NewJersey Resources Corporation (NYSE:NJR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of NewJersey Resources Corporation (NYSE:NJR) have received a consensus rating of “Moderate Buy” from the seven research firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $53.00.

A number of equities research analysts have recently weighed in on the company. Argus upgraded NewJersey Resources to a “strong-buy” rating in a research report on Thursday, January 22nd. Wall Street Zen upgraded shares of NewJersey Resources from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. New Street Research set a $54.00 price target on shares of NewJersey Resources in a research report on Wednesday, December 17th. Raymond James Financial reaffirmed an “outperform” rating on shares of NewJersey Resources in a research report on Tuesday, February 3rd. Finally, Weiss Ratings raised NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 13th.

Insider Buying and Selling at NewJersey Resources

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 4,017 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $46.46, for a total transaction of $186,629.82. Following the completion of the transaction, the chief operating officer owned 38,065 shares of the company’s stock, valued at approximately $1,768,499.90. This trade represents a 9.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is owned by corporate insiders.

Institutional Trading of NewJersey Resources

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. increased its holdings in shares of NewJersey Resources by 6.6% in the 4th quarter. Invesco Ltd. now owns 519,941 shares of the utilities provider’s stock worth $23,980,000 after purchasing an additional 32,116 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in NewJersey Resources by 18.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 12,483 shares of the utilities provider’s stock worth $576,000 after purchasing an additional 1,921 shares during the period. XTX Topco Ltd raised its stake in NewJersey Resources by 18.1% during the 4th quarter. XTX Topco Ltd now owns 6,501 shares of the utilities provider’s stock valued at $300,000 after buying an additional 998 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of NewJersey Resources by 1.1% during the 4th quarter. Wellington Management Group LLP now owns 300,471 shares of the utilities provider’s stock valued at $13,858,000 after buying an additional 3,322 shares during the period. Finally, Susquehanna Portfolio Strategies LLC purchased a new position in shares of NewJersey Resources in the 4th quarter worth $1,941,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

NewJersey Resources Trading Up 0.3%

NYSE:NJR opened at $52.85 on Friday. The firm has a market capitalization of $5.33 billion, a P/E ratio of 16.36 and a beta of 0.60. The company has a quick ratio of 0.58, a current ratio of 0.83 and a debt-to-equity ratio of 1.32. The company has a fifty day moving average of $48.66 and a 200 day moving average of $47.29. NewJersey Resources has a 52 week low of $43.46 and a 52 week high of $54.70.

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

NewJersey Resources Announces Dividend

The firm 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 dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Wednesday, March 11th. NewJersey Resources’s payout ratio is 58.82%.

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.