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

NewJersey Resources Corporation (NYSE:NJR) has been given an average rating of “Buy” by the five brokerages that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $54.80.

Several brokerages have weighed in on NJR. Argus upgraded shares of NewJersey Resources to a “strong-buy” rating in a research note on Thursday, January 22nd. 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. Mizuho raised their target price on shares of NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, April 21st. Raymond James Financial restated an “outperform” rating on shares of NewJersey Resources in a research note on Tuesday, February 3rd. Finally, Williams Trading set a $55.00 target price on shares of NewJersey Resources in a research note on Tuesday, February 3rd.

Insider Buying and Selling at NewJersey Resources

In other news, CFO Roberto Bel sold 6,105 shares of NewJersey Resources stock in a transaction on Monday, March 16th. The shares were 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 directly owned 19,780 shares in the company, valued at approximately $1,089,878. The trade was a 23.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Richard Reich sold 5,449 shares of NewJersey Resources stock in a transaction 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 owned 26,975 shares of the company’s stock, valued at $1,429,405.25. The trade was a 16.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On NewJersey Resources

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in shares of NewJersey Resources by 5.3% during the first quarter. Dimensional Fund Advisors LP now owns 4,141,330 shares of the utilities provider’s stock worth $227,447,000 after buying an additional 207,165 shares during the period. Geode Capital Management LLC lifted its stake in shares of NewJersey Resources by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,629,373 shares of the utilities provider’s stock worth $121,285,000 after buying an additional 10,448 shares during the period. Northern Trust Corp lifted its stake in shares of NewJersey Resources by 1.1% during the third quarter. Northern Trust Corp now owns 1,335,344 shares of the utilities provider’s stock worth $64,297,000 after buying an additional 14,512 shares during the period. Norges Bank acquired a new stake in shares of NewJersey Resources during the fourth quarter worth $60,075,000. Finally, Morgan Stanley lifted its stake in shares of NewJersey Resources by 19.4% during the fourth quarter. Morgan Stanley now owns 1,283,533 shares of the utilities provider’s stock worth $59,197,000 after buying an additional 208,388 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

NewJersey Resources Price Performance

Shares of NJR opened at $55.53 on Wednesday. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 16.48 and a beta of 0.51. NewJersey Resources has a twelve month low of $43.46 and a twelve month high of $57.85. The company has a quick ratio of 0.80, a current ratio of 0.94 and a debt-to-equity ratio of 1.24. The company has a 50 day moving average of $55.13 and a two-hundred day moving average of $50.33.

NewJersey Resources (NYSE:NJR) last announced its earnings results on Monday, May 4th. The utilities provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.31. The company had revenue of $939.40 million during the quarter, compared to the consensus estimate of $849.95 million. NewJersey Resources had a net margin of 15.67% and a return on equity of 14.58%. NewJersey Resources’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm earned $1.78 earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. As a group, analysts predict that NewJersey Resources will post 3.5 earnings per share for the current fiscal year.

NewJersey Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th will be paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Wednesday, June 10th. NewJersey Resources’s payout ratio is presently 56.38%.

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.