NewJersey Resources Corporation (NYSE:NJR) Given Average Recommendation of “Moderate Buy” by Brokerages

NewJersey Resources Corporation (NYSE:NJR) has been given an average rating of “Moderate Buy” by the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $52.8571.

A number of equities research analysts have commented on the company. Mizuho upgraded NewJersey Resources from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $51.00 to $54.00 in a research report on Wednesday, December 17th. Raymond James Financial reiterated an “outperform” rating and set a $53.00 price target on shares of NewJersey Resources in a research report on Thursday, November 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of NewJersey Resources in a research note on Monday, December 29th. Argus raised shares of NewJersey Resources to a “strong-buy” rating in a research report on Thursday, January 22nd. Finally, Wall Street Zen downgraded shares of NewJersey Resources from a “hold” rating to a “sell” rating in a report on Sunday, December 28th.

NewJersey Resources Stock Up 0.4%

NYSE NJR opened at $49.45 on Monday. The business’s fifty day simple moving average is $46.91 and its 200-day simple moving average is $46.64. 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 firm has a market cap of $4.98 billion, a PE ratio of 14.85 and a beta of 0.60. NewJersey Resources has a 52 week low of $43.46 and a 52 week high of $50.76.

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

NewJersey Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th will be paid a $0.475 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.8%. NewJersey Resources’s payout ratio is presently 57.06%.

Insiders Place Their Bets

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 4,017 shares of the business’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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NewJersey Resources

A number of hedge funds and other institutional investors have recently modified their holdings of NJR. Measured Wealth Private Client Group LLC purchased a new stake in NewJersey Resources during the 3rd quarter worth about $28,000. Bessemer Group Inc. boosted its holdings in NewJersey Resources by 60.1% in the third quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 230 shares in the last quarter. Tradewinds Capital Management LLC acquired a new stake in NewJersey Resources during the third quarter worth approximately $30,000. Cullen Frost Bankers Inc. raised its holdings in NewJersey Resources by 153.0% during the second quarter. Cullen Frost Bankers Inc. now owns 754 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 456 shares in the last quarter. Finally, Torren Management LLC acquired a new position in shares of NewJersey Resources in the 4th quarter valued at $35,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

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.