NewJersey Resources (NYSE:NJR) Upgraded at Wells Fargo & Company

NewJersey Resources (NYSE:NJR) was upgraded by research analysts at Wells Fargo & Company to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Williams Trading set a $55.00 target price on NewJersey Resources in a report on Tuesday, February 3rd. Wall Street Zen upgraded NewJersey Resources from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Mizuho increased their price target on NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, April 21st. Argus upgraded NewJersey Resources to a “strong-buy” rating in a research note on Thursday, January 22nd. Finally, Weiss Ratings upgraded NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 13th. Two analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. According to MarketBeat, NewJersey Resources currently has a consensus rating of “Buy” and an average price target of $56.17.

NewJersey Resources Trading Up 2.0%

Shares of NJR stock opened at $56.94 on Monday. The stock’s fifty day moving average price is $55.27 and its two-hundred day moving average price is $50.54. The company has a market cap of $5.75 billion, a PE ratio of 16.90 and a beta of 0.51. NewJersey Resources has a fifty-two week low of $43.46 and a fifty-two week high of $57.85. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.80 and a current ratio of 0.94.

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

Insider Activity

In other news, Director Jane M. Kenny sold 8,000 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $56.10, for a total value of $448,800.00. Following the completion of the transaction, the director directly owned 21,998 shares in the company, valued at approximately $1,234,087.80. This represents a 26.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Roberto Bel sold 6,105 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $55.10, for a total value of $336,385.50. Following the completion of the transaction, the chief financial officer owned 19,780 shares of the company’s stock, valued at $1,089,878. The trade was a 23.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 19,554 shares of company stock worth $1,073,928. Insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Root Financial Partners LLC raised its position 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 purchasing an additional 190 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new position in NewJersey Resources during the 3rd quarter worth $28,000. Bessemer Group Inc. raised its position in NewJersey Resources by 60.1% during the 3rd quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 230 shares during the last quarter. Torren Management LLC bought a new position in NewJersey Resources during the 4th quarter worth $35,000. Finally, CENTRAL TRUST Co raised its position in NewJersey Resources by 172.7% during the 1st quarter. CENTRAL TRUST Co now owns 818 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 518 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

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.