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

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

NJR has been the topic of several other research reports. Weiss Ratings restated a “hold (c+)” rating on shares of NewJersey Resources in a report on Tuesday. Mizuho raised shares of NewJersey Resources from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $51.00 to $54.00 in a research report on Wednesday. New Street Research set a $54.00 price objective on shares of NewJersey Resources in a research note on Wednesday. Finally, Raymond James Financial reissued an “outperform” rating and set a $53.00 price objective on shares of NewJersey Resources in a report on Thursday, November 20th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, NewJersey Resources presently has an average rating of “Hold” and an average target price of $52.86.

NewJersey Resources Stock Down 3.0%

NewJersey Resources stock opened at $46.30 on Friday. The business has a fifty day moving average of $46.16 and a two-hundred day moving average of $46.18. The company has a quick ratio of 0.40, a current ratio of 0.73 and a debt-to-equity ratio of 1.36. NewJersey Resources has a twelve month low of $43.46 and a twelve month high of $50.76. The firm has a market cap of $4.66 billion, a P/E ratio of 13.90 and a beta of 0.61.

NewJersey Resources (NYSE:NJR) last posted its quarterly earnings data on Wednesday, November 19th. The utilities provider reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. NewJersey Resources had a net margin of 16.48% and a return on equity of 13.73%. The firm had revenue of $336.08 million during the quarter, compared to analyst estimates of $307.30 million. During the same quarter in the previous year, the business posted $0.89 EPS. NewJersey Resources’s 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, analysts forecast that NewJersey Resources will post 3.15 earnings per share for the current fiscal year.

Institutional Trading of NewJersey Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NJR. Measured Wealth Private Client Group LLC acquired a new position in shares of NewJersey Resources in the third quarter worth about $28,000. Bessemer Group Inc. increased its stake in shares of NewJersey Resources by 60.1% in the 3rd quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 230 shares in the last quarter. Tradewinds Capital Management LLC acquired a new position in NewJersey Resources in the 3rd quarter worth about $30,000. Cullen Frost Bankers Inc. boosted its position in NewJersey Resources by 153.0% during the second quarter. Cullen Frost Bankers Inc. now owns 754 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 456 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings 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 purchasing an additional 363 shares during the period. 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.