NewJersey Resources (NYSE:NJR) Upgraded to Hold at Wall Street Zen

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

A number of other equities research analysts have also recently commented on the stock. Mizuho raised shares of NewJersey Resources from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $51.00 to $54.00 in a research note on Wednesday, December 17th. Williams Trading set a $55.00 price target on shares of NewJersey Resources in a report on Tuesday. Argus upgraded shares of NewJersey Resources to a “strong-buy” rating in a research report on Thursday, January 22nd. New Street Research set a $54.00 price objective on shares of NewJersey Resources in a research note on Wednesday, December 17th. Finally, Raymond James Financial restated an “outperform” rating on shares of NewJersey Resources in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.00.

NewJersey Resources Trading Down 0.6%

Shares of NewJersey Resources stock opened at $52.45 on Friday. The company has a 50-day moving average of $47.28 and a two-hundred day moving average of $46.83. NewJersey Resources has a 12-month low of $43.46 and a 12-month high of $53.65. The company has a current ratio of 0.83, a quick ratio of 0.40 and a debt-to-equity ratio of 1.32. The stock has a market cap of $5.29 billion, a PE ratio of 16.24 and a beta of 0.60.

NewJersey Resources (NYSE:NJR) last announced its quarterly earnings results on Monday, February 2nd. The utilities provider reported $1.17 EPS for the quarter, topping the consensus estimate of $0.95 by $0.22. The business had revenue of $604.85 million for the quarter, compared to analyst estimates of $546.90 million. NewJersey Resources had a return on equity of 13.06% and a net margin of 15.18%.The company’s quarterly revenue was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.29 EPS. NewJersey Resources has set its FY 2026 guidance at 3.280-3.43 EPS. On average, research analysts anticipate that NewJersey Resources will post 3.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 4,017 shares of the business’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $46.46, for a total value of $186,629.82. Following the completion of the transaction, the chief operating officer directly owned 38,065 shares in the company, valued at approximately $1,768,499.90. The trade was a 9.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On NewJersey Resources

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new position in NewJersey Resources during the second quarter worth about $52,671,000. Millennium Management LLC increased its stake in shares of NewJersey Resources by 895.7% during the 3rd quarter. Millennium Management LLC now owns 677,352 shares of the utilities provider’s stock valued at $32,614,000 after acquiring an additional 609,323 shares during the last quarter. Energy Income Partners LLC increased its stake in shares of NewJersey Resources by 145.7% during the 2nd quarter. Energy Income Partners LLC now owns 798,661 shares of the utilities provider’s stock valued at $35,796,000 after acquiring an additional 473,664 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of NewJersey Resources by 77.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 730,300 shares of the utilities provider’s stock worth $32,732,000 after acquiring an additional 317,932 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in shares of NewJersey Resources during the 3rd quarter worth about $13,351,000. Hedge funds and other institutional investors 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.