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

NewJersey Resources (NYSE:NJR) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Sunday.

A number of other research analysts have also recently issued reports on the stock. New Street Research set a $54.00 price objective on shares of NewJersey Resources in a research note on Wednesday, December 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of NewJersey Resources in a research note on Monday, December 22nd. Raymond James Financial restated an “outperform” rating and set a $53.00 price objective on shares of NewJersey Resources in a research report on Thursday, November 20th. Finally, Mizuho raised NewJersey Resources from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $51.00 to $54.00 in a research note on Wednesday, December 17th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $52.86.

NewJersey Resources Price Performance

Shares of NJR opened at $46.06 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.40 and a debt-to-equity ratio of 1.36. NewJersey Resources has a 1 year low of $43.46 and a 1 year high of $50.76. The stock has a market cap of $4.64 billion, a P/E ratio of 13.83 and a beta of 0.61. The stock’s 50-day moving average price is $46.18 and its two-hundred day moving average price is $46.24.

NewJersey Resources (NYSE:NJR) last posted its quarterly earnings data on Wednesday, November 19th. The utilities provider reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.01. The business had revenue of $336.08 million during the quarter, compared to analysts’ expectations of $307.30 million. NewJersey Resources had a net margin of 16.48% and a return on equity of 13.73%. NewJersey Resources’s revenue was down 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.89 earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.030-3.180 EPS. On average, equities analysts predict that NewJersey Resources will post 3.15 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Measured Wealth Private Client Group LLC bought a new stake in NewJersey Resources during the 3rd quarter worth approximately $28,000. Bessemer Group Inc. increased its holdings in NewJersey Resources by 60.1% in the third quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 230 shares during the period. Tradewinds Capital Management LLC bought a new position in NewJersey Resources during the 3rd quarter worth $30,000. Cullen Frost Bankers Inc. lifted its holdings in NewJersey Resources by 153.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 754 shares of the utilities provider’s stock worth $34,000 after buying an additional 456 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in NewJersey Resources during the 3rd quarter worth about $48,000. Institutional investors and hedge funds 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.