NewJersey Resources Corporation (NYSE:NJR) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of NewJersey Resources Corporation (NYSE:NJR) have been assigned a consensus recommendation of “Buy” from the five ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $57.8333.

A number of research firms have recently commented on NJR. Mizuho boosted their price target on NewJersey Resources from $54.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, April 21st. Weiss Ratings cut NewJersey Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Wells Fargo & Company downgraded NewJersey Resources from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $63.00 to $61.00 in a research note on Wednesday, August 5th. Finally, Argus set a $63.00 target price on NewJersey Resources in a research note on Wednesday, May 20th.

Insider Buying and Selling

In related news, insider Christopher T. D’antuono sold 1,150 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $57.34, for a total value of $65,941.00. Following the completion of the transaction, the insider owned 2,985 shares in the company, valued at $171,159.90. This trade represents a 27.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of NewJersey Resources

A number of institutional investors and hedge funds have recently bought and sold shares of NJR. Root Financial Partners LLC lifted its stake in shares of NewJersey Resources by 56.5% in the 1st quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 190 shares during the period. Fifth Third Bancorp boosted its position 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 purchasing an additional 210 shares in the last quarter. US Bancorp DE grew its stake in NewJersey Resources by 7.9% during the third quarter. US Bancorp DE now owns 3,127 shares of the utilities provider’s stock worth $151,000 after purchasing an additional 228 shares during the period. Essential Partners LLC grew its stake in NewJersey Resources by 67.3% during the second quarter. Essential Partners LLC now owns 686 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 276 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in NewJersey Resources by 25.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,391 shares of the utilities provider’s stock worth $76,000 after purchasing an additional 280 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

NewJersey Resources Stock Performance

NYSE:NJR opened at $55.54 on Friday. The stock has a 50 day simple moving average of $56.82 and a 200 day simple moving average of $55.41. The stock has a market cap of $5.64 billion, a P/E ratio of 15.34 and a beta of 0.50. NewJersey Resources has a 1-year low of $43.46 and a 1-year high of $60.86. The company has a current ratio of 0.66, a quick ratio of 0.45 and a debt-to-equity ratio of 1.21.

NewJersey Resources (NYSE:NJR) last announced its earnings results on Monday, August 3rd. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The company had revenue of $349.18 million during the quarter, compared to analysts’ expectations of $342.13 million. NewJersey Resources had a net margin of 16.42% and a return on equity of 14.46%. NewJersey Resources’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.15) earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. Research analysts anticipate that NewJersey Resources will post 3.59 earnings per share for the current year.

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.