NewJersey Resources (NYSE:NJR) Issues Earnings Results

NewJersey Resources (NYSE:NJR) released its earnings results on Monday. The utilities provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.22, FiscalAI reports. The company had revenue of $604.85 million during the quarter, compared to the consensus estimate of $546.90 million. NewJersey Resources had a net margin of 16.48% and a return on equity of 13.73%. The company’s revenue was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.29 EPS. NewJersey Resources updated its FY 2026 guidance to 3.280-3.43 EPS.

NewJersey Resources Stock Up 1.1%

NYSE NJR opened at $50.02 on Tuesday. The company has a market capitalization of $5.04 billion, a P/E ratio of 15.02 and a beta of 0.60. NewJersey Resources has a 12 month low of $43.46 and a 12 month high of $50.76. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.73 and a quick ratio of 0.40. The company’s 50 day simple moving average is $46.94 and its 200 day simple moving average is $46.67.

NewJersey Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th will be given a dividend of $0.475 per share. The ex-dividend date is Wednesday, March 11th. This represents a $1.90 annualized dividend and a dividend yield of 3.8%. NewJersey Resources’s dividend payout ratio (DPR) is 57.06%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Raymond James Financial reiterated an “outperform” rating and issued a $53.00 target price on shares of NewJersey Resources in a research report on Thursday, November 20th. Wall Street Zen downgraded shares of NewJersey Resources from a “hold” rating to a “sell” rating in a report on Sunday, December 28th. Argus upgraded shares of NewJersey Resources to a “strong-buy” rating in a research report on Thursday, January 22nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NewJersey Resources in a research report on Monday, December 29th. Finally, Mizuho raised NewJersey Resources from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $51.00 to $54.00 in a research report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.86.

Insider Activity

In other news, COO Patrick J. Migliaccio sold 4,017 shares of the stock in a transaction on 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 sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On NewJersey Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in NewJersey Resources by 6.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,363 shares of the utilities provider’s stock valued at $2,912,000 after buying an additional 3,422 shares during the period. NewEdge Advisors LLC increased its holdings in shares of NewJersey Resources by 65.7% in the 1st quarter. NewEdge Advisors LLC now owns 22,214 shares of the utilities provider’s stock valued at $1,090,000 after purchasing an additional 8,808 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of NewJersey Resources by 10.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 320,113 shares of the utilities provider’s stock worth $15,705,000 after purchasing an additional 29,458 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of NewJersey Resources during the first quarter worth approximately $8,907,000. Finally, Invesco Ltd. grew its position in NewJersey Resources by 14.4% during the second quarter. Invesco Ltd. now owns 465,923 shares of the utilities provider’s stock valued at $20,883,000 after purchasing an additional 58,795 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

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.