NewJersey Resources (NYSE:NJR) Reaches New 12-Month High – Still a Buy?

Shares of NewJersey Resources Corporation (NYSE:NJR) hit a new 52-week high on Monday . The stock traded as high as $60.69 and last traded at $58.8050, with a volume of 627670 shares changing hands. The stock had previously closed at $58.60.

Analyst Ratings Changes

Several equities analysts recently issued reports on NJR shares. Argus set a $63.00 price target on NewJersey Resources in a research report on Wednesday, May 20th. Mizuho increased their price objective on NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, April 21st. Wells Fargo & Company initiated coverage on NewJersey Resources in a research note on Tuesday, May 12th. They set an “overweight” rating and a $63.00 price objective for the company. Finally, Weiss Ratings upgraded shares of NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to MarketBeat.com, NewJersey Resources presently has an average rating of “Buy” and a consensus price target of $58.17.

NewJersey Resources Trading Up 0.3%

The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.80 and a current ratio of 0.94. The stock has a market capitalization of $5.93 billion, a P/E ratio of 17.50 and a beta of 0.50. The stock has a 50-day moving average price of $56.45 and a two-hundred day moving average price of $54.01.

NewJersey Resources (NYSE:NJR) last announced its earnings results on Monday, May 4th. The utilities provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.31. The company had revenue of $939.40 million during the quarter, compared to the consensus estimate of $849.95 million. NewJersey Resources had a return on equity of 14.58% and a net margin of 15.67%.The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.78 earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. On average, research analysts forecast that NewJersey Resources Corporation will post 3.58 EPS for the current fiscal year.

Insider Transactions at NewJersey Resources

In other news, Director Jane M. Kenny sold 8,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $56.10, for a total value of $448,800.00. Following the completion of the sale, the director directly owned 21,998 shares of the company’s stock, valued at approximately $1,234,087.80. This trade represents a 26.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christopher T. D’antuono sold 1,150 shares of NewJersey Resources stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $57.34, for a total transaction of $65,941.00. Following the sale, the insider directly owned 2,985 shares in the company, valued at $171,159.90. The trade was a 27.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 12,150 shares of company stock valued at $682,261. Company insiders own 0.70% of the company’s stock.

Institutional Trading of NewJersey Resources

Several institutional investors and hedge funds have recently bought and sold shares of NJR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of NewJersey Resources by 6.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,363 shares of the utilities provider’s stock worth $2,912,000 after acquiring an additional 3,422 shares in the last quarter. NewEdge Advisors LLC boosted its position 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of 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 in the last quarter. Jane Street Group LLC purchased a new position in NewJersey Resources during the first quarter valued at $8,907,000. Finally, Invesco Ltd. grew its position in shares of NewJersey Resources by 14.4% in the 2nd quarter. Invesco Ltd. now owns 465,923 shares of the utilities provider’s stock worth $20,883,000 after buying an additional 58,795 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

NewJersey Resources Company Profile

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.