NewJersey Resources (NYSE:NJR) Upgraded to Strong-Buy at Argus

Argus upgraded shares of NewJersey Resources (NYSE:NJR) to a strong-buy rating in a research note released on Thursday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Weiss Ratings restated a “hold (c+)” rating on shares of NewJersey Resources in a research report on Monday, December 29th. Raymond James Financial reissued an “outperform” rating and set a $53.00 target price on shares of NewJersey Resources in a research report on Thursday, November 20th. Mizuho upgraded NewJersey Resources from a “neutral” rating to an “outperform” rating and increased their price target for the company from $51.00 to $54.00 in a report on Wednesday, December 17th. Wall Street Zen lowered shares of NewJersey Resources from a “hold” rating to a “sell” rating in a research note on Sunday, December 28th. Finally, New Street Research set a $54.00 price objective on shares of NewJersey Resources in a research report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.86.

NewJersey Resources Price Performance

NJR stock opened at $48.34 on Thursday. NewJersey Resources has a 52 week low of $43.46 and a 52 week high of $50.76. The company has a quick ratio of 0.40, a current ratio of 0.73 and a debt-to-equity ratio of 1.36. The company has a fifty day simple moving average of $46.70 and a two-hundred day simple moving average of $46.51. The firm has a market capitalization of $4.87 billion, a P/E ratio of 14.52 and a beta of 0.60.

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

NewJersey Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 11th will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, March 11th. NewJersey Resources’s payout ratio is 57.06%.

Insider Buying and Selling

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 4,017 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $46.46, for a total value of $186,629.82. Following the transaction, the chief operating officer directly owned 38,065 shares in the company, valued at $1,768,499.90. This represents a 9.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NJR. Measured Wealth Private Client Group LLC purchased a new position in NewJersey Resources during the 3rd quarter worth $28,000. Bessemer Group Inc. grew its position in shares of NewJersey Resources by 60.1% during the 3rd quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock worth $29,000 after buying an additional 230 shares in the last quarter. Tradewinds Capital Management LLC purchased a new position in shares of NewJersey Resources during the third quarter valued at $30,000. Cullen Frost Bankers Inc. increased its stake in shares of NewJersey Resources by 153.0% during the second quarter. Cullen Frost Bankers Inc. now owns 754 shares of the utilities provider’s stock valued at $34,000 after buying an additional 456 shares during the period. Finally, Neo Ivy Capital Management bought a new stake in shares of NewJersey Resources in the third quarter valued at about $48,000. Institutional investors own 70.98% of the company’s stock.

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.