NewJersey Resources (NYSE:NJR) Lowered to “Sell” Rating by Wall Street Zen

NewJersey Resources (NYSE:NJR) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Sunday.

Other research analysts have also issued reports about the company. Mizuho raised NewJersey Resources from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $51.00 to $54.00 in a research report on Wednesday, December 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NewJersey Resources in a research note on Monday, December 22nd. New Street Research set a $54.00 target price on NewJersey Resources in a report on Wednesday, December 17th. Finally, Raymond James Financial restated an “outperform” rating and set a $53.00 price target on shares of NewJersey Resources in a report on Thursday, November 20th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $52.86.

NewJersey Resources Stock Down 0.6%

Shares of NYSE NJR opened at $46.06 on Friday. The company has a market capitalization of $4.64 billion, a P/E ratio of 13.83 and a beta of 0.61. NewJersey Resources has a 52-week low of $43.46 and a 52-week high of $50.76. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.40 and a current ratio of 0.73. The company’s 50 day moving average price is $46.18 and its 200-day moving average price is $46.24.

NewJersey Resources (NYSE:NJR) last posted its quarterly earnings data on Wednesday, November 19th. The utilities provider reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.01. NewJersey Resources had a net margin of 16.48% and a return on equity of 13.73%. The company had revenue of $336.08 million during the quarter, compared to analysts’ expectations of $307.30 million. During the same period in the prior year, the company posted $0.89 earnings per share. NewJersey Resources’s revenue for the quarter was down 15.1% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.030-3.180 EPS. Equities analysts forecast that NewJersey Resources will post 3.15 earnings per share for the current year.

Institutional Investors Weigh In On NewJersey Resources

A number of hedge funds have recently added to or reduced their stakes in NJR. Measured Wealth Private Client Group LLC bought a new stake in shares of NewJersey Resources during the third quarter valued at approximately $28,000. Bessemer Group Inc. grew its position in NewJersey Resources by 60.1% in the 3rd quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 230 shares during the period. Tradewinds Capital Management LLC acquired a new stake in NewJersey Resources in the 3rd quarter valued at $30,000. Cullen Frost Bankers Inc. increased its stake in NewJersey Resources by 153.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 754 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 456 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new position in NewJersey Resources during the third quarter worth $48,000. Institutional investors and hedge funds 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.