NewJersey Resources (NYSE:NJR) Stock Rating Upgraded by 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 released on Saturday.

Several other equities research analysts have also weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of NewJersey Resources in a research report on Monday, December 29th. Mizuho upgraded shares of NewJersey Resources from a “neutral” rating to an “outperform” rating and increased their price target for the company from $51.00 to $54.00 in a research note on Wednesday, December 17th. Williams Trading set a $55.00 price objective on shares of NewJersey Resources in a report on Tuesday. New Street Research set a $54.00 price objective on shares of NewJersey Resources in a research report on Wednesday, December 17th. Finally, Argus raised shares of NewJersey Resources to a “strong-buy” rating in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, NewJersey Resources presently has a consensus rating of “Moderate Buy” and an average target price of $53.00.

NewJersey Resources Price Performance

NewJersey Resources stock opened at $52.45 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.40 and a debt-to-equity ratio of 1.32. The company has a fifty day simple moving average of $47.28 and a 200-day simple moving average of $46.83. The stock has a market cap of $5.29 billion, a P/E ratio of 16.24 and a beta of 0.60. NewJersey Resources has a 12-month low of $43.46 and a 12-month high of $53.65.

NewJersey Resources (NYSE:NJR) last posted its earnings results on Monday, February 2nd. The utilities provider reported $1.17 EPS for the quarter, beating the consensus estimate of $0.95 by $0.22. The firm had revenue of $604.85 million for the quarter, compared to analyst estimates of $546.90 million. NewJersey Resources had a return on equity of 13.06% and a net margin of 15.18%.NewJersey Resources’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.29 earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.280-3.43 EPS. Equities analysts expect that NewJersey Resources will post 3.15 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Patrick J. Migliaccio sold 4,017 shares of the stock in a transaction 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 completion of the sale, the chief operating officer owned 38,065 shares in the company, valued at $1,768,499.90. This represents a 9.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NewJersey Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Measured Wealth Private Client Group LLC acquired a new stake in shares of NewJersey Resources in the 3rd quarter valued at approximately $28,000. Bessemer Group Inc. grew its holdings in NewJersey Resources by 60.1% during the third quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 230 shares during the period. Tradewinds Capital Management LLC purchased a new position in NewJersey Resources in the third quarter worth $30,000. Torren Management LLC acquired a new stake in NewJersey Resources in the fourth quarter valued at $35,000. Finally, Cullen Frost Bankers Inc. lifted its holdings in NewJersey Resources by 153.0% in the second quarter. Cullen Frost Bankers Inc. now owns 754 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 456 shares during the period. 70.98% of the stock is owned by hedge funds and other 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.