NewJersey Resources Corporation (NYSE:NJR) Stock Has Consensus Target Price of $61.50

Shares of NewJersey Resources Corporation (NYSE:NJR) have earned an average rating of “Buy” from the seven research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $61.50.

Several analysts have recently weighed in on NJR shares. Weiss Ratings lowered shares of NewJersey Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Wall Street Zen raised shares of NewJersey Resources from a “sell” rating to a “hold” rating in a research note on Sunday, September 20th. JPMorgan Chase & Co. reduced their price target on shares of NewJersey Resources from $64.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, September 11th. Wells Fargo & Company downgraded shares of NewJersey Resources from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $63.00 to $61.00 in a research note on Wednesday, August 5th. Finally, New Street Research set a $68.00 price objective on shares of NewJersey Resources in a report on Monday, September 14th.

NewJersey Resources Stock Down 1.2%

Shares of NYSE NJR opened at $50.96 on Friday. The company has a market capitalization of $5.17 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 3.00 and a beta of 0.48. NewJersey Resources has a 52-week low of $43.46 and a 52-week high of $60.86. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.45 and a current ratio of 0.66. The company’s 50 day moving average price is $53.71 and its 200-day moving average price is $55.42.

NewJersey Resources (NYSE:NJR) last issued its quarterly earnings results on Monday, August 3rd. The utilities provider reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $349.18 million for the quarter, compared to analysts’ expectations of $342.13 million. NewJersey Resources had a net margin of 16.42% and a return on equity of 14.46%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. Equities analysts forecast that NewJersey Resources will post 3.59 earnings per share for the current year.

NewJersey Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 24th were paid a dividend of $0.50 per share. This is an increase from NewJersey Resources’s previous quarterly dividend of $0.4750. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $2.00 dividend on an annualized basis and a yield of 3.9%. NewJersey Resources’s dividend payout ratio (DPR) is currently 55.25%.

Insider Transactions at NewJersey Resources

In other NewJersey Resources news, COO Patrick Migliaccio sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $55.63, for a total value of $166,890.00. Following the completion of the sale, the chief operating officer owned 32,202 shares of the company’s stock, valued at approximately $1,791,397.26. This trade represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On NewJersey Resources

Institutional investors have recently modified their holdings of the company. Root Financial Partners LLC grew its position in NewJersey Resources by 56.5% in the 1st quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 190 shares during the period. Essential Partners LLC raised its holdings in NewJersey Resources by 67.3% during the second quarter. Essential Partners LLC now owns 686 shares of the utilities provider’s stock worth $38,000 after buying an additional 276 shares during the last quarter. CENTRAL TRUST Co lifted its stake in shares of NewJersey Resources by 172.7% in the first 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 grew its holdings in shares of NewJersey Resources by 72.9% during the second quarter. Roxbury Financial LLC now owns 885 shares of the utilities provider’s stock valued at $50,000 after buying an additional 373 shares during the last quarter. Finally, Fiduciary Financial Advisors acquired a new position in shares of NewJersey Resources during the second quarter valued at about $51,000. 70.98% of the stock is owned by institutional investors and hedge funds.

NewJersey Resources Company Profile

New Jersey Resources Corporation (NYSE: NJR) is an energy services holding company headquartered in Wall, New Jersey. Through its subsidiaries, the company provides natural gas distribution, transportation, storage, wholesale marketing, and related energy services, with operations focused primarily on New Jersey and the broader Mid-Atlantic region.

NJR’s principal utility subsidiary, New Jersey Natural Gas, delivers natural gas to residential, commercial, and industrial customers across much of New Jersey.