NewJersey Resources (NYSE:NJR) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Shares of NewJersey Resources Corporation (NYSE:NJR) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $53.49 and traded as high as $58.17. NewJersey Resources shares last traded at $57.9390, with a volume of 486,492 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently commented on NJR. Argus set a $63.00 price target on shares of NewJersey Resources in a research report on Wednesday, May 20th. Wells Fargo & Company initiated 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 on the stock. Mizuho boosted their target price on shares of NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, April 21st. Finally, Weiss Ratings upgraded NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $58.17.

NewJersey Resources Stock Performance

The firm’s fifty day moving average price is $56.08 and its 200 day moving average price is $53.49. 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 firm has a market capitalization of $5.85 billion, a PE ratio of 17.19 and a beta of 0.50.

NewJersey Resources (NYSE:NJR) last posted its quarterly earnings results on Monday, May 4th. The utilities provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $849.95 million. During the same period in the prior year, the business posted $1.78 earnings per share. NewJersey Resources’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, research analysts anticipate that NewJersey Resources Corporation will post 3.57 earnings per share for the current year.

NewJersey Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th were issued a $0.475 dividend. The ex-dividend date was Wednesday, June 10th. This represents a $1.90 dividend on an annualized basis and a yield of 3.3%. NewJersey Resources’s dividend payout ratio is currently 56.38%.

Insider Activity at NewJersey Resources

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $55.84, for a total value of $167,520.00. Following the completion of the sale, the chief operating officer directly owned 35,202 shares of the company’s stock, valued at $1,965,679.68. The trade was a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Christopher T. D’antuono sold 1,150 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $57.34, for a total transaction of $65,941.00. Following the transaction, the insider owned 2,985 shares in the company, valued at approximately $171,159.90. This trade represents a 27.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 12,150 shares of company stock valued at $682,261. 0.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NewJersey Resources

A number of large investors have recently bought and sold shares of NJR. Root Financial Partners LLC lifted its position in shares of NewJersey Resources by 56.5% in the first quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider’s stock worth $29,000 after buying an additional 190 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new position in shares of NewJersey Resources during the 3rd quarter valued at about $28,000. Torren Management LLC acquired a new position in shares of NewJersey Resources during the 4th quarter valued at about $35,000. CENTRAL TRUST Co raised its stake in shares of NewJersey Resources by 172.7% in the 1st quarter. CENTRAL TRUST Co now owns 818 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 518 shares in the last quarter. Finally, Roxbury Financial LLC lifted its holdings in NewJersey Resources by 72.9% in the 2nd quarter. Roxbury Financial LLC now owns 885 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 373 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

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.