NewJersey Resources (NYSE:NJR) Sets New 52-Week High – Still a Buy?

Shares of NewJersey Resources Corporation (NYSE:NJR) reached a new 52-week high during trading on Monday . The stock traded as high as $55.57 and last traded at $55.5430, with a volume of 116034 shares traded. The stock had previously closed at $54.59.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NJR shares. Wall Street Zen upgraded NewJersey Resources from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Mizuho upgraded 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. Williams Trading set a $55.00 price target on NewJersey Resources in a research note on Tuesday, February 3rd. Argus upgraded NewJersey Resources to a “strong-buy” rating in a report on Thursday, January 22nd. Finally, Weiss Ratings raised shares of NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, NewJersey Resources currently has an average rating of “Buy” and a consensus target price of $53.33.

NewJersey Resources Price Performance

The company has a market capitalization of $5.55 billion, a PE ratio of 17.03 and a beta of 0.57. The company has a current ratio of 0.83, a quick ratio of 0.58 and a debt-to-equity ratio of 1.32. The company’s 50 day moving average price is $52.91 and its 200-day moving average price is $48.72.

NewJersey Resources (NYSE:NJR) last issued its earnings results on Monday, February 2nd. The utilities provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.22. NewJersey Resources had a return on equity of 13.06% and a net margin of 15.18%.The business 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 posted $1.29 EPS. The business’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. On average, sell-side analysts forecast that NewJersey Resources Corporation will post 3.15 earnings per share for the current fiscal 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. This represents a $1.90 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, March 11th. NewJersey Resources’s payout ratio is currently 58.82%.

Insider Transactions at NewJersey Resources

In other news, CFO Roberto Bel sold 6,105 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $55.10, for a total transaction of $336,385.50. Following the completion of the sale, the chief financial officer owned 19,780 shares in the company, valued at approximately $1,089,878. The trade was a 23.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Richard Reich sold 5,449 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $52.99, for a total transaction of $288,742.51. Following the sale, the senior vice president directly owned 26,975 shares of the company’s stock, valued at approximately $1,429,405.25. This trade represents a 16.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NewJersey Resources

Several large investors have recently made changes to their positions in NJR. Fifth Third Bancorp lifted its holdings in shares of NewJersey Resources by 19.1% during the 4th quarter. Fifth Third Bancorp now owns 1,311 shares of the utilities provider’s stock valued at $60,000 after acquiring an additional 210 shares in the last quarter. US Bancorp DE increased its holdings in NewJersey Resources by 7.9% in the 3rd quarter. US Bancorp DE now owns 3,127 shares of the utilities provider’s stock valued at $151,000 after purchasing an additional 228 shares in the last quarter. Bessemer Group Inc. increased its holdings in NewJersey Resources by 60.1% in the 3rd 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. Horizon Investment Services LLC raised its position in NewJersey Resources by 4.7% in the third quarter. Horizon Investment Services LLC now owns 6,057 shares of the utilities provider’s stock valued at $292,000 after purchasing an additional 273 shares during the period. Finally, UMB Bank n.a. raised its position in NewJersey Resources by 19.7% in the third quarter. UMB Bank n.a. now owns 1,680 shares of the utilities provider’s stock valued at $81,000 after purchasing an additional 277 shares during the period. Institutional investors and hedge funds 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.