Brokerages Set NewJersey Resources Corporation (NYSE:NJR) PT at $51.86

NewJersey Resources Corporation (NYSE:NJR) has earned an average rating of “Hold” from the seven ratings firms that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $51.8571.

A number of research firms have recently weighed in on NJR. Weiss Ratings reiterated a “buy (b-)” rating on shares of NewJersey Resources in a report on Thursday, December 4th. Raymond James Financial reaffirmed an “outperform” rating and set a $53.00 target price on shares of NewJersey Resources in a research note on Thursday, November 20th. Finally, Wall Street Zen downgraded shares of NewJersey Resources from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd.

NewJersey Resources Stock Performance

NewJersey Resources stock opened at $45.00 on Friday. The firm has a 50 day simple moving average of $46.19 and a 200-day simple moving average of $46.15. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of 13.51 and a beta of 0.61. 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 has a 1-year low of $43.46 and a 1-year high of $50.76.

NewJersey Resources (NYSE:NJR) last released its quarterly earnings data on Wednesday, November 19th. The utilities provider reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $336.08 million for the quarter, compared to analysts’ expectations of $307.30 million. NewJersey Resources had a return on equity of 13.73% and a net margin of 16.48%.The firm’s quarterly revenue was down 15.1% on a year-over-year basis. 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. On average, analysts expect that NewJersey Resources will post 3.15 EPS for the current year.

NewJersey Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Friday, December 12th will be given a $0.475 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $1.90 dividend on an annualized basis and a yield of 4.2%. NewJersey Resources’s payout ratio is presently 57.06%.

Institutional Investors Weigh In On NewJersey Resources

A number of institutional investors have recently modified their holdings of NJR. IFP Advisors Inc grew its position in shares of NewJersey Resources by 24.9% during the third quarter. IFP Advisors Inc now owns 1,878 shares of the utilities provider’s stock worth $90,000 after buying an additional 374 shares in the last quarter. Swiss Life Asset Management Ltd acquired a new position in NewJersey Resources during the 3rd quarter worth approximately $212,000. CIBC Private Wealth Group LLC increased its position in shares of NewJersey Resources by 164.9% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,682 shares of the utilities provider’s stock valued at $81,000 after purchasing an additional 1,047 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in shares of NewJersey Resources in the 3rd quarter valued at $519,000. Finally, Chartist Inc. CA purchased a new stake in shares of NewJersey Resources during the 3rd quarter worth $408,000. 70.98% of the stock is owned by institutional investors and hedge funds.

About NewJersey Resources

New Jersey Resources Corporation, an energy services holding company, distributes natural gas. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Storage and Transportation. The Natural Gas Distribution segment offers regulated natural gas utility services to approximately 576,000 customers in Burlington, Middlesex, Monmouth, Morris, Ocean, and Sussex counties in New Jersey; provides capacity and storage management services; and participates in the off-system sales and capacity release markets.