Wall Street Zen Upgrades NewJersey Resources (NYSE:NJR) to “Hold”

NewJersey Resources (NYSE:NJR) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Other research analysts have also issued research reports about the company. Weiss Ratings restated a “hold (c+)” rating on shares of NewJersey Resources in a report on Tuesday. New Street Research set a $54.00 target price on shares of NewJersey Resources in a research report on Wednesday. Mizuho upgraded shares of NewJersey Resources from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $51.00 to $54.00 in a research report on Wednesday. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $53.00 price objective on shares of NewJersey Resources in a report on Thursday, November 20th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, NewJersey Resources currently has a consensus rating of “Hold” and a consensus price target of $52.86.

NewJersey Resources Trading Down 3.0%

Shares of NewJersey Resources stock opened at $46.30 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.40 and a debt-to-equity ratio of 1.36. NewJersey Resources has a twelve month low of $43.46 and a twelve month high of $50.76. The firm has a market capitalization of $4.66 billion, a PE ratio of 13.90 and a beta of 0.61. The firm’s 50-day moving average price is $46.16 and its 200 day moving average price is $46.18.

NewJersey Resources (NYSE:NJR) last announced its earnings results on Wednesday, November 19th. The utilities provider reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The business had revenue of $336.08 million during the quarter, compared to analysts’ expectations of $307.30 million. NewJersey Resources had a return on equity of 13.73% and a net margin of 16.48%.The business’s revenue was down 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.89 earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.030-3.180 EPS. On average, sell-side analysts predict that NewJersey Resources will post 3.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NJR. American Century Companies Inc. raised its position in NewJersey Resources by 356.5% in the first quarter. American Century Companies Inc. now owns 124,914 shares of the utilities provider’s stock valued at $6,128,000 after purchasing an additional 97,553 shares during the period. Brooklyn Investment Group increased its position in shares of NewJersey Resources by 1,715.4% during the 1st quarter. Brooklyn Investment Group now owns 1,416 shares of the utilities provider’s stock worth $69,000 after purchasing an additional 1,338 shares during the last quarter. Hsbc Holdings PLC raised its holdings in NewJersey Resources by 181.6% in the 1st quarter. Hsbc Holdings PLC now owns 105,449 shares of the utilities provider’s stock valued at $5,161,000 after buying an additional 67,997 shares during the period. Capital Fund Management S.A. acquired a new position in NewJersey Resources in the first quarter valued at about $2,025,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in NewJersey Resources by 633.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,549 shares of the utilities provider’s stock valued at $223,000 after buying an additional 3,929 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

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.