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NXJ

Nuveen New Jersey Quality Municipal Income FundNYSE:NXJ Stock Report

Last Price

US$14.61

Market Cap

US$606.1m

7D

-3.1%

1Y

2.8%

Updated

16 Jan, 2022

Data

Company Financials
NXJ fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance3/6
Financial Health2/6
Dividends3/6

NXJ Stock Overview

Nuveen New Jersey Quality Municipal Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc.

Price History & Performance

Summary of all time highs, changes and price drops for Nuveen New Jersey Quality Municipal Income Fund
Historical stock prices
Current Share PriceUS$14.61
52 Week HighUS$15.95
52 Week LowUS$14.01
Beta0.19
1 Month Change-4.13%
3 Month Change-5.62%
1 Year Change2.82%
3 Year Change11.78%
5 Year Change10.18%
Change since IPO-3.05%

Recent News & Updates

May 07

Nuveen New Jersey Quality Municipal Income Fund declares $0.0585 dividend

Nuveen New Jersey Quality Municipal Income Fund (NXJ) declares $0.0585/share monthly dividend, in line with previous.Forward yield 4.65%Payable June 1; for shareholders of record May 14; ex-div May 13.See NXJ Dividend Scorecard, Yield Chart, & Dividend Growth.

Feb 04

Nuveen New Jersey Quality Municipal Income Fund declares $0.0585 dividend

Nuveen New Jersey Quality Municipal Income Fund (NXJ) declares $0.0585/share monthly dividend, in line with previous.Forward yield 4.82%Payable March 1; for shareholders of record Feb. 12; ex-div Feb. 11.See NXJ Dividend Scorecard, Yield Chart, & Dividend Growth.

Jan 05

Nuveen New Jersey Quality Municipal Income Fund declares $0.0585 dividend

Nuveen New Jersey Quality Municipal Income Fund (NXJ) declares $0.0585/share monthly dividend, in line with previous.Forward yield 4.89%Payable Feb. 1; for shareholders of record Feb. 1; ex-div Jan. 14.See NXJ Dividend Scorecard, Yield Chart, & Dividend Growth.

Dec 02

Nuveen New Jersey Quality Municipal Income Fund declares $0.0585 dividend

Nuveen New Jersey Quality Municipal Income Fund (NXJ) declares $0.0585/share monthly dividend, in line with previous.Forward yield 4.93%Payable Dec. 31; for shareholders of record Dec. 15; ex-div Dec. 14.See NXJ Dividend Scorecard, Yield Chart, & Dividend Growth.

Nov 06

New Jersey GO bond rating cut to BBB+ by S&P; outlook stable

S&P Global Ratings lowers its rating on New Jersey's general obligation bonds by one level to BBB+, still squarely in investment-grade territory, from A-.The state's long-term and underlying ratings are cut to BBB from BBB+ on various other bonds secured by annual appropriations from the state.Outlook on all bonds is stable."The downgrade reflects our view that New Jersey will continue to have a significant structural deficit that will be difficult to close in the coming years

Nov 03

Nuveen New Jersey Quality Municipal Income Fund declares $0.0585 dividend

Nuveen New Jersey Quality Municipal Income Fund (NXJ) declares $0.0585/share monthly dividend, in line with previous.Forward yield 5.16%Payable Dec. 1; for shareholders of record Nov. 13; ex-div Nov. 12.See NXJ Dividend Scorecard, Yield Chart, & Dividend Growth.

Shareholder Returns

NXJUS Capital MarketsUS Market
7D-3.1%-1.6%-0.5%
1Y2.8%30.2%13.7%

Return vs Industry: NXJ underperformed the US Capital Markets industry which returned 30.2% over the past year.

Return vs Market: NXJ underperformed the US Market which returned 13.7% over the past year.

Price Volatility

Is NXJ's price volatile compared to industry and market?
NXJ volatility
NXJ Average Weekly Movement1.1%
Capital Markets Industry Average Movement0.7%
Market Average Movement6.6%
10% most volatile stocks in US Market15.9%
10% least volatile stocks in US Market2.4%

Stable Share Price: NXJ is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 1% a week.

Volatility Over Time: NXJ's weekly volatility (1%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1999n/an/ahttps://www.nuveen.com/CEF/Product/Overview.aspx?FundCode=NXJ&refsrc=vu_nuveen.com/nxj

Nuveen New Jersey Quality Municipal Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc. The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of New Jersey. The fund invests in undervalued municipal securities and other related investments that are, exempt from regular federal and New Jersey income taxes that are rated Baa or BBB or better.

