NewJersey Resources (NYSE:NJR) Upgraded at Argus

Argus upgraded shares of NewJersey Resources (NYSE:NJR) to a strong-buy rating in a report published on Thursday,Zacks.com reports.

NJR has been the topic of several other research reports. New Street Research set a $54.00 price target on NewJersey Resources in a research report on Wednesday, December 17th. Raymond James Financial reissued an “outperform” rating and issued a $53.00 target price on shares of NewJersey Resources in a report on Thursday, November 20th. Weiss Ratings restated a “hold (c+)” rating on shares of NewJersey Resources in a research note on Monday, December 29th. Mizuho upgraded shares of NewJersey Resources from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $51.00 to $54.00 in a research report on Wednesday, December 17th. Finally, Wall Street Zen cut shares of NewJersey Resources from a “hold” rating to a “sell” rating in a research note on Sunday, December 28th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $52.86.

NewJersey Resources Price Performance

NJR stock opened at $47.90 on Thursday. The company has a current ratio of 0.73, a quick ratio of 0.40 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $4.83 billion, a P/E ratio of 14.38 and a beta of 0.60. The business has a 50 day simple moving average of $46.73 and a 200-day simple moving average of $46.54. NewJersey Resources has a twelve month low of $43.46 and a twelve month high of $50.76.

NewJersey Resources (NYSE:NJR) last released its quarterly earnings results on Wednesday, November 19th. The utilities provider reported $0.16 EPS for the quarter, beating 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 firm had revenue of $336.08 million during the quarter, compared to the consensus estimate of $307.30 million. During the same quarter in the prior year, the firm earned $0.89 EPS. NewJersey Resources’s revenue for the quarter was down 15.1% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.030-3.180 EPS. As a group, equities analysts anticipate that NewJersey Resources will post 3.15 EPS for the current year.

NewJersey Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 11th will be issued a dividend of $0.475 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $1.90 dividend on an annualized basis and a yield of 4.0%. NewJersey Resources’s payout ratio is currently 57.06%.

Insider Activity at NewJersey Resources

In other news, COO Patrick J. Migliaccio sold 4,017 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $46.46, for a total transaction of $186,629.82. Following the sale, the chief operating officer owned 38,065 shares of the company’s stock, valued at $1,768,499.90. The trade was a 9.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On NewJersey Resources

Several hedge funds have recently bought and sold shares of NJR. US Bancorp DE lifted its position in shares of NewJersey Resources by 7.9% in the third quarter. US Bancorp DE now owns 3,127 shares of the utilities provider’s stock valued at $151,000 after acquiring an additional 228 shares in the last quarter. Bessemer Group Inc. lifted its holdings 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 in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of NewJersey Resources by 0.8% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 31,318 shares of the utilities provider’s stock worth $1,404,000 after purchasing an additional 236 shares during the last quarter. Horizon Investment Services LLC boosted its stake in shares of NewJersey Resources by 4.7% during the 3rd quarter. Horizon Investment Services LLC now owns 6,057 shares of the utilities provider’s stock worth $292,000 after purchasing an additional 273 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of NewJersey Resources by 19.7% during the third quarter. UMB Bank n.a. now owns 1,680 shares of the utilities provider’s stock worth $81,000 after buying an additional 277 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

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.