading of New Jersey Resources

Several institutional investors have recently added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new position in shares of New Jersey Resources during the fourth quarter worth approximately $26,000. Parkside Financial Bank & Trust purchased a new position in New Jersey Resources during the fourth quarter valued at approximately $29,000. Headlands Technologies LLC purchased a new position in New Jersey Resources during the fourth quarter valued at approximately $31,000. Quarry LP purchased a new position in New Jersey Resources in the second quarter worth $38,000. Finally, GAMMA Investing LLC purchased a new position in New Jersey Resources in the fourth quarter worth $40,000. Institutional investors own 73.08% of the company’s stock.

New Jersey Resources Company Profile

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for New Jersey Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Jersey Resources and related companies with MarketBeat.com's FREE daily email newsletter.