NewJersey Resources (NYSE:NJR) Upgraded by Argus to “Strong-Buy” Rating

NewJersey Resources (NYSE:NJR) was upgraded by Argus to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Other research analysts have also issued reports about the stock. Wall Street Zen lowered shares of NewJersey Resources from a “hold” rating to a “sell” rating in a report on Sunday, December 28th. New Street Research set a $54.00 target price on shares of NewJersey Resources in a report on Wednesday, December 17th. Mizuho upgraded shares of NewJersey Resources from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $51.00 to $54.00 in a report on Wednesday, December 17th. Raymond James Financial reaffirmed an “outperform” rating and set a $53.00 price objective on shares of NewJersey Resources in a research report on Thursday, November 20th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of NewJersey Resources in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.86.

NewJersey Resources Stock Up 0.8%

Shares of NYSE NJR opened at $48.34 on Thursday. The firm’s 50-day moving average is $46.70 and its two-hundred day moving average is $46.51. NewJersey Resources has a 12-month low of $43.46 and a 12-month high of $50.76. The company has a market capitalization of $4.87 billion, a PE ratio of 14.52 and a beta of 0.60. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.73 and a quick ratio of 0.40.

NewJersey Resources (NYSE:NJR) last released its earnings results on Wednesday, November 19th. The utilities provider reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. The firm had revenue of $336.08 million during the quarter, compared to analyst estimates of $307.30 million. NewJersey Resources had a return on equity of 13.73% and a net margin of 16.48%.The business’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.030-3.180 EPS. Equities analysts anticipate that NewJersey Resources will post 3.15 EPS for the current fiscal year.

Insider Transactions at NewJersey Resources

In related news, COO Patrick J. Migliaccio sold 4,017 shares of NewJersey Resources stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $46.46, for a total transaction of $186,629.82. Following the completion of the transaction, the chief operating officer 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NJR. denkapparat Operations GmbH purchased a new position in shares of NewJersey Resources during the 2nd quarter valued at approximately $350,000. SG Americas Securities LLC grew its holdings in shares of NewJersey Resources by 127.1% in the second quarter. SG Americas Securities LLC now owns 19,637 shares of the utilities provider’s stock valued at $880,000 after purchasing an additional 10,990 shares during the period. Pacer Advisors Inc. acquired a new stake in shares of NewJersey Resources during the 3rd quarter worth approximately $1,136,000. Hsbc Holdings PLC increased its position in shares of NewJersey Resources by 101.3% during the second quarter. Hsbc Holdings PLC now owns 212,305 shares of the utilities provider’s stock valued at $9,464,000 after acquiring an additional 106,856 shares during the last quarter. Finally, Squarepoint Ops LLC raised its holdings in shares of NewJersey Resources by 348.3% in the 2nd quarter. Squarepoint Ops LLC now owns 123,816 shares of the utilities provider’s stock valued at $5,549,000 after buying an additional 96,195 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

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.