NewJersey Resources (NYSE:NJR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of NewJersey Resources (NYSE:NJR) from a sell rating to a hold rating in a report published on Saturday morning.

A number of other equities research analysts have also issued reports on NJR. Raymond James Financial reissued an “outperform” rating on shares of NewJersey Resources in a research report on Tuesday, February 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of NewJersey Resources in a report on Monday, December 29th. Williams Trading set a $55.00 target price on shares of NewJersey Resources in a report on Tuesday, February 3rd. Mizuho upgraded shares of NewJersey Resources from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $51.00 to $54.00 in a research note on Wednesday, December 17th. Finally, New Street Research set a $54.00 price target on shares of NewJersey Resources in a research report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $53.00.

NewJersey Resources Trading Down 1.3%

NJR opened at $51.74 on Friday. The stock has a market capitalization of $5.22 billion, a P/E ratio of 16.02 and a beta of 0.60. The company has a current ratio of 0.83, a quick ratio of 0.58 and a debt-to-equity ratio of 1.32. NewJersey Resources has a 12 month low of $43.46 and a 12 month high of $53.65. The firm’s fifty day simple moving average is $47.37 and its 200 day simple moving average is $46.88.

NewJersey Resources (NYSE:NJR) last released its earnings results on Monday, February 2nd. The utilities provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. NewJersey Resources had a return on equity of 13.06% and a net margin of 15.18%.The firm had revenue of $604.85 million during the quarter, compared to analysts’ expectations of $546.90 million. During the same quarter in the prior year, the company earned $1.29 EPS. The company’s revenue was up 23.8% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.280-3.43 EPS. As a group, research 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 Wednesday, April 1st. Stockholders of record on Wednesday, March 11th will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Wednesday, March 11th. NewJersey Resources’s dividend payout ratio is presently 58.82%.

Insider Buying and Selling

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 4,017 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer owned 38,065 shares of the company’s stock, valued at $1,768,499.90. The trade was a 9.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Measured Wealth Private Client Group LLC acquired a new position in shares of NewJersey Resources in the third quarter valued at approximately $28,000. Bessemer Group Inc. boosted its stake in NewJersey Resources by 60.1% in the 3rd quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 230 shares during the period. Tradewinds Capital Management LLC acquired a new position in NewJersey Resources in the 3rd quarter valued at $30,000. Cullen Frost Bankers Inc. increased its position in NewJersey Resources by 153.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 754 shares of the utilities provider’s stock worth $34,000 after buying an additional 456 shares during the period. Finally, Torren Management LLC acquired a new stake in shares of NewJersey Resources during the fourth quarter worth $35,000. 70.98% of the stock is owned by institutional investors.

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.