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

Shares of NewJersey Resources Corporation (NYSE:NJR) have been assigned a consensus recommendation of “Buy” from the five brokerages that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $58.1667.

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

Insiders Place Their Bets

In other news, insider Christopher T. D’antuono sold 1,150 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was 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 of the company’s stock, valued at $171,159.90. This represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jane M. Kenny sold 8,000 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $56.10, for a total value of $448,800.00. Following the sale, the director directly owned 21,998 shares in the company, valued at $1,234,087.80. This trade represents a 26.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 12,150 shares of company stock valued at $682,261. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On NewJersey Resources

Several large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of NewJersey Resources by 6.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,363 shares of the utilities provider’s stock valued at $2,912,000 after acquiring an additional 3,422 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of NewJersey Resources by 65.7% during the first quarter. NewEdge Advisors LLC now owns 22,214 shares of the utilities provider’s stock valued at $1,090,000 after purchasing an additional 8,808 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in NewJersey Resources by 10.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 320,113 shares of the utilities provider’s stock valued at $15,705,000 after purchasing an additional 29,458 shares during the period. Jane Street Group LLC bought a new position in NewJersey Resources during the first quarter valued at approximately $8,907,000. Finally, Invesco Ltd. boosted its holdings in NewJersey Resources by 14.4% in the second quarter. Invesco Ltd. now owns 465,923 shares of the utilities provider’s stock worth $20,883,000 after purchasing an additional 58,795 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

NewJersey Resources Price Performance

NJR opened at $58.54 on Monday. The firm has a market cap of $5.91 billion, a PE ratio of 17.37 and a beta of 0.50. The stock has a 50-day moving average price of $56.45 and a 200-day moving average price of $54.01. NewJersey Resources has a 1 year low of $43.46 and a 1 year high of $60.69. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.80.

NewJersey Resources (NYSE:NJR) last announced its quarterly earnings data on Monday, May 4th. The utilities provider reported $2.20 EPS for the quarter, beating the consensus estimate of $1.89 by $0.31. The company 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%. NewJersey Resources’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.78 EPS. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. Sell-side analysts predict that NewJersey Resources will post 3.58 earnings per share for the current fiscal year.

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.