NewJersey Resources (NYSE:NJR) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

NewJersey Resources Corporation (NYSE:NJR) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $55.41 and traded as high as $56.03. NewJersey Resources shares last traded at $55.5360, with a volume of 433,369 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Mizuho boosted their target price on NewJersey Resources from $54.00 to $61.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 21st. Argus set a $63.00 price target on shares of NewJersey Resources in a research note on Wednesday, May 20th. Wells Fargo & Company downgraded shares of NewJersey Resources from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $63.00 to $61.00 in a research note on Wednesday, August 5th. Finally, Weiss Ratings lowered shares of NewJersey Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $57.83.

NewJersey Resources Stock Performance

The company has a quick ratio of 0.45, a current ratio of 0.66 and a debt-to-equity ratio of 1.21. The company has a fifty day moving average price of $56.83 and a 200 day moving average price of $55.41. The stock has a market cap of $5.65 billion, a PE ratio of 15.37 and a beta of 0.50.

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

Insider Buying and Selling

In other NewJersey Resources news, insider Christopher T. D’antuono sold 1,150 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $57.34, for a total transaction of $65,941.00. Following the completion of the sale, the insider owned 2,985 shares of the company’s stock, valued at $171,159.90. This represents a 27.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NewJersey Resources

Several hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its holdings in NewJersey Resources by 29.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 46,535 shares of the utilities provider’s stock worth $2,146,000 after buying an additional 10,666 shares during the period. World Investment Advisors purchased a new position in shares of NewJersey Resources during the fourth quarter valued at approximately $1,924,000. Norges Bank purchased a new position in shares of NewJersey Resources during the fourth quarter valued at approximately $60,075,000. Louisiana State Employees Retirement System purchased a new position in shares of NewJersey Resources during the first quarter valued at approximately $1,604,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of NewJersey Resources by 613.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 179,425 shares of the utilities provider’s stock valued at $9,854,000 after acquiring an additional 154,288 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

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.