NewJersey Resources Corporation (NYSE:NJR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of NewJersey Resources Corporation (NYSE:NJR) have earned an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $53.00.

A number of equities analysts have commented on NJR shares. Weiss Ratings upgraded NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 13th. Argus raised NewJersey Resources to a “strong-buy” rating in a report on Thursday, January 22nd. New Street Research set a $54.00 price target on NewJersey Resources in a research report on Wednesday, December 17th. Mizuho raised NewJersey Resources from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $51.00 to $54.00 in a research note on Wednesday, December 17th. Finally, Williams Trading set a $55.00 price objective on shares of NewJersey Resources in a research report on Tuesday, February 3rd.

NewJersey Resources Stock Performance

NYSE NJR opened at $54.90 on Tuesday. The firm has a 50-day moving average price of $51.35 and a two-hundred day moving average price of $48.16. NewJersey Resources has a 12-month low of $43.46 and a 12-month high of $55.49. The company has a market capitalization of $5.54 billion, a P/E ratio of 17.00 and a beta of 0.57. The company has a quick ratio of 0.58, a current ratio of 0.83 and a debt-to-equity ratio of 1.32.

NewJersey Resources (NYSE:NJR) last announced its earnings results on Monday, February 2nd. The utilities provider reported $1.17 EPS for the quarter, topping the consensus estimate of $0.95 by $0.22. NewJersey Resources had a net margin of 15.18% and a return on equity of 13.06%. The company had revenue of $604.85 million for the quarter, compared to analysts’ expectations of $546.90 million. During the same period last year, the firm earned $1.29 earnings per share. The business’s revenue for the quarter was up 23.8% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.280-3.43 EPS. Analysts anticipate that NewJersey Resources will post 3.15 earnings per share for the current year.

NewJersey Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th will be given a $0.475 dividend. The ex-dividend date is Wednesday, March 11th. This represents a $1.90 annualized dividend and a dividend yield of 3.5%. NewJersey Resources’s payout ratio is presently 58.82%.

Insider Buying and Selling at NewJersey Resources

In related news, COO Patrick J. Migliaccio sold 4,017 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $46.46, for a total transaction of $186,629.82. Following the sale, the chief operating officer owned 38,065 shares in the company, valued at approximately $1,768,499.90. This trade represents a 9.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On NewJersey Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in NJR. Norges Bank acquired a new stake in shares of NewJersey Resources in the 4th quarter valued at $60,075,000. Millennium Management LLC increased its stake in shares of NewJersey Resources by 895.7% in the 3rd quarter. Millennium Management LLC now owns 677,352 shares of the utilities provider’s stock valued at $32,614,000 after purchasing an additional 609,323 shares during the last quarter. Energy Income Partners LLC raised its holdings in shares of NewJersey Resources by 145.7% during the 2nd quarter. Energy Income Partners LLC now owns 798,661 shares of the utilities provider’s stock worth $35,796,000 after buying an additional 473,664 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of NewJersey Resources by 10.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,934,165 shares of the utilities provider’s stock worth $181,446,000 after buying an additional 367,844 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in shares of NewJersey Resources by 77.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 730,300 shares of the utilities provider’s stock worth $32,732,000 after buying an additional 317,932 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

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.