NewJersey Resources (NYSE:NJR) Research Coverage Started at Huntington

Huntington initiated coverage on shares of NewJersey Resources (NYSE:NJR) in a research report released on Monday, Marketbeat Ratings reports. The firm issued an outperform rating and a $68.00 price target on the utilities provider’s stock.

Other equities research analysts also recently issued research reports about the company. Weiss Ratings downgraded NewJersey Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Argus set a $63.00 target price on NewJersey Resources in a research report on Wednesday, May 20th. Wells Fargo & Company cut NewJersey Resources from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $63.00 to $61.00 in a research report on Wednesday, August 5th. New Street Research set a $68.00 target price on NewJersey Resources in a research note on Monday. Finally, Wall Street Zen cut NewJersey Resources from a “hold” rating to a “sell” rating in a report on Saturday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, NewJersey Resources has an average rating of “Buy” and a consensus target price of $61.50.

NewJersey Resources Price Performance

Shares of NYSE:NJR opened at $53.56 on Monday. The company has a 50 day moving average of $55.89 and a 200 day moving average of $55.72. The company has a current ratio of 0.66, a quick ratio of 0.45 and a debt-to-equity ratio of 1.21. The stock has a market cap of $5.43 billion, a P/E ratio of 14.80, a P/E/G ratio of 2.96 and a beta of 0.50. NewJersey Resources has a 12 month low of $43.46 and a 12 month high of $60.86.

NewJersey Resources (NYSE:NJR) last posted its earnings results on Monday, August 3rd. The utilities provider reported $0.11 earnings per share (EPS) 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 analysts’ expectations of $342.13 million. During the same period in the prior year, the company posted ($0.15) EPS. The business’s revenue for the quarter 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. As a group, sell-side analysts forecast that NewJersey Resources will post 3.6 EPS for the current fiscal year.

NewJersey Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 24th will be given a dividend of $0.50 per share. This is an increase from NewJersey Resources’s previous quarterly dividend of $0.47. The ex-dividend date is Thursday, September 24th. This represents a $2.00 annualized dividend and a dividend yield of 3.7%. NewJersey Resources’s dividend payout ratio is 52.49%.

Insider Buying and Selling at NewJersey Resources

In other news, COO Patrick Migliaccio sold 3,000 shares of NewJersey Resources 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 completion of the sale, the chief operating officer directly owned 32,202 shares of the company’s stock, valued at approximately $1,791,397.26. The trade was a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On NewJersey Resources

Large investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC lifted its stake in 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 during the last quarter. Essential Partners LLC increased its position in shares of NewJersey Resources by 67.3% during the 2nd quarter. Essential Partners LLC now owns 686 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 276 shares during the last quarter. CENTRAL TRUST Co raised its holdings in shares of NewJersey Resources by 172.7% during the 1st quarter. CENTRAL TRUST Co now owns 818 shares of the utilities provider’s stock valued at $45,000 after buying an additional 518 shares in the last quarter. Roxbury Financial LLC raised its holdings in shares of NewJersey Resources by 72.9% during the 2nd quarter. Roxbury Financial LLC now owns 885 shares of the utilities provider’s stock valued at $50,000 after buying an additional 373 shares in the last quarter. Finally, Fiduciary Financial Advisors bought a new stake in NewJersey Resources in the 2nd quarter worth approximately $51,000. Hedge funds and other institutional investors 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.