NewJersey Resources (NYSE:NJR) Sets New 52-Week High – Time to Buy?

NewJersey Resources Corporation (NYSE:NJR)’s share price reached a new 52-week high on Monday . The company traded as high as $59.02 and last traded at $59.2130, with a volume of 16535 shares traded. The stock had previously closed at $58.37.

Wall Street Analyst Weigh In

NJR has been the subject of several recent research reports. Mizuho increased their price target on NewJersey Resources from $54.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, April 21st. Weiss Ratings raised shares of NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. Wells Fargo & Company began coverage on shares of NewJersey Resources in a research report on Tuesday, May 12th. They set an “overweight” rating and a $63.00 price objective for the company. Finally, Argus set a $63.00 target price on shares of NewJersey Resources in a research note on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $58.17.

NewJersey Resources Price Performance

The firm has a market cap of $5.94 billion, a PE ratio of 17.45 and a beta of 0.50. The company has a current ratio of 0.94, a quick ratio of 0.80 and a debt-to-equity ratio of 1.24. The company has a 50 day moving average price of $56.25 and a 200 day moving average price of $53.75.

NewJersey Resources (NYSE:NJR) last released its quarterly earnings data on Monday, May 4th. The utilities provider reported $2.20 EPS for the quarter, topping the consensus estimate of $1.89 by $0.31. NewJersey Resources had a net margin of 15.67% and a return on equity of 14.58%. The business had revenue of $939.40 million for the quarter, compared to analyst estimates of $849.95 million. During the same period in the previous year, the firm earned $1.78 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. On average, sell-side analysts expect that NewJersey Resources Corporation will post 3.58 EPS for the current year.

Insiders Place Their Bets

In related news, Director Jane M. Kenny sold 8,000 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $56.10, for a total transaction of $448,800.00. Following the transaction, the director directly owned 21,998 shares in the company, valued at approximately $1,234,087.80. This represents a 26.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Christopher T. D’antuono sold 1,150 shares of NewJersey Resources stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $57.34, for a total value of $65,941.00. Following the completion of the transaction, the insider owned 2,985 shares in the company, valued at $171,159.90. The trade was a 27.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,150 shares of company stock valued at $682,261 in the last quarter. 0.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NJR. Root Financial Partners LLC lifted its holdings in NewJersey Resources by 56.5% in the 1st quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider’s stock worth $29,000 after buying an additional 190 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in shares of NewJersey Resources during the third quarter valued at about $28,000. Torren Management LLC acquired a new stake in shares of NewJersey Resources during the fourth quarter valued at about $35,000. CENTRAL TRUST Co increased its position in shares of NewJersey Resources by 172.7% during the first quarter. CENTRAL TRUST Co now owns 818 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 518 shares during the last quarter. Finally, Roxbury Financial LLC increased its position in shares of NewJersey Resources by 72.9% during the second quarter. Roxbury Financial LLC now owns 885 shares of the utilities provider’s stock worth $50,000 after acquiring an additional 373 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

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.