NewJersey Resources Corporation (NYSE:NJR) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of NewJersey Resources Corporation (NYSE:NJR) have been given a consensus rating of “Moderate Buy” by the seven analysts that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $53.00.

A number of equities analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 13th. Williams Trading set a $55.00 target price on shares of NewJersey Resources in a research report on Tuesday, February 3rd. Mizuho raised shares of NewJersey Resources from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $51.00 to $54.00 in a research report on Wednesday, December 17th. Wall Street Zen upgraded shares of NewJersey Resources from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Argus raised NewJersey Resources to a “strong-buy” rating in a report on Thursday, January 22nd.

NewJersey Resources Price Performance

Shares of NJR stock opened at $54.00 on Tuesday. NewJersey Resources has a 12 month low of $43.46 and a 12 month high of $55.49. The company has a market capitalization of $5.45 billion, a P/E ratio of 16.72 and a beta of 0.57. The stock has a 50 day moving average of $52.07 and a two-hundred day moving average of $48.39. 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 earnings results on Monday, February 2nd. The utilities provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. The business had revenue of $604.85 million during the quarter, compared to analyst estimates of $546.90 million. NewJersey Resources had a return on equity of 13.06% and a net margin of 15.18%.NewJersey Resources’s revenue was up 23.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.29 earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.280-3.43 EPS. As a group, equities analysts expect that NewJersey Resources will post 3.15 EPS for the current year.

NewJersey Resources Dividend Announcement

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

Insider Buying and Selling at NewJersey Resources

In related news, CFO Roberto Bel sold 6,105 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $55.10, for a total value of $336,385.50. Following the sale, the chief financial officer owned 19,780 shares of the company’s stock, valued at $1,089,878. The trade was a 23.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Richard Reich sold 5,449 shares of the company’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $52.99, for a total value of $288,742.51. Following the completion of the sale, the senior vice president owned 26,975 shares in the company, valued at $1,429,405.25. This trade represents a 16.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.70% of the stock is owned by insiders.

Institutional Investors Weigh In On NewJersey Resources

Large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in NewJersey Resources by 6.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,363 shares of the utilities provider’s stock valued at $2,912,000 after purchasing an additional 3,422 shares during the last quarter. NewEdge Advisors LLC grew its stake in NewJersey Resources by 65.7% during the first quarter. NewEdge Advisors LLC now owns 22,214 shares of the utilities provider’s stock worth $1,090,000 after buying an additional 8,808 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in NewJersey Resources by 10.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 320,113 shares of the utilities provider’s stock worth $15,705,000 after buying an additional 29,458 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of NewJersey Resources during the first quarter worth approximately $8,907,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of NewJersey Resources during the second quarter worth approximately $605,000. 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.