NewJersey Resources (NYSE:NJR) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

NewJersey Resources Corporation (NYSE:NJR) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $53.49 and traded as high as $58.17. NewJersey Resources shares last traded at $57.9390, with a volume of 486,492 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NJR shares. Argus set a $63.00 target price on NewJersey Resources in a research report on Wednesday, May 20th. Weiss Ratings upgraded NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. Wells Fargo & Company began coverage on NewJersey Resources in a research report on Tuesday, May 12th. They set an “overweight” rating and a $63.00 price target on the stock. Finally, Mizuho boosted their price objective on NewJersey Resources from $54.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $58.17.

NewJersey Resources Price Performance

The stock has a 50 day moving average of $56.14 and a two-hundred day moving average of $53.52. The stock has a market cap of $5.89 billion, a PE ratio of 17.31 and a beta of 0.50. 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 posted its quarterly earnings data on Monday, May 4th. The utilities provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.31. NewJersey Resources had a return on equity of 14.58% and a net margin of 15.67%.The firm had revenue of $939.40 million for the quarter, compared to the consensus estimate of $849.95 million. During the same quarter in the previous year, the company earned $1.78 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. Equities analysts anticipate that NewJersey Resources Corporation will post 3.57 EPS for the current year.

NewJersey Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th were issued a dividend of $0.475 per share. The ex-dividend date was Wednesday, June 10th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.3%. NewJersey Resources’s payout ratio is currently 56.38%.

Insider Activity at NewJersey Resources

In other NewJersey Resources news, insider Christopher T. D’antuono sold 1,150 shares of NewJersey Resources stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $57.34, for a total transaction of $65,941.00. Following the transaction, the insider directly owned 2,985 shares in the company, valued at approximately $171,159.90. The trade was a 27.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Patrick J. Migliaccio sold 3,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $55.84, for a total transaction of $167,520.00. Following the sale, the chief operating officer directly owned 35,202 shares in the company, valued at approximately $1,965,679.68. This trade represents a 7.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 12,150 shares of company stock worth $682,261. 0.70% of the stock is owned by corporate insiders.

Institutional Trading of NewJersey Resources

Hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in NewJersey Resources by 6.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,363 shares of the utilities provider’s stock valued at $2,912,000 after buying an additional 3,422 shares during the period. NewEdge Advisors LLC lifted its stake in NewJersey Resources by 65.7% in the 1st quarter. NewEdge Advisors LLC now owns 22,214 shares of the utilities provider’s stock worth $1,090,000 after acquiring an additional 8,808 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in NewJersey Resources by 10.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 320,113 shares of the utilities provider’s stock worth $15,705,000 after acquiring an additional 29,458 shares during the period. Jane Street Group LLC acquired a new stake in NewJersey Resources during the 1st quarter worth about $8,907,000. Finally, Invesco Ltd. grew its stake in NewJersey Resources by 14.4% during the 2nd quarter. Invesco Ltd. now owns 465,923 shares of the utilities provider’s stock valued at $20,883,000 after acquiring an additional 58,795 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

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.