New Jersey Resources Corp (NJR) reported quarterly earnings results on Wednesday, May-4-2016. The company reported $0.91 EPS for the quarter. Analysts had a consensus estimate of $0.91. The company posted revenue of $574.19 million in the period, compared to analysts expectations of $1058.20 million. The company’s revenue was down -43.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 EPS.
Many Wall Street Analysts have commented on New Jersey Resources Corp. New Jersey Resources Corp was Initiated by BB&T Capital Mkts to “Hold” on Mar 30, 2016.
New Jersey Resources Corp opened for trading at $35.73 and hit $36.43 on the upside on Monday, eventually ending the session at $36.15, with a gain of 1.32% or 0.47 points. The heightened volatility saw the trading volume jump to 4,72,688 shares. Company has a market cap of $3,106 M.
In a different news, on Mar 24, 2016, Mariellen Dugan (Sr. V.P. & General Counsel) sold 9,511 shares at $35.60 per share price. According to the SEC, on Mar 17, 2016, Jane M Kenny (director) sold 4,500 shares at $35.00 per share price. On Mar 15, 2016, Patrick J. Migliaccio (Senior VP and CFO) sold 1,800 shares at $34.45 per share price, according to the Form-4 filing with the securities and exchange commission.
New Jersey Resources Corporation (NJR) is an energy services holding company that provides retail and wholesale energy services to customers primarily in the Gulf Coast Mid-Continent Appalachian Northeastern and Western market areas of the United States as well as Canada. The Company operates within four reportable business segments: Natural Gas Distribution Clean Energy Ventures Energy Services and Midstream (formerly Energy Holdings). The Natural Gas Distribution segment consists of regulated energy and off-system capacity and storage management operations. The Clean Energy Ventures segment consists of capital investments in clean energy projects. The Energy Services segment consists of unregulated wholesale energy operations. Lastly the Midstream segment consists of investments in the midstream natural gas market such as natural gas transportation and storage facilities.