NewJersey Resources Corporation (NYSE:NJR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

NewJersey Resources Corporation (NYSE:NJR) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $53.00.

NJR has been the topic of a number of recent analyst reports. Argus raised NewJersey Resources to a “strong-buy” rating in a research report on Thursday, January 22nd. New Street Research set a $54.00 target price on NewJersey Resources in a research note on Wednesday, December 17th. Raymond James Financial reissued an “outperform” rating on shares of NewJersey Resources in a report on Tuesday, February 3rd. Mizuho upgraded NewJersey Resources from a “neutral” rating to an “outperform” rating and increased their price target for the company from $51.00 to $54.00 in a research note on Wednesday, December 17th. Finally, Wall Street Zen raised NewJersey Resources from a “sell” rating to a “hold” rating in a report on Saturday, February 7th.

Insider Activity at NewJersey Resources

In related news, COO Patrick J. Migliaccio sold 4,017 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $46.46, for a total value of $186,629.82. Following the transaction, the chief operating officer owned 38,065 shares in the company, valued at approximately $1,768,499.90. This represents a 9.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On NewJersey Resources

A number of institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC boosted its stake in NewJersey Resources by 127.1% in the 2nd 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. Hsbc Holdings PLC increased its position in NewJersey Resources by 101.3% during the 2nd quarter. Hsbc Holdings PLC now owns 212,305 shares of the utilities provider’s stock worth $9,464,000 after buying an additional 106,856 shares during the period. Pacer Advisors Inc. acquired a new stake in shares of NewJersey Resources during the third quarter worth $1,136,000. Thrivent Financial for Lutherans lifted its holdings in shares of NewJersey Resources by 200.1% during the third quarter. Thrivent Financial for Lutherans now owns 71,444 shares of the utilities provider’s stock worth $3,440,000 after buying an additional 47,635 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in shares of NewJersey Resources by 348.3% in the second quarter. Squarepoint Ops LLC now owns 123,816 shares of the utilities provider’s stock valued at $5,549,000 after acquiring an additional 96,195 shares during the period. Institutional investors own 70.98% of the company’s stock.

NewJersey Resources Stock Performance

Shares of NJR stock opened at $54.90 on Tuesday. The stock has a market cap of $5.54 billion, a P/E ratio of 17.00 and a beta of 0.57. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.83 and a quick ratio of 0.58. The company has a fifty day moving average price of $51.35 and a two-hundred day moving average price of $48.16. NewJersey Resources has a one year low of $43.46 and a one year high of $55.49.

NewJersey Resources (NYSE:NJR) last released its quarterly earnings data on Monday, February 2nd. The utilities provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.22. The company had revenue of $604.85 million for the quarter, compared to analyst estimates of $546.90 million. NewJersey Resources had a net margin of 15.18% and a return on equity of 13.06%. NewJersey Resources’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.29 EPS. NewJersey Resources has set its FY 2026 guidance at 3.280-3.43 EPS. As a group, equities analysts predict that NewJersey Resources will post 3.15 EPS for the current year.

NewJersey Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th will be paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Wednesday, March 11th. NewJersey Resources’s dividend payout ratio (DPR) is currently 58.82%.

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.