NewJersey Resources (NYSE:NJR) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of NewJersey Resources (NYSE:NJR) from a hold rating to a sell rating in a report issued on Sunday morning.

A number of other brokerages have also recently commented on NJR. Mizuho raised shares of NewJersey Resources from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $51.00 to $54.00 in a research note on Wednesday, December 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of NewJersey Resources in a research report on Monday, December 22nd. Raymond James Financial restated an “outperform” rating and set a $53.00 price objective on shares of NewJersey Resources in a research report on Thursday, November 20th. Finally, New Street Research set a $54.00 target price on NewJersey Resources in a research note on Wednesday, December 17th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $52.86.

NewJersey Resources Stock Performance

NJR opened at $46.06 on Friday. NewJersey Resources has a 1-year low of $43.46 and a 1-year high of $50.76. The stock has a market cap of $4.64 billion, a P/E ratio of 13.83 and a beta of 0.61. The stock’s 50 day simple moving average is $46.18 and its 200 day simple moving average is $46.25. 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 posted its earnings results on Wednesday, November 19th. The utilities provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. NewJersey Resources had a return on equity of 13.73% and a net margin of 16.48%.The company had revenue of $336.08 million for the quarter, compared to the consensus estimate of $307.30 million. During the same period in the previous year, the business earned $0.89 earnings per share. NewJersey Resources’s quarterly revenue was down 15.1% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.030-3.180 EPS. As a group, equities analysts anticipate that NewJersey Resources will post 3.15 EPS for the current fiscal year.

NewJersey Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 12th will be given a dividend of $0.475 per share. The ex-dividend date is Friday, December 12th. This represents a $1.90 dividend on an annualized basis and a yield of 4.1%. NewJersey Resources’s dividend payout ratio (DPR) is 57.06%.

Institutional Investors Weigh In On NewJersey Resources

Several hedge funds have recently made changes to their positions in the business. Measured Wealth Private Client Group LLC acquired a new position in NewJersey Resources in the third quarter valued at $28,000. Bessemer Group Inc. increased its stake in shares of NewJersey Resources by 60.1% during the 3rd quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 230 shares during the last quarter. Tradewinds Capital Management LLC purchased a new position in shares of NewJersey Resources during the 3rd quarter worth about $30,000. Cullen Frost Bankers Inc. boosted its position in shares of NewJersey Resources by 153.0% in the second quarter. Cullen Frost Bankers Inc. now owns 754 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 456 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of NewJersey Resources by 56.9% in the third quarter. Parallel Advisors LLC now owns 1,001 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 363 shares during the last quarter. 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.