NewJersey Resources Corporation (NYSE:NJR) Given Consensus Rating of “Buy” by Brokerages

NewJersey Resources Corporation (NYSE:NJR) has received a consensus rating of “Buy” from the six brokerages that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $56.1667.

A number of brokerages have recently commented on NJR. Argus raised shares of NewJersey Resources to a “strong-buy” rating in a research note on Thursday, January 22nd. Wells Fargo & Company began coverage on shares of NewJersey Resources in a research note on Tuesday. They issued an “overweight” rating and a $63.00 target price on the stock. Weiss Ratings raised shares of NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 13th. Williams Trading set a $55.00 target price on shares of NewJersey Resources in a research note on Tuesday, February 3rd. Finally, Raymond James Financial reissued an “outperform” rating on shares of NewJersey Resources in a research note on Tuesday, February 3rd.

NewJersey Resources Stock Performance

NYSE:NJR opened at $56.94 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.94 and a debt-to-equity ratio of 1.24. The company has a market cap of $5.75 billion, a P/E ratio of 16.90 and a beta of 0.51. NewJersey Resources has a fifty-two week low of $43.46 and a fifty-two week high of $57.85. The firm’s 50 day moving average is $55.27 and its two-hundred day moving average is $50.54.

NewJersey Resources (NYSE:NJR) last posted its quarterly earnings results on Monday, May 4th. The utilities provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. The company had revenue of $939.40 million for the quarter, compared to the consensus estimate of $849.95 million. NewJersey Resources had a net margin of 15.67% and a return on equity of 14.58%. NewJersey Resources’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.78 earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. Analysts expect that NewJersey Resources will post 3.5 EPS for the current year.

NewJersey Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th will be paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, June 10th. NewJersey Resources’s dividend payout ratio (DPR) is currently 56.38%.

Insider Activity

In related news, SVP Richard Reich sold 5,449 shares of the firm’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $52.99, for a total transaction of $288,742.51. Following the completion of the sale, the senior vice president directly owned 26,975 shares of the company’s stock, valued at approximately $1,429,405.25. This trade represents a 16.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jane M. Kenny sold 8,000 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $56.10, for a total transaction of $448,800.00. Following the sale, the director directly owned 21,998 shares of the company’s stock, valued at approximately $1,234,087.80. The trade was a 26.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 19,554 shares of company stock valued at $1,073,928. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On NewJersey Resources

Large investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC grew its holdings in NewJersey Resources by 56.5% during the 1st quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 190 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in NewJersey Resources during the 3rd quarter valued at $28,000. Bessemer Group Inc. grew its holdings in NewJersey Resources by 60.1% during the 3rd quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 230 shares in the last quarter. Torren Management LLC acquired a new stake in NewJersey Resources during the 4th quarter valued at $35,000. Finally, CENTRAL TRUST Co grew its holdings in NewJersey Resources by 172.7% during the 1st quarter. CENTRAL TRUST Co now owns 818 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 518 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

NewJersey Resources Company Profile

New Jersey Resources Corporation is a publicly traded energy services holding company headquartered in Wall Township, New Jersey. The firm’s primary focus is on the safe and reliable distribution of natural gas, along with complementary energy services and renewable energy investments. Its operations center on delivering cost-effective solutions to residential, commercial and industrial customers throughout the state.

The company’s principal subsidiary, New Jersey Natural Gas, owns and operates an extensive pipeline network that spans northern, central and southern New Jersey.