NewJersey Resources (NYSE:NJR) Stock Rating Upgraded by Argus

NewJersey Resources (NYSE:NJR) was upgraded by Argus to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Several other research firms have also commented on NJR. New Street Research set a $54.00 price objective on shares of NewJersey Resources in a research note on Wednesday, December 17th. Wall Street Zen downgraded shares of NewJersey Resources from a “hold” rating to a “sell” rating in a report on Sunday, December 28th. Mizuho raised shares of NewJersey Resources from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $51.00 to $54.00 in a research note on Wednesday, December 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NewJersey Resources in a research note on Monday, December 29th. Finally, Raymond James Financial reissued an “outperform” rating and set a $53.00 price target on shares of NewJersey Resources in a research note on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $52.86.

NewJersey Resources Stock Down 0.9%

Shares of NJR opened at $47.90 on Thursday. NewJersey Resources has a 12-month low of $43.46 and a 12-month high of $50.76. The company has a current ratio of 0.73, a quick ratio of 0.40 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $4.83 billion, a PE ratio of 14.38 and a beta of 0.60. The business’s 50 day moving average is $46.73 and its 200 day moving average is $46.53.

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

Insider Activity

In related news, COO Patrick J. Migliaccio sold 4,017 shares of NewJersey Resources stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $46.46, for a total transaction of $186,629.82. Following the transaction, the chief operating officer directly owned 38,065 shares of the company’s stock, valued at $1,768,499.90. This trade represents a 9.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Castellan Group grew its stake in NewJersey Resources by 5.1% in the fourth quarter. Castellan Group now owns 79,843 shares of the utilities provider’s stock valued at $3,682,000 after purchasing an additional 3,851 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in NewJersey Resources by 1.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 690,179 shares of the utilities provider’s stock valued at $31,831,000 after acquiring an additional 12,335 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in NewJersey Resources by 158.6% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,808 shares of the utilities provider’s stock valued at $498,000 after acquiring an additional 6,628 shares in the last quarter. Perigon Wealth Management LLC grew its holdings in NewJersey Resources by 12.8% in the fourth quarter. Perigon Wealth Management LLC now owns 8,904 shares of the utilities provider’s stock worth $411,000 after purchasing an additional 1,012 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of NewJersey Resources by 3.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 78,099 shares of the utilities provider’s stock worth $3,639,000 after purchasing an additional 2,959 shares in 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.