NewJersey Resources (NYSE:NJR) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of NewJersey Resources (NYSE:NJR) from a hold rating to a sell rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company downgraded shares of NewJersey Resources from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $63.00 to $61.00 in a report on Wednesday, August 5th. JPMorgan Chase & Co. dropped their price objective on shares of NewJersey Resources from $64.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday. Weiss Ratings downgraded shares of NewJersey Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Finally, Argus set a $63.00 target price on shares of NewJersey Resources in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $58.57.

NewJersey Resources Trading Down 0.4%

Shares of NYSE NJR opened at $53.12 on Friday. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 2.96 and a beta of 0.50. NewJersey Resources has a 12-month low of $43.46 and a 12-month high of $60.86. The company has a current ratio of 0.66, a quick ratio of 0.45 and a debt-to-equity ratio of 1.21. The stock’s 50 day simple moving average is $56.12 and its 200 day simple moving average is $55.71.

NewJersey Resources (NYSE:NJR) last released its quarterly earnings data on Monday, August 3rd. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $349.18 million during the quarter, compared to analyst estimates of $342.13 million. NewJersey Resources had a return on equity of 14.46% and a net margin of 16.42%.The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.15) EPS. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. Equities research analysts expect that NewJersey Resources will post 3.59 EPS for the current year.

NewJersey Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 24th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Thursday, September 24th. This is an increase from NewJersey Resources’s previous quarterly dividend of $0.47. NewJersey Resources’s dividend payout ratio (DPR) is presently 52.49%.

Insider Transactions at NewJersey Resources

In other news, COO Patrick Migliaccio sold 3,000 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $55.63, for a total value of $166,890.00. Following the completion of the transaction, the chief operating officer owned 32,202 shares of the company’s stock, valued at approximately $1,791,397.26. This represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On NewJersey Resources

Institutional investors have recently bought and sold shares of the stock. Measured Wealth Private Client Group LLC acquired a new stake in shares of NewJersey Resources in the 3rd quarter worth approximately $28,000. Root Financial Partners LLC raised its holdings in NewJersey Resources by 56.5% during the first quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 190 shares in the last quarter. Essential Partners LLC raised its holdings in NewJersey Resources by 67.3% during the second quarter. Essential Partners LLC now owns 686 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 276 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in NewJersey Resources by 118.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 933 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 505 shares during the period. Finally, CENTRAL TRUST Co lifted its position in NewJersey Resources by 172.7% in the first quarter. CENTRAL TRUST Co now owns 818 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 518 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

About NewJersey Resources

New Jersey Resources Corporation (NYSE: NJR) is an energy services holding company based in Wall, New Jersey. Through its subsidiaries, the company provides regulated natural gas distribution, energy management, wholesale energy services, renewable energy development, and natural gas storage and transportation solutions.

Its principal subsidiary, New Jersey Natural Gas, operates a regulated natural gas utility serving residential, commercial, and industrial customers in central and northern New Jersey.