Nuveen New Jersey Quality Municipal Income Fund Balance Sheet Health
Financial Health criteria checks 2/6
Nuveen New Jersey Quality Municipal Income Fund has a total shareholder equity of $554.2M and total debt of $345.9M, which brings its debt-to-equity ratio to 62.4%. Its total assets and total liabilities are $903.5M and $349.3M respectively. Nuveen New Jersey Quality Municipal Income Fund's EBIT is $30.3M making its interest coverage ratio 3.5. It has cash and short-term investments of $8.2M.
Key information
62.4%
Debt to equity ratio
US$345.92m
Debt
| Interest coverage ratio | 3.5x |
| Cash | US$8.16m |
| Equity | US$554.19m |
| Total liabilities | US$349.27m |
| Total assets | US$903.46m |
Recent financial health updates
No updates
Recent updates
Nuveen New Jersey Quality Municipal Income Fund declares $0.0325 dividend
Feb 07Nuveen New Jersey Quality Municipal Income Fund dividend declines by 21.7% o $0.0325
Jan 11Nuveen New Jersey Quality Municipal Income Fund declares $0.0415 dividend
Dec 06Nuveen New Jersey Quality Municipal Income Fund reduces dividend by 16.2%
Oct 06Nuveen New Jersey Quality Municipal Income Fund declares $0.0495 dividend
Sep 02Nuveen New Jersey Quality Municipal Income Fund dips -7.5% to $0.0495/share
Jul 06Nuveen New Jersey Quality Municipal Income Fund declares $0.0585 dividend
May 07Nuveen New Jersey Quality Municipal Income Fund declares $0.0585 dividend
Feb 04Nuveen New Jersey Quality Municipal Income Fund declares $0.0585 dividend
Jan 05Nuveen New Jersey Quality Municipal Income Fund declares $0.0585 dividend
Dec 02New Jersey GO bond rating cut to BBB+ by S&P; outlook stable
Nov 06Nuveen New Jersey Quality Municipal Income Fund declares $0.0585 dividend
Nov 03Financial Position Analysis
Short Term Liabilities: NXJ's short term assets ($17.4M) do not cover its short term liabilities ($349.3M).
Long Term Liabilities: NXJ has no long term liabilities.
Debt to Equity History and Analysis
Debt Level: NXJ's net debt to equity ratio (60.9%) is considered high.
Reducing Debt: NXJ's debt to equity ratio has increased from 49.2% to 62.4% over the past 5 years.
Debt Coverage: NXJ's debt is not well covered by operating cash flow (8.7%).
Interest Coverage: NXJ's interest payments on its debt are well covered by EBIT (3.5x coverage).