NewJersey Resources (NYSE:NJR) Stock Rating Lowered by Wall Street Zen

NewJersey Resources (NYSE:NJR) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities analysts have also commented on the stock. Argus set a $63.00 price objective on shares of NewJersey Resources in a research note on Wednesday, May 20th. JPMorgan Chase & Co. cut their target price on shares of NewJersey Resources from $64.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday. Weiss Ratings lowered NewJersey Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Finally, Wells Fargo & Company cut NewJersey Resources from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $63.00 to $61.00 in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $58.57.

NewJersey Resources Price Performance

NJR stock opened at $53.12 on Friday. NewJersey Resources has a one year low of $43.46 and a one year high of $60.86. The firm has a 50-day moving average of $56.12 and a two-hundred day moving average of $55.73. The firm has a market capitalization of $5.39 billion, a PE ratio of 14.68, a P/E/G ratio of 2.96 and a beta of 0.50. The company has a current ratio of 0.66, a quick ratio of 0.45 and a debt-to-equity ratio of 1.21.

NewJersey Resources (NYSE:NJR) last released its earnings results on Monday, August 3rd. The utilities provider reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. NewJersey Resources had a net margin of 16.42% and a return on equity of 14.46%. The business had revenue of $349.18 million for the quarter, compared to the consensus estimate of $342.13 million. During the same period last year, the firm posted ($0.15) earnings per share. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. On average, analysts forecast that NewJersey Resources will post 3.59 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Patrick Migliaccio sold 3,000 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $55.63, for a total transaction of $166,890.00. Following the transaction, the chief operating officer owned 32,202 shares in the company, valued at $1,791,397.26. This represents a 8.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NewJersey Resources

Several institutional investors and hedge funds have recently modified their holdings of NJR. Root Financial Partners LLC lifted its position in shares of NewJersey Resources by 56.5% during the first quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 190 shares in the last quarter. US Bancorp DE grew its stake in shares of NewJersey Resources by 7.9% during the third quarter. US Bancorp DE now owns 3,127 shares of the utilities provider’s stock valued at $151,000 after purchasing an additional 228 shares during the last quarter. Essential Partners LLC increased its holdings in shares of NewJersey Resources by 67.3% in the second quarter. Essential Partners LLC now owns 686 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 276 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of NewJersey Resources by 25.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,391 shares of the utilities provider’s stock valued at $76,000 after purchasing an additional 280 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in NewJersey Resources by 42.3% in the 1st quarter. Parallel Advisors LLC now owns 985 shares of the utilities provider’s stock worth $54,000 after purchasing an additional 293 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

About NewJersey Resources

New Jersey Resources Corporation (NYSE: NJR) is an energy services holding company based in Wall, New Jersey. Through its subsidiaries, the company provides regulated natural gas distribution, energy management, wholesale energy services, renewable energy development, and natural gas storage and transportation solutions.

Its principal subsidiary, New Jersey Natural Gas, operates a regulated natural gas utility serving residential, commercial, and industrial customers in central and northern New Jersey.