NewJersey Resources (NYSE:NJR) Sets New 12-Month High – Here’s What Happened

NewJersey Resources Corporation (NYSE:NJR)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $53.74 and last traded at $53.8450, with a volume of 45260 shares. The stock had previously closed at $52.85.

Wall Street Analyst Weigh In

NJR has been the topic of a number of recent analyst reports. Argus raised NewJersey Resources to a “strong-buy” rating in a research report on Thursday, January 22nd. Wall Street Zen upgraded NewJersey Resources from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Raymond James Financial restated an “outperform” rating on shares of NewJersey Resources in a research report on Tuesday, February 3rd. New Street Research set a $54.00 price objective on shares of NewJersey Resources in a research report on Wednesday, December 17th. Finally, Williams Trading set a $55.00 target price on shares of NewJersey Resources in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, NewJersey Resources has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

NewJersey Resources Stock Performance

The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.58 and a current ratio of 0.83. The company has a market cap of $5.47 billion, a P/E ratio of 16.78 and a beta of 0.60. The firm has a 50 day moving average price of $47.99 and a 200-day moving average price of $47.08.

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

NewJersey Resources Dividend Announcement

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

Insider Transactions at NewJersey Resources

In other news, COO Patrick J. Migliaccio sold 4,017 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $46.46, for a total transaction of $186,629.82. Following the completion of the transaction, the chief operating officer directly owned 38,065 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. 0.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. denkapparat Operations GmbH bought a new position in NewJersey Resources during the second quarter worth about $350,000. SG Americas Securities LLC increased its holdings in shares of NewJersey Resources by 127.1% in the second quarter. SG Americas Securities LLC now owns 19,637 shares of the utilities provider’s stock worth $880,000 after acquiring an additional 10,990 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in shares of NewJersey Resources during the third quarter worth about $1,136,000. Hsbc Holdings PLC lifted its holdings in shares of NewJersey Resources by 101.3% during the 2nd quarter. Hsbc Holdings PLC now owns 212,305 shares of the utilities provider’s stock valued at $9,464,000 after purchasing an additional 106,856 shares in the last quarter. Finally, Squarepoint Ops LLC increased its stake in NewJersey Resources by 348.3% during the 2nd quarter. Squarepoint Ops LLC now owns 123,816 shares of the utilities provider’s stock worth $5,549,000 after purchasing an additional 96,195 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

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.