NewJersey Resources Corporation (NYSE:NJR) Given Average Rating of “Buy” by Brokerages

NewJersey Resources Corporation (NYSE:NJR) has received an average rating of “Buy” from the five brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $57.8333.

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company cut shares of NewJersey Resources from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $63.00 to $61.00 in a report on Wednesday, August 5th. Mizuho upped their target price on shares of NewJersey Resources from $54.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, April 21st. Weiss Ratings downgraded NewJersey Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Finally, Argus set a $63.00 price objective on NewJersey Resources in a report on Wednesday, May 20th.

NewJersey Resources Stock Performance

Shares of NewJersey Resources stock opened at $55.54 on Friday. NewJersey Resources has a one year low of $43.46 and a one year high of $60.86. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 15.34 and a beta of 0.50. The business has a 50-day simple moving average of $56.82 and a 200 day simple moving average of $55.41. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.66 and a quick ratio of 0.45.

NewJersey Resources (NYSE:NJR) last announced its quarterly earnings results on Monday, August 3rd. The utilities provider reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. NewJersey Resources had a net margin of 16.42% and a return on equity of 14.46%. The business had revenue of $349.18 million during the quarter, compared to analyst estimates of $342.13 million. During the same quarter in the previous year, the business posted ($0.15) EPS. NewJersey Resources’s quarterly revenue was up 16.8% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. On average, research analysts anticipate that NewJersey Resources will post 3.59 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Christopher T. D’antuono sold 1,150 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $57.34, for a total transaction of $65,941.00. Following the completion of the sale, the insider owned 2,985 shares in the company, valued at approximately $171,159.90. This represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NewJersey Resources

Several hedge funds have recently modified their holdings of NJR. Root Financial Partners LLC boosted its position in NewJersey Resources by 56.5% in the first quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 190 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new position in NewJersey Resources in the 3rd quarter valued at $28,000. Essential Partners LLC increased its position in shares of NewJersey Resources by 67.3% during the 2nd quarter. Essential Partners LLC now owns 686 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 276 shares during the last quarter. Torren Management LLC purchased a new stake in shares of NewJersey Resources during the 4th quarter valued at $35,000. Finally, CENTRAL TRUST Co raised its stake in shares of NewJersey Resources by 172.7% during the 1st quarter. CENTRAL TRUST Co now owns 818 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 518 shares during the period. 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.