NewJersey Resources (NYSE:NJR) Sets New 1-Year High Following Strong Earnings

NewJersey Resources Corporation (NYSE:NJR)’s stock price hit a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $51.93 and last traded at $50.9860, with a volume of 68403 shares trading hands. The stock had previously closed at $50.05.

The utilities provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. NewJersey Resources had a net margin of 16.48% and a return on equity of 13.73%. The company had revenue of $604.85 million for the quarter, compared to analyst estimates of $546.90 million. During the same quarter in the previous year, the business earned $1.29 earnings per share. NewJersey Resources’s revenue was up 23.8% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.280-3.43 EPS.

NewJersey Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 11th will be given a dividend of $0.475 per share. The ex-dividend date is Wednesday, March 11th. This represents a $1.90 annualized dividend and a dividend yield of 3.7%. NewJersey Resources’s dividend payout ratio is presently 57.06%.

Analysts Set New Price Targets

NJR has been the topic of a number of research analyst reports. Mizuho raised shares of NewJersey Resources from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $51.00 to $54.00 in a research report on Wednesday, December 17th. Raymond James Financial restated an “outperform” rating and set a $53.00 price target on shares of NewJersey Resources in a research note on Thursday, November 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NewJersey Resources in a research note on Monday, December 29th. New Street Research set a $54.00 target price on shares of NewJersey Resources in a research report on Wednesday, December 17th. Finally, Argus upgraded shares of NewJersey Resources to a “strong-buy” rating in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $52.86.

Insider Activity at NewJersey Resources

In related news, COO Patrick J. Migliaccio sold 4,017 shares of NewJersey Resources stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $46.46, for a total transaction of $186,629.82. Following the sale, the chief operating officer directly owned 38,065 shares in the company, valued at approximately $1,768,499.90. This trade represents a 9.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On NewJersey Resources

Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in NewJersey Resources by 3.8% in the third quarter. Dimensional Fund Advisors LP now owns 3,566,321 shares of the utilities provider’s stock valued at $171,717,000 after acquiring an additional 130,831 shares during the last quarter. Geode Capital Management LLC lifted its stake in NewJersey Resources by 0.7% in the second quarter. Geode Capital Management LLC now owns 2,545,394 shares of the utilities provider’s stock valued at $114,097,000 after purchasing an additional 16,954 shares during the last quarter. Northern Trust Corp grew its holdings in NewJersey Resources by 1.1% during the third quarter. Northern Trust Corp now owns 1,335,344 shares of the utilities provider’s stock valued at $64,297,000 after purchasing an additional 14,512 shares during the period. Norges Bank purchased a new stake in NewJersey Resources in the second quarter worth $52,671,000. Finally, First Trust Advisors LP increased its position in NewJersey Resources by 10.7% in the third quarter. First Trust Advisors LP now owns 1,158,719 shares of the utilities provider’s stock worth $55,792,000 after buying an additional 111,696 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

NewJersey Resources Stock Performance

The company has a debt-to-equity ratio of 1.36, a current ratio of 0.73 and a quick ratio of 0.40. The company has a 50 day simple moving average of $46.94 and a 200-day simple moving average of $46.67. The stock has a market capitalization of $5.17 billion, a P/E ratio of 15.40 and a beta of 0.60.

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.