NewJersey Resources (NYSE:NJR) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

NewJersey Resources Corporation (NYSE:NJR)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $53.49 and traded as high as $58.17. NewJersey Resources shares last traded at $57.9390, with a volume of 486,492 shares traded.

Wall Street Analyst Weigh In

NJR has been the topic of a number of research reports. Argus set a $63.00 target price on shares of NewJersey Resources in a research report on Wednesday, May 20th. Weiss Ratings raised shares of NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. Mizuho raised their price target on shares of NewJersey Resources from $54.00 to $61.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 21st. Finally, Wells Fargo & Company began coverage on shares of NewJersey Resources in a report on Tuesday, May 12th. They set an “overweight” rating and a $63.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat, NewJersey Resources has a consensus rating of “Buy” and a consensus price target of $58.17.

NewJersey Resources Stock Performance

The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.80. The firm has a market cap of $5.85 billion, a P/E ratio of 17.19 and a beta of 0.50. The stock’s 50 day moving average is $56.08 and its two-hundred day moving average is $53.49.

NewJersey Resources (NYSE:NJR) last announced its quarterly earnings results on Monday, May 4th. The utilities provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. The firm had revenue of $939.40 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.78 earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. As a group, equities analysts predict that NewJersey Resources Corporation will post 3.57 EPS for the current year.

NewJersey Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th were issued a $0.475 dividend. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.90 annualized dividend and a dividend yield of 3.3%. NewJersey Resources’s dividend payout ratio is presently 56.38%.

Insiders Place Their Bets

In other news, COO Patrick J. Migliaccio sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $55.84, for a total transaction of $167,520.00. Following the completion of the sale, the chief operating officer owned 35,202 shares of the company’s stock, valued at approximately $1,965,679.68. This trade represents a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christopher T. D’antuono sold 1,150 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $57.34, for a total value of $65,941.00. Following the sale, the insider directly owned 2,985 shares of the company’s stock, valued at $171,159.90. This represents a 27.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 12,150 shares of company stock valued at $682,261. 0.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NewJersey Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of NewJersey Resources during the fourth quarter worth approximately $60,075,000. Millennium Management LLC lifted its holdings in NewJersey Resources by 895.7% during the third quarter. Millennium Management LLC now owns 677,352 shares of the utilities provider’s stock worth $32,614,000 after acquiring an additional 609,323 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of NewJersey Resources by 10.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,934,165 shares of the utilities provider’s stock valued at $181,446,000 after purchasing an additional 367,844 shares during the period. Qube Research & Technologies Ltd increased its position in shares of NewJersey Resources by 77.1% during the second quarter. Qube Research & Technologies Ltd now owns 730,300 shares of the utilities provider’s stock worth $32,732,000 after acquiring an additional 317,932 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of NewJersey Resources in the 3rd quarter valued at about $13,351,000. Institutional investors own 70.98% of the company’s stock.

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.