NewJersey Resources (NYSE:NJR) Rating Lowered to Sell at Wall Street Zen

NewJersey Resources (NYSE:NJR) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

NJR has been the subject of a number of other reports. Weiss Ratings reissued a “hold (c)” rating on shares of NewJersey Resources in a research report on Wednesday, October 8th. Raymond James Financial reiterated an “outperform” rating and set a $53.00 price target on shares of NewJersey Resources in a research report on Thursday. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, NewJersey Resources has an average rating of “Hold” and an average price target of $51.86.

NewJersey Resources Stock Performance

NewJersey Resources stock opened at $48.90 on Friday. The firm has a 50 day simple moving average of $46.32 and a 200-day simple moving average of $46.18. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 11.96 and a beta of 0.67. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.76 and a quick ratio of 0.48. NewJersey Resources has a 1-year low of $43.46 and a 1-year high of $51.94.

NewJersey Resources (NYSE:NJR) last released its quarterly earnings data on Wednesday, November 19th. The utilities provider reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $336.08 million for the quarter, compared to analysts’ expectations of $307.30 million. NewJersey Resources had a return on equity of 17.08% and a net margin of 19.64%.The firm’s quarterly revenue was down 15.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.89 earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.030-3.180 EPS. On average, analysts expect that NewJersey Resources will post 3.15 EPS for the current year.

Institutional Trading of NewJersey Resources

Hedge funds have recently made changes to their positions in the business. CIBC Bancorp USA Inc. acquired a new position in shares of NewJersey Resources in the third quarter valued at approximately $519,000. Chartist Inc. CA purchased a new position in NewJersey Resources in the 3rd quarter valued at approximately $408,000. Faithward Advisors LLC grew its stake in shares of NewJersey Resources by 10.8% in the third quarter. Faithward Advisors LLC now owns 5,425 shares of the utilities provider’s stock worth $261,000 after acquiring an additional 530 shares in the last quarter. Advisory Services Network LLC increased its position in shares of NewJersey Resources by 2.8% during the third quarter. Advisory Services Network LLC now owns 55,082 shares of the utilities provider’s stock worth $2,652,000 after acquiring an additional 1,485 shares during the period. Finally, NewEdge Advisors LLC increased its position in shares of NewJersey Resources by 2.3% during the third quarter. NewEdge Advisors LLC now owns 13,009 shares of the utilities provider’s stock worth $626,000 after acquiring an additional 298 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

About NewJersey Resources

New Jersey Resources Corporation, an energy services holding company, distributes natural gas. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Storage and Transportation. The Natural Gas Distribution segment offers regulated natural gas utility services to approximately 576,000 customers in Burlington, Middlesex, Monmouth, Morris, Ocean, and Sussex counties in New Jersey; provides capacity and storage management services; and participates in the off-system sales and capacity release markets.