NewJersey Resources Corporation (NYSE:NJR) Receives Average Recommendation of “Buy” from Analysts

Shares of NewJersey Resources Corporation (NYSE:NJR) have earned an average recommendation of “Buy” from the five research firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $58.1667.

Several equities analysts have issued reports on the company. Wall Street Zen raised NewJersey Resources from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings raised shares of NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. Wells Fargo & Company initiated coverage on NewJersey Resources in a report on Tuesday, May 12th. They issued an “overweight” rating and a $63.00 target price on the stock. Mizuho boosted their price target on shares of NewJersey Resources from $54.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 21st. Finally, Argus set a $63.00 price objective on NewJersey Resources in a research report on Wednesday, May 20th.

NewJersey Resources Stock Up 1.3%

NJR stock opened at $55.35 on Friday. NewJersey Resources has a fifty-two week low of $43.46 and a fifty-two week high of $58.57. The company’s 50 day moving average price is $56.01 and its 200 day moving average price is $51.88. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.80 and a current ratio of 0.94. The firm has a market capitalization of $5.59 billion, a price-to-earnings ratio of 16.42 and a beta of 0.50.

NewJersey Resources (NYSE:NJR) last released its quarterly earnings data on Monday, May 4th. The utilities provider reported $2.20 EPS for the quarter, beating 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 business 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 business posted $1.78 EPS. The business’s revenue for the quarter 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 research analysts anticipate that NewJersey Resources will post 3.5 EPS for the current fiscal year.

NewJersey Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th will be issued a $0.475 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.90 dividend on an annualized basis and a yield of 3.4%. NewJersey Resources’s dividend payout ratio (DPR) is 56.38%.

Insider Activity at NewJersey Resources

In related news, SVP Richard Reich sold 5,449 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $52.99, for a total value of $288,742.51. Following the completion of the transaction, the senior vice president directly owned 26,975 shares of the company’s stock, valued at $1,429,405.25. This trade represents a 16.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Roberto Bel sold 6,105 shares of NewJersey Resources stock in a transaction on Monday, March 16th. The stock was sold at an average price of $55.10, for a total value of $336,385.50. Following the transaction, the chief financial officer directly owned 19,780 shares of the company’s stock, valued at approximately $1,089,878. This represents a 23.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 23,704 shares of company stock worth $1,307,389. 0.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of NewJersey Resources in the 4th quarter worth about $60,075,000. Millennium Management LLC boosted its holdings in shares of NewJersey Resources by 895.7% during the third quarter. Millennium Management LLC now owns 677,352 shares of the utilities provider’s stock worth $32,614,000 after purchasing an additional 609,323 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in NewJersey Resources by 10.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,934,165 shares of the utilities provider’s stock worth $181,446,000 after buying an additional 367,844 shares during the last quarter. Qube Research & Technologies Ltd boosted its position in shares of NewJersey Resources by 77.1% in the second quarter. Qube Research & Technologies Ltd now owns 730,300 shares of the utilities provider’s stock worth $32,732,000 after acquiring an additional 317,932 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of NewJersey Resources during the 3rd quarter valued at $13,351,000. Hedge funds and other institutional investors 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.