In a report released today, Richard Ciciarelli from Merrill Lynch maintained a Sell rating on New Jersey Resources (NJR), with a price target of $29.00. The company’s shares closed last Monday at $33.38.
According to TipRanks.com, Ciciarelli is a 1-star analyst with an average return of -2.5% and a 36.4% success rate. Ciciarelli covers the Utilities sector, focusing on stocks such as Northwest Gas, ONE Gas, and Spire.
The word on The Street in general, suggests a Hold analyst consensus rating for New Jersey Resources with a $33.67 average price target.
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The company has a one-year high of $46.36 and a one-year low of $21.14. Currently, New Jersey Resources has an average volume of 560.7K.
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New Jersey Resources Corp. is a holding company. The firm provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. It operates through the following segments: New Jersey Natural Gas, NJR Clean Energy Ventures, NJR Energy Services, NJR Midstream, and NJR Home Services. The New Jersey Natural Gas segment provides regulated retail natural gas service to residential and commercial customers in central and northern New Jersey. The NJR Clean Energy Ventures segment invests in, owns and operates solar projects. The NJR Energy Services segment manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services in the U.S. and Canada. The NJR Midstream segment serves customers from local distributors and producers to electric generators and wholesale marketers. The NJR Home Services segment provides heating, ventilation and cooling service, sales and installation of appliances services to its customers, as well as solar installation projects, and is the primary contributor to home services. The company was founded in 1981 and is headquartered in Wall, NJ.
