NewJersey Resources (NYSE:NJR) Reaches New 52-Week High – Here’s What Happened

NewJersey Resources Corporation (NYSE:NJR)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $54.70 and last traded at $54.15, with a volume of 457611 shares trading hands. The stock had previously closed at $54.23.

Analyst Upgrades and Downgrades

NJR has been the topic of a number of recent research reports. Williams Trading set a $55.00 price target on NewJersey Resources in a research report on Tuesday, February 3rd. Wall Street Zen raised shares of NewJersey Resources from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Raymond James Financial reissued an “outperform” rating on shares of NewJersey Resources in a research report on Tuesday, February 3rd. Argus raised NewJersey Resources to a “strong-buy” rating in a research report on Thursday, January 22nd. Finally, Mizuho raised NewJersey Resources from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $51.00 to $54.00 in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, NewJersey Resources presently has an average rating of “Moderate Buy” and a consensus price target of $53.00.

NewJersey Resources Trading Up 1.0%

The stock has a market cap of $5.37 billion, a P/E ratio of 16.48 and a beta of 0.60. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.58 and a current ratio of 0.83. The stock’s fifty day moving average is $48.66 and its 200 day moving average is $47.29.

NewJersey Resources (NYSE:NJR) last posted its quarterly earnings data on Monday, February 2nd. The utilities provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.22. The business had revenue of $604.85 million during the quarter, compared to analyst estimates of $546.90 million. NewJersey Resources had a return on equity of 13.06% and a net margin of 15.18%.The company’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same period last year, the company earned $1.29 EPS. NewJersey Resources has set its FY 2026 guidance at 3.280-3.43 EPS. As a group, equities research analysts predict that NewJersey Resources Corporation will post 3.15 earnings per share for the current fiscal year.

NewJersey Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 11th will be paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Wednesday, March 11th. NewJersey Resources’s dividend payout ratio is currently 58.82%.

Insider Activity

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 4,017 shares of the firm’s 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 transaction, the chief operating officer directly owned 38,065 shares in the company, valued at $1,768,499.90. This trade represents a 9.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On NewJersey Resources

A number of large investors have recently bought and sold shares of NJR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in NewJersey Resources by 6.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,363 shares of the utilities provider’s stock valued at $2,912,000 after purchasing an additional 3,422 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of NewJersey Resources by 65.7% in the first 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in NewJersey Resources by 10.1% during 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 during the last quarter. Jane Street Group LLC purchased a new stake in NewJersey Resources in the first quarter valued at $8,907,000. Finally, CWM LLC lifted its holdings in shares of NewJersey Resources by 26.1% in the 2nd quarter. CWM LLC now owns 5,010 shares of the utilities provider’s stock worth $225,000 after acquiring an additional 1,038 shares during the last quarter. Institutional investors 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.