NewJersey Resources Corporation (NYSE:NJR) Receives Average Rating of “Moderate Buy” from Analysts

Shares of NewJersey Resources Corporation (NYSE:NJR) have been assigned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $52.8571.

A number of equities analysts recently commented on NJR shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of NewJersey Resources in a research note on Monday, December 29th. New Street Research set a $54.00 price target on NewJersey Resources in a report on Wednesday, December 17th. Argus raised NewJersey Resources to a “strong-buy” rating in a research report on Thursday. 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. Finally, Wall Street Zen cut NewJersey Resources from a “hold” rating to a “sell” rating in a research note on Sunday, December 28th.

NewJersey Resources Stock Down 0.9%

NJR stock opened at $47.90 on Monday. The company’s 50 day moving average price is $46.73 and its 200 day moving average price is $46.54. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of 14.38 and a beta of 0.60. NewJersey Resources has a fifty-two week low of $43.46 and a fifty-two 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.

NewJersey Resources (NYSE:NJR) last issued its quarterly earnings results on Wednesday, November 19th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $307.30 million. During the same quarter in the previous year, the firm earned $0.89 earnings per share. The firm’s quarterly revenue was down 15.1% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.030-3.180 EPS. On average, equities research analysts anticipate that NewJersey Resources will post 3.15 EPS for the current fiscal year.

NewJersey Resources Announces Dividend

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

Insider Activity

In related news, COO Patrick J. Migliaccio sold 4,017 shares of the stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $46.46, for a total value of $186,629.82. Following the transaction, the chief operating officer directly owned 38,065 shares of the company’s stock, valued at $1,768,499.90. This trade represents a 9.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On NewJersey Resources

Several large investors have recently bought and sold shares of the stock. Measured Wealth Private Client Group LLC purchased a new position in shares of NewJersey Resources during the third quarter worth about $28,000. Bessemer Group Inc. grew its stake in NewJersey Resources by 60.1% during the 3rd quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock worth $29,000 after buying an additional 230 shares during the last quarter. Tradewinds Capital Management LLC acquired a new position in NewJersey Resources during the third quarter worth approximately $30,000. Cullen Frost Bankers Inc. lifted its stake in NewJersey Resources by 153.0% in the second quarter. Cullen Frost Bankers Inc. now owns 754 shares of the utilities provider’s stock valued at $34,000 after buying an additional 456 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in NewJersey Resources by 56.9% in the third quarter. Parallel Advisors LLC now owns 1,001 shares of the utilities provider’s stock valued at $48,000 after buying an additional 363 shares during the last quarter. Institutional investors and hedge funds 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.