NewJersey Resources (NYSE:NJR) Announces Quarterly Earnings Results

NewJersey Resources (NYSE:NJR) released its quarterly earnings results on Monday. The utilities provider reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05, FiscalAI reports. NewJersey Resources had a return on equity of 14.66% and a net margin of 16.42%.The business had revenue of $349.18 million during the quarter, compared to analysts’ expectations of $342.13 million. During the same period last year, the firm posted ($0.15) EPS. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. NewJersey Resources updated its FY 2026 guidance to 3.520-3.620 EPS.

NewJersey Resources Trading Down 1.2%

Shares of NYSE:NJR traded down $0.68 during mid-day trading on Wednesday, reaching $56.71. 163,073 shares of the company’s stock were exchanged, compared to its average volume of 595,203. The firm has a market capitalization of $5.72 billion, a price-to-earnings ratio of 16.83 and a beta of 0.50. The business’s fifty day moving average price is $56.82 and its 200-day moving average price is $55.07. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.80 and a current ratio of 0.94. NewJersey Resources has a twelve month low of $43.46 and a twelve month high of $60.86.

Insider Activity at NewJersey Resources

In related news, insider Christopher T. D’antuono sold 1,150 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $57.34, for a total value of $65,941.00. Following the completion of the sale, the insider directly owned 2,985 shares in the company, valued at $171,159.90. This represents a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jane M. Kenny sold 8,000 shares of NewJersey Resources stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $56.10, for a total value of $448,800.00. Following the transaction, the director directly owned 21,998 shares in the company, valued at $1,234,087.80. The trade was a 26.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 12,150 shares of company stock worth $682,261 over the last three months. Company insiders own 0.70% of the company’s stock.

Institutional Trading of NewJersey Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of NewJersey Resources by 10.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,934,165 shares of the utilities provider’s stock valued at $181,446,000 after purchasing an additional 367,844 shares during the last quarter. Northern Trust Corp boosted its position in NewJersey Resources by 1.1% during the third quarter. Northern Trust Corp now owns 1,335,344 shares of the utilities provider’s stock valued at $64,297,000 after acquiring an additional 14,512 shares during the last quarter. Morgan Stanley grew its holdings in NewJersey Resources by 19.4% during the 4th quarter. Morgan Stanley now owns 1,283,533 shares of the utilities provider’s stock worth $59,197,000 after acquiring an additional 208,388 shares during the period. Energy Income Partners LLC grew its holdings in NewJersey Resources by 19.1% during the 3rd quarter. Energy Income Partners LLC now owns 951,527 shares of the utilities provider’s stock worth $45,816,000 after acquiring an additional 152,866 shares during the period. Finally, Royal London Asset Management Ltd. raised its position in shares of NewJersey Resources by 3.2% in the 4th quarter. Royal London Asset Management Ltd. now owns 813,871 shares of the utilities provider’s stock worth $37,536,000 after acquiring an additional 25,001 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wells Fargo & Company cut shares of NewJersey Resources from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $63.00 to $61.00 in a report on Wednesday. Mizuho lifted their price objective on NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, April 21st. Argus set a $63.00 price target on NewJersey Resources in a research report on Wednesday, May 20th. Finally, Weiss Ratings raised shares of NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, NewJersey Resources presently has an average rating of “Buy” and an average price target of $57.83.

About NewJersey Resources

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.