NewJersey Resources Corporation (NYSE:NJR) Receives $52.86 Average Target Price from Brokerages

NewJersey Resources Corporation (NYSE:NJR) has received an average recommendation of “Hold” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $52.8571.

Several research analysts have issued reports on NJR shares. New Street Research set a $54.00 target price on shares of NewJersey Resources in a report on Wednesday, December 17th. Wall Street Zen lowered shares of NewJersey Resources from a “hold” rating to a “sell” rating in a research note on Sunday, December 28th. Raymond James Financial restated an “outperform” rating and issued a $53.00 target price on shares of NewJersey Resources in a report on Thursday, November 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of NewJersey Resources in a research note on Monday, December 29th. Finally, Mizuho raised NewJersey Resources from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $51.00 to $54.00 in a report on Wednesday, December 17th.

NewJersey Resources Price Performance

NJR opened at $45.98 on Thursday. The stock’s 50 day moving average price is $46.17 and its 200-day moving average price is $46.30. NewJersey Resources has a 52-week low of $43.46 and a 52-week high of $50.76. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.40 and a current ratio of 0.73. The stock has a market capitalization of $4.63 billion, a PE ratio of 13.81 and a beta of 0.60.

NewJersey Resources (NYSE:NJR) last released its quarterly earnings results on Wednesday, November 19th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $336.08 million during the quarter, compared to the consensus estimate of $307.30 million. NewJersey Resources had a net margin of 16.48% and a return on equity of 13.73%. NewJersey Resources’s revenue was down 15.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.030-3.180 EPS. On average, equities research analysts predict that NewJersey Resources will post 3.15 EPS for the current year.

NewJersey Resources Announces Dividend

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

Insider Activity

In other news, COO Patrick J. Migliaccio sold 4,017 shares of the company’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $46.46, for a total value of $186,629.82. Following the completion of the sale, the chief operating officer directly owned 38,065 shares in the company, valued at $1,768,499.90. This represents a 9.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.70% of the stock is currently owned by insiders.

Institutional Trading of NewJersey Resources

Several institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in NewJersey Resources by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 687,125 shares of the utilities provider’s stock valued at $33,085,000 after purchasing an additional 17,035 shares during the period. IFP Advisors Inc raised 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 valued at $90,000 after buying an additional 374 shares during the last quarter. Swiss Life Asset Management Ltd bought a new position in shares of NewJersey Resources during the third quarter worth $212,000. CIBC Private Wealth Group LLC grew its stake in NewJersey Resources by 164.9% during the third quarter. CIBC Private Wealth Group LLC now owns 1,682 shares of the utilities provider’s stock valued at $81,000 after acquiring an additional 1,047 shares in the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new stake in NewJersey Resources in the 3rd quarter worth $519,000. Hedge funds and other 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.