NewJersey Resources Corporation (NYSE:NJR) Receives Average Rating of “Buy” from Brokerages

Shares of NewJersey Resources Corporation (NYSE:NJR) have received a consensus recommendation of “Buy” from the five research firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $58.1667.

Several equities analysts have recently weighed in on NJR shares. Wells Fargo & Company started coverage on shares of NewJersey Resources in a research report on Tuesday, May 12th. They issued an “overweight” rating and a $63.00 price objective on the stock. Weiss Ratings raised shares of NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. Wall Street Zen raised shares of NewJersey Resources from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Mizuho increased their price objective on shares of NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, April 21st. Finally, Argus set a $63.00 price objective on shares of NewJersey Resources in a research report on Wednesday, May 20th.

NewJersey Resources Stock Performance

NYSE NJR opened at $54.72 on Friday. The firm has a market capitalization of $5.52 billion, a P/E ratio of 16.24 and a beta of 0.50. The firm’s fifty day moving average price is $55.98 and its two-hundred day moving average price is $51.85. NewJersey Resources has a 1 year low of $43.46 and a 1 year high of $58.57. The company has a current ratio of 0.94, a quick ratio of 0.80 and a debt-to-equity ratio of 1.24.

NewJersey Resources (NYSE:NJR) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $2.20 earnings per share 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 analyst estimates of $849.95 million. NewJersey Resources had a net margin of 15.67% and a return on equity of 14.58%. The company’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.78 earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. As a group, research analysts anticipate that NewJersey Resources will post 3.5 EPS for the current year.

NewJersey Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th will be given a $0.475 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.90 annualized dividend and a dividend yield of 3.5%. NewJersey Resources’s dividend payout ratio is presently 56.38%.

Insiders Place Their Bets

In related news, COO Patrick J. Migliaccio sold 3,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $55.84, for a total value of $167,520.00. Following the transaction, the chief operating officer directly owned 35,202 shares in the company, valued at approximately $1,965,679.68. This represents a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Roberto Bel sold 6,105 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $55.10, for a total transaction of $336,385.50. Following the completion of the transaction, the chief financial officer owned 19,780 shares in the company, valued at $1,089,878. This trade represents a 23.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 23,704 shares of company stock valued at $1,307,389 in the last three months. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On NewJersey Resources

Several institutional investors and hedge funds have recently modified their holdings of the business. Root Financial Partners LLC grew its stake in shares of NewJersey Resources by 56.5% in the 1st quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 190 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of NewJersey Resources by 19.1% in the 4th quarter. Fifth Third Bancorp now owns 1,311 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 210 shares in the last quarter. US Bancorp DE grew its stake in shares of NewJersey Resources by 7.9% in the 3rd quarter. US Bancorp DE now owns 3,127 shares of the utilities provider’s stock worth $151,000 after acquiring an additional 228 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of NewJersey Resources by 60.1% in the 3rd quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 230 shares in the last quarter. Finally, Horizon Investment Services LLC grew its stake in shares of NewJersey Resources by 4.7% in the 3rd quarter. Horizon Investment Services LLC now owns 6,057 shares of the utilities provider’s stock worth $292,000 after acquiring an additional 273 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

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.