NewJersey Resources (NYSE:NJR) Sets New 12-Month High – Still a Buy?

NewJersey Resources Corporation (NYSE:NJR) shares hit a new 52-week high during trading on Thursday . The company traded as high as $57.91 and last traded at $57.5990, with a volume of 36502 shares trading hands. The stock had previously closed at $57.19.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on NJR shares. Wells Fargo & Company started coverage on shares of NewJersey Resources in a research report on Tuesday. They set an “overweight” rating and a $63.00 price objective on the stock. Raymond James Financial reiterated an “outperform” rating on shares of NewJersey Resources in a report on Tuesday, February 3rd. Wall Street Zen upgraded NewJersey Resources from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Argus upgraded NewJersey Resources to a “strong-buy” rating in a report on Thursday, January 22nd. Finally, Mizuho increased their price objective on NewJersey Resources from $54.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $56.17.

NewJersey Resources Stock Down 0.9%

The business has a fifty day moving average of $55.42 and a 200 day moving average of $50.74. The stock has a market cap of $5.78 billion, a price-to-earnings ratio of 16.99 and a beta of 0.51. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.80.

NewJersey Resources (NYSE:NJR) last released its quarterly earnings data on Monday, May 4th. The utilities provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. NewJersey Resources had a return on equity of 14.58% and a net margin of 15.67%.The firm had revenue of $939.40 million for the quarter, compared to the consensus estimate of $849.95 million. During the same quarter in the prior year, the company posted $1.78 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. On average, equities analysts predict that NewJersey Resources Corporation will post 3.5 earnings per share for the current year.

NewJersey Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th will be issued a $0.475 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $1.90 dividend on an annualized basis and a yield of 3.3%. NewJersey Resources’s dividend payout ratio is currently 56.38%.

Insider Buying and Selling

In other NewJersey Resources news, CFO Roberto Bel sold 6,105 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $55.10, for a total transaction of $336,385.50. Following the transaction, the chief financial officer owned 19,780 shares in the company, valued at $1,089,878. This trade represents a 23.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jane M. Kenny sold 8,000 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $56.10, for a total value of $448,800.00. Following the transaction, the director owned 21,998 shares in the company, valued at approximately $1,234,087.80. This trade represents a 26.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 22,554 shares of company stock worth $1,241,448. 0.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NewJersey Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Root Financial Partners LLC grew its holdings in NewJersey Resources by 56.5% during the first quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 190 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new position in NewJersey Resources during the third quarter valued at approximately $28,000. Bessemer Group Inc. grew its holdings in NewJersey Resources by 60.1% during the third 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 last quarter. Torren Management LLC acquired a new position in NewJersey Resources during the fourth quarter valued at approximately $35,000. Finally, CENTRAL TRUST Co grew its holdings in NewJersey Resources by 172.7% during the first quarter. CENTRAL TRUST Co now owns 818 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 518 shares during 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.