NewJersey Resources (NYSE:NJR) Now Covered by Analysts at Huntington

Equities researchers at Huntington assumed coverage on shares of NewJersey Resources (NYSE:NJR) in a note issued to investors on Monday, Marketbeat reports. The firm set an “outperform” rating and a $68.00 price target on the utilities provider’s stock. Huntington’s price objective points to a potential upside of 27.22% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company lowered shares of NewJersey Resources from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $63.00 to $61.00 in a research report on Wednesday, August 5th. New Street Research set a $68.00 target price on NewJersey Resources in a research report on Monday. JPMorgan Chase & Co. lowered their price target on shares of NewJersey Resources from $64.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday. Argus set a $63.00 price objective on shares of NewJersey Resources in a report on Wednesday, May 20th. Finally, Wall Street Zen cut shares of NewJersey Resources from a “hold” rating to a “sell” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $61.50.

NewJersey Resources Stock Performance

Shares of NYSE:NJR traded up $0.29 during trading on Monday, reaching $53.45. The stock had a trading volume of 18,655 shares, compared to its average volume of 594,258. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 2.96 and a beta of 0.50. NewJersey Resources has a 52 week low of $43.46 and a 52 week high of $60.86. The company has a quick ratio of 0.45, a current ratio of 0.66 and a debt-to-equity ratio of 1.21. The stock has a fifty day simple moving average of $56.12 and a two-hundred day simple moving average of $55.73.

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

Insider Buying and Selling

In related news, COO Patrick Migliaccio sold 3,000 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $55.63, for a total transaction of $166,890.00. Following the completion of the sale, the chief operating officer directly owned 32,202 shares of the company’s stock, valued at $1,791,397.26. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by company insiders.

Institutional Trading of NewJersey Resources

Several large investors have recently made changes to their positions in NJR. Measured Wealth Private Client Group LLC bought a new position in shares of NewJersey Resources in the third quarter valued at about $28,000. Root Financial Partners LLC grew its holdings in NewJersey Resources by 56.5% during the 1st quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 190 shares during the last quarter. Essential Partners LLC increased its position in NewJersey Resources by 67.3% in the 2nd quarter. Essential Partners LLC now owns 686 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 276 shares in the last quarter. Smartleaf Asset Management LLC increased its position in NewJersey Resources by 118.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 933 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 505 shares in the last quarter. Finally, CENTRAL TRUST Co raised its stake in shares of NewJersey Resources by 172.7% in the first quarter. CENTRAL TRUST Co now owns 818 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 518 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

About NewJersey Resources

New Jersey Resources Corporation (NYSE: NJR) is an energy services holding company based in Wall, New Jersey. Through its subsidiaries, the company provides regulated natural gas distribution, energy management, wholesale energy services, renewable energy development, and natural gas storage and transportation solutions.

Its principal subsidiary, New Jersey Natural Gas, operates a regulated natural gas utility serving residential, commercial, and industrial customers in central and northern New Jersey.