NewJersey Resources Corporation (NYSE:NJR) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of NewJersey Resources Corporation (NYSE:NJR) have been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $53.00.

A number of research firms recently commented on NJR. New Street Research set a $54.00 target price on shares of NewJersey Resources in a research note on Wednesday, December 17th. Argus upgraded NewJersey Resources to a “strong-buy” rating in a research report on Thursday, January 22nd. Weiss Ratings raised 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 price objective on shares of NewJersey Resources in a research report on Tuesday, February 3rd. Finally, Raymond James Financial reiterated an “outperform” rating on shares of NewJersey Resources in a research report on Tuesday, February 3rd.

Insider Transactions at NewJersey Resources

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 4,017 shares of NewJersey Resources stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $46.46, for a total transaction of $186,629.82. Following the transaction, the chief operating officer owned 38,065 shares of the company’s stock, valued at $1,768,499.90. This trade represents a 9.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by corporate insiders.

Institutional Trading of NewJersey Resources

A number of large investors have recently bought and sold shares of NJR. Norges Bank purchased a new position in NewJersey Resources during the fourth quarter valued at approximately $60,075,000. Millennium Management LLC grew its position in shares of NewJersey Resources by 895.7% during the 3rd quarter. Millennium Management LLC now owns 677,352 shares of the utilities provider’s stock valued at $32,614,000 after purchasing an additional 609,323 shares in the last quarter. Energy Income Partners LLC increased its holdings in shares of 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 during the period. Dimensional Fund Advisors LP raised its position in shares of NewJersey Resources by 10.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,934,165 shares of the utilities provider’s stock worth $181,446,000 after buying an additional 367,844 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in NewJersey Resources by 77.1% during 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 period. 70.98% of the stock is owned by hedge funds and other institutional investors.

NewJersey Resources Stock Performance

Shares of NYSE:NJR opened at $52.85 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.83 and a debt-to-equity ratio of 1.32. The firm has a market cap of $5.33 billion, a PE ratio of 16.36 and a beta of 0.60. The company’s 50 day moving average price is $48.66 and its two-hundred day moving average price is $47.29. NewJersey Resources has a 12-month low of $43.46 and a 12-month high of $54.70.

NewJersey Resources (NYSE:NJR) last released 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 firm had revenue of $604.85 million during the quarter, compared to analysts’ expectations of $546.90 million. During the same period in the prior year, the company earned $1.29 earnings per share. The company’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 predict that NewJersey Resources will post 3.15 earnings per share for the current year.

NewJersey Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 11th will be given a $0.475 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $1.90 annualized dividend and a yield of 3.6%. NewJersey Resources’s dividend payout ratio (DPR) is presently 58.82%.

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.