NewJersey Resources (NYSE:NJR) Raised to “Hold” at Wall Street Zen

NewJersey Resources (NYSE:NJR) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Several other equities analysts have also commented on the stock. Williams Trading set a $55.00 price target on shares of NewJersey Resources in a research report on Tuesday, February 3rd. Argus upgraded NewJersey Resources to a “strong-buy” rating in a report on Thursday, January 22nd. Mizuho raised NewJersey Resources from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $51.00 to $54.00 in a research report on Wednesday, December 17th. New Street Research set a $54.00 price target on NewJersey Resources in a research report on Wednesday, December 17th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of NewJersey Resources in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, NewJersey Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.00.

NewJersey Resources Stock Performance

NewJersey Resources stock opened at $52.45 on Friday. The stock has a fifty day moving average price of $47.28 and a 200 day moving average price of $46.84. NewJersey Resources has a 52 week low of $43.46 and a 52 week high of $53.65. The firm has a market capitalization of $5.29 billion, a P/E ratio of 16.24 and a beta of 0.60. The company has a current ratio of 0.83, a quick ratio of 0.58 and a debt-to-equity ratio of 1.32.

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

Insider Activity

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 4,017 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was 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 of the company’s stock, valued at $1,768,499.90. This represents a 9.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.70% of the company’s stock.

Institutional Trading of NewJersey Resources

Several institutional investors have recently added to or reduced their stakes in NJR. Norges Bank acquired a new position in NewJersey Resources during the 2nd quarter worth $52,671,000. Millennium Management LLC lifted its position in shares of NewJersey Resources by 895.7% during the third quarter. Millennium Management LLC now owns 677,352 shares of the utilities provider’s stock worth $32,614,000 after purchasing an additional 609,323 shares during the last quarter. Energy Income Partners LLC grew its stake in NewJersey Resources by 145.7% in the second quarter. Energy Income Partners LLC now owns 798,661 shares of the utilities provider’s stock worth $35,796,000 after purchasing an additional 473,664 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in NewJersey Resources by 77.1% in the second quarter. Qube Research & Technologies Ltd now owns 730,300 shares of the utilities provider’s stock valued at $32,732,000 after buying an additional 317,932 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC bought a new stake in NewJersey Resources in the third quarter valued at about $13,351,000. 70.98% of the stock is 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.