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

NewJersey Resources Corporation (NYSE:NJR) has been given a consensus rating of “Buy” by the five analysts that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $58.1667.

NJR has been the topic of several analyst reports. Weiss Ratings upgraded shares of NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. Mizuho boosted their price objective on NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, April 21st. Argus set a $63.00 price objective on NewJersey Resources in a research report on Wednesday, May 20th. Finally, Wells Fargo & Company initiated coverage on NewJersey Resources in a research report on Tuesday, May 12th. They issued an “overweight” rating and a $63.00 price objective for the company.

Insider Activity at NewJersey Resources

In other NewJersey Resources news, Director Jane M. Kenny sold 8,000 shares of the business’s stock in a transaction that occurred 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 sale, the director owned 21,998 shares in the company, valued at approximately $1,234,087.80. The trade was a 26.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher T. D’antuono sold 1,150 shares of the company’s stock in a transaction 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 completion of the sale, the insider owned 2,985 shares of the company’s stock, valued at approximately $171,159.90. This trade represents a 27.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 12,150 shares of company stock worth $682,261. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On NewJersey Resources

Several institutional investors have recently made changes to their positions in NJR. Norges Bank acquired a new stake in NewJersey Resources in the fourth quarter worth $60,075,000. Millennium Management LLC boosted its holdings in shares of NewJersey Resources by 895.7% during the third quarter. Millennium Management LLC now owns 677,352 shares of the utilities provider’s stock valued at $32,614,000 after acquiring an additional 609,323 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of NewJersey Resources by 10.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,934,165 shares of the utilities provider’s stock valued at $181,446,000 after acquiring an additional 367,844 shares during the period. Qube Research & Technologies Ltd boosted its holdings in shares of 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 acquiring an additional 317,932 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC acquired a new position in shares of NewJersey Resources during the third quarter valued at $13,351,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

NewJersey Resources Stock Performance

NJR stock opened at $56.90 on Thursday. The firm has a market cap of $5.74 billion, a price-to-earnings ratio of 16.88 and a beta of 0.50. The firm has a 50-day simple moving average of $55.87 and a two-hundred day simple moving average of $52.89. NewJersey Resources has a one year low of $43.46 and a one year high of $58.57. 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, beating the consensus estimate 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 net margin of 15.67% and a return on equity of 14.58%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.78 earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. On average, equities analysts forecast that NewJersey Resources will post 3.57 EPS for the current fiscal year.

NewJersey Resources Announces Dividend

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

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.