Nuveen New Jersey Quality Municipal Income Fund Fundamentals Summary

How do Nuveen New Jersey Quality Municipal Income Fund's earnings and revenue compare to its market cap?
NXJ fundamental statistics
Market CapUS$606.07m
Earnings (TTM)US$49.69m
Revenue (TTM)US$38.63m

12.2x

P/E Ratio

15.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
NXJ income statement (TTM)
RevenueUS$38.63m
Cost of RevenueUS$0
Gross ProfitUS$38.63m
Expenses-US$11.06m
EarningsUS$49.69m

Last Reported Earnings

Aug 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)1.20
Gross Margin100.00%
Net Profit Margin128.62%
Debt/Equity Ratio49.9%

How did NXJ perform over the long term?

See historical performance and comparison

Dividends

4.8%

Current Dividend Yield

58%

Payout Ratio

Valuation

Is Nuveen New Jersey Quality Municipal Income Fund undervalued compared to its fair value and its price relative to the market?

12.2x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: NXJ ($14.61) is trading above our estimate of fair value ($9.29)

Significantly Below Fair Value: NXJ is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: NXJ is good value based on its PE Ratio (12.2x) compared to the US Capital Markets industry average (15.9x).

PE vs Market: NXJ is good value based on its PE Ratio (12.2x) compared to the US market (17.4x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate NXJ's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: NXJ is good value based on its PB Ratio (0.9x) compared to the US Capital Markets industry average (42.4x).

Future Growth

How is Nuveen New Jersey Quality Municipal Income Fund forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

3.7%

Forecasted Diversified Financials industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Nuveen New Jersey Quality Municipal Income Fund has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Past Performance

How has Nuveen New Jersey Quality Municipal Income Fund performed over the past 5 years?

-1.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: NXJ has a large one-off gain of $20.7M impacting its August 31 2021 financial results.

Growing Profit Margin: NXJ's current net profit margins are higher than last year (17.4%).


Past Earnings Growth Analysis

Earnings Trend: NXJ's earnings have declined by 1.5% per year over the past 5 years.

Accelerating Growth: NXJ's earnings growth over the past year (607.7%) exceeds its 5-year average (-1.5% per year).

Earnings vs Industry: NXJ earnings growth over the past year (607.7%) exceeded the Capital Markets industry 86.4%.


Return on Equity

High ROE: NXJ's Return on Equity (7.1%) is considered low.

Financial Health

How is Nuveen New Jersey Quality Municipal Income Fund's financial position?


Financial Position Analysis

Short Term Liabilities: NXJ's short term assets ($12.3M) do not cover its short term liabilities ($350.2M).

Long Term Liabilities: NXJ has no long term liabilities.


Debt to Equity History and Analysis

Debt Level: NXJ's net debt to equity ratio (49.8%) is considered high.

Reducing Debt: NXJ's debt to equity ratio has increased from 46% to 49.9% over the past 5 years.

Debt Coverage: NXJ's debt is not well covered by operating cash flow (6.2%).

Interest Coverage: NXJ's interest payments on its debt are well covered by EBIT (10.2x coverage).


Balance Sheet

Dividend

What is Nuveen New Jersey Quality Municipal Income Fund current dividend yield, its reliability and sustainability?

4.80%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: NXJ's dividend (4.8%) is higher than the bottom 25% of dividend payers in the US market (1.32%).

High Dividend: NXJ's dividend (4.8%) is in the top 25% of dividend payers in the US market (3.44%)


Stability and Growth of Payments

Stable Dividend: NXJ's dividend payments have been volatile in the past 10 years.

Growing Dividend: NXJ's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (58.4%), NXJ's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Management

How experienced are the management team and are they aligned to shareholders interests?

16.0yrs

Average board tenure


CEO

Nuveen New Jersey Quality Municipal Income Fund has no CEO, or we have no data on them.


Board Members

Experienced Board: NXJ's board of directors are seasoned and experienced ( 16 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Nuveen New Jersey Quality Municipal Income Fund's employee growth, exchange listings and data sources


Key Information


Location

  • Nuveen New Jersey Quality Municipal Income Fund
  • 333 West Wacker Drive
  • Chicago
  • Illinois
  • 60606
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/16 23:19
End of Day Share Price2022/01/14 00:00
Earnings2021/08/31
Annual Earnings2021/02/28


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.