NewJersey Resources (NYSE:NJR) Now Covered by Analysts at Huntington

Research analysts at Huntington began coverage on shares of NewJersey Resources (NYSE:NJR) in a report issued on Monday, MarketBeat reports. The firm set an “outperform” rating and a $68.00 price target on the utilities provider’s stock. Huntington’s price target suggests a potential upside of 27.22% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings downgraded shares of NewJersey Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. reduced their price target on shares of NewJersey Resources from $64.00 to $63.00 and set an “overweight” rating on the stock in a research report on Friday. Argus set a $63.00 price target on shares of NewJersey Resources in a report on Wednesday, May 20th. Wells Fargo & Company cut shares of NewJersey Resources from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $63.00 to $61.00 in a research report on Wednesday, August 5th. Finally, New Street Research set a $68.00 price objective on NewJersey Resources in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $61.50.

NewJersey Resources Trading Up 0.5%

Shares of NewJersey Resources stock traded up $0.29 during trading on Monday, hitting $53.45. 18,655 shares of the company were exchanged, compared to its average volume of 594,258. The firm has a market capitalization of $5.42 billion, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 2.96 and a beta of 0.50. NewJersey Resources has a 1-year low of $43.46 and a 1-year high of $60.86. The firm’s fifty day moving average price is $56.12 and its 200 day moving average price is $55.73. 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 earnings per share 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 for the quarter, compared to the consensus estimate of $342.13 million. During the same period last year, the company posted ($0.15) EPS. NewJersey Resources’s revenue for the quarter was up 16.8% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. As a group, sell-side analysts expect that NewJersey Resources will post 3.59 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Patrick Migliaccio sold 3,000 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $55.63, for a total value of $166,890.00. Following the sale, the chief operating officer directly owned 32,202 shares in the company, valued at $1,791,397.26. The trade was a 8.52% 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. 0.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NewJersey Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Measured Wealth Private Client Group LLC bought a new stake in NewJersey Resources in the 3rd quarter valued at approximately $28,000. Root Financial Partners LLC grew its stake in shares of NewJersey Resources by 56.5% during the 1st quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 190 shares in the last quarter. Essential Partners LLC grew its stake 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 worth $38,000 after acquiring an additional 276 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of NewJersey Resources by 118.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 933 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 505 shares during the last quarter. Finally, CENTRAL TRUST Co raised its holdings in shares of NewJersey Resources by 172.7% in 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.

About NewJersey Resources

New Jersey Resources Corporation (NYSE: NJR) is an energy services holding company based in Wall, New Jersey. Through its subsidiaries, the company provides regulated natural gas distribution, energy management, wholesale energy services, renewable energy development, and natural gas storage and transportation solutions.

Its principal subsidiary, New Jersey Natural Gas, operates a regulated natural gas utility serving residential, commercial, and industrial customers in central and northern New Jersey.