NewJersey Resources (NYSE:NJR) Upgraded at Mizuho

Mizuho upgraded shares of NewJersey Resources (NYSE:NJR) from a neutral rating to an outperform rating in a research note issued to investors on Wednesday morning, Marketbeat.com reports. Mizuho currently has $54.00 target price on the utilities provider’s stock, up from their prior target price of $51.00.

NJR has been the subject of a number of other research reports. Wall Street Zen downgraded NewJersey Resources from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. New Street Research set a $54.00 target price on shares of NewJersey Resources in a research report on Wednesday. Raymond James Financial reiterated an “outperform” rating and issued a $53.00 price target on shares of NewJersey Resources in a research note on Thursday, November 20th. Finally, Weiss Ratings lowered shares of NewJersey Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, December 10th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $52.86.

NewJersey Resources Price Performance

Shares of NYSE NJR opened at $46.30 on Wednesday. NewJersey Resources has a 1 year low of $43.46 and a 1 year high of $50.76. The stock has a market capitalization of $4.66 billion, a P/E ratio of 13.90 and a beta of 0.61. The company’s 50-day moving average is $46.16 and its 200 day moving average is $46.18. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.73 and a quick ratio of 0.40.

NewJersey Resources (NYSE:NJR) last posted its quarterly earnings data on Wednesday, November 19th. The utilities provider reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.01. NewJersey Resources had a return on equity of 13.73% and a net margin of 16.48%.The business had revenue of $336.08 million for the quarter, compared to analysts’ expectations of $307.30 million. During the same period in the previous year, the firm posted $0.89 EPS. The business’s revenue was down 15.1% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.030-3.180 EPS. On average, sell-side analysts expect that NewJersey Resources will post 3.15 earnings per share for the current year.

NewJersey Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 12th will be paid a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Friday, December 12th. NewJersey Resources’s dividend payout ratio is currently 57.06%.

Institutional Investors Weigh In On NewJersey Resources

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in NewJersey Resources by 3.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,566,321 shares of the utilities provider’s stock valued at $171,717,000 after acquiring an additional 130,831 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of NewJersey Resources by 0.7% in the second quarter. Geode Capital Management LLC now owns 2,545,394 shares of the utilities provider’s stock worth $114,097,000 after purchasing an additional 16,954 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of 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 purchasing an additional 14,512 shares in the last quarter. Norges Bank purchased a new stake in shares of NewJersey Resources during the second quarter valued at $52,671,000. Finally, First Trust Advisors LP boosted its position in shares of NewJersey Resources by 10.7% during the third quarter. First Trust Advisors LP now owns 1,158,719 shares of the utilities provider’s stock valued at $55,792,000 after buying an additional 111,696 shares during 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.