Technical Indicators under revision: New Jersey Resources Corporation (NYSE: NJR)

On 27 Jan 2020, New Jersey Resources Corporation stock identified change of 6.72% away from 52-week low price and recently located move of -15.96% off 52-week high price. It has market worth of $4133.46M and dividend yield of 2.90%. NJR stock has been recorded -0.54% away from 50 day moving average and -6.68% away from 200 day moving average. Moving closer, we can see that shares have been trading -1.39% off 20-day moving average.

Recently, New Jersey Resources (NJR) stated results for fiscal 2019. Highlights for the fiscal year included:

Consolidated net income of $169.5M, contrast with $233.4M in fiscal 2018

Consolidated net financial earnings (NFE), a non-GAAP financial measure, of $175.0M, or $1.96 per share, contrast with $240.5M, or $2.74 per share in fiscal 2018

Reported fiscal 2020 NFE guidance of $2.05 to $2.15 per share

Increased yearly dividend rate by 6.8 percent to $1.25 per share

Received all permits for the Southern Reliability Link (SRL) and began construction during fiscal 2019

Clean Energy Ventures (CEV) placed seven commercial solar installations into service, adding 51.8 megawatts (MW) to total installed capacity

Fiscal 2019 net income totaled $169.5M, or $1.90 per share, contrast with $233.4M, or $2.66 per share, in fiscal 2018. Fiscal 2019 NFE totaled $175.0M, or $1.96 per share, in-line with the before reported guidance range, contrast with $240.5M, or $2.74 per share, in fiscal 2018. The results during fiscal 2018 included an income tax benefit of $59.6M, or $0.68 per share, Because of the revaluation of deferred taxes resulting from tax reform and the reduction in the federal corporate tax rate. In addition, fiscal 2018 results included better than predictable performance at Energy Services, driven by sustained cold weather and pricing volatility, which did not reoccur in fiscal 2019.

Fourth-quarter fiscal 2019 net income totaled $18.1M, or $0.20 per share, contrast with a net loss of $16.3M, or $0.18 per share, during the same period in fiscal 2018. Fourth-quarter NFE was $26.0M, or $0.29 per share, contrast with a net financial loss of $28.9M, or $0.33 per share, during the same period last year. The increase in our fourth quarter fiscal 2019 results were primarily Because of contributions at CEV, which recorded increased Solar Renewable Energy Credits (SRECs) sales and recognized increased income tax credits (ITCs) on projects placed into service, contrast to the fourth quarter of fiscal 2018.

“New Jersey Resources delivered solid results for fiscal 2019 and our continued investments in energy infrastructure positions us to deliver consistent results for our share-owners,” stated Steve Westhoven, President and CEO of New Jersey Resources. “We are committed to meeting our consumers needs’ and rewarding the confidence of our share-owners, as illustrated by our 6.8 percent dividend increase.”

New Jersey Resources Corporation noticed change of -0.32% to $43.03 along volume of 522789 shares in recent session compared to an average volume of 617.95K. NJR’s shares are at -2.56% for the quarter and driving a -8.64% return over the course of the past year and is now at -3.46% since this point in 2018.   The average volatility for the week at 1.71% and for month was at 1.52%.

 

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