Brokerages Set NewJersey Resources Corporation (NYSE:NJR) Target Price at $53.33

NewJersey Resources Corporation (NYSE:NJR) has received an average rating of “Buy” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $53.3333.

NJR has been the subject of several recent analyst reports. Williams Trading set a $55.00 price objective on shares of NewJersey Resources in a research note on Tuesday, February 3rd. Wall Street Zen upgraded shares of NewJersey Resources from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Raymond James Financial reiterated an “outperform” rating on shares of NewJersey Resources in a research note on Tuesday, February 3rd. New Street Research set a $54.00 price objective on shares of NewJersey Resources in a research note on Wednesday, December 17th. Finally, Mizuho upgraded shares of NewJersey Resources from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $51.00 to $54.00 in a research report on Wednesday, December 17th.

NewJersey Resources Stock Down 1.8%

Shares of NYSE NJR opened at $55.92 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.83 and a debt-to-equity ratio of 1.32. NewJersey Resources has a 52 week low of $43.46 and a 52 week high of $57.70. The firm has a 50-day moving average price of $54.26 and a 200 day moving average price of $49.31. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of 17.31 and a beta of 0.55.

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

NewJersey Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 11th were given a dividend of $0.475 per share. The ex-dividend date was Wednesday, March 11th. This represents a $1.90 dividend on an annualized basis and a yield of 3.4%. NewJersey Resources’s payout ratio is presently 58.82%.

Insider Transactions at NewJersey Resources

In other NewJersey Resources news, SVP Richard Reich sold 5,449 shares of NewJersey Resources stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $52.99, for a total transaction of $288,742.51. Following the completion of the transaction, the senior vice president owned 26,975 shares in the company, valued at approximately $1,429,405.25. The trade was a 16.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Roberto Bel sold 6,105 shares of NewJersey Resources stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $55.10, for a total transaction of $336,385.50. Following the transaction, the chief financial officer owned 19,780 shares of the company’s stock, valued at approximately $1,089,878. The trade was a 23.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On NewJersey Resources

A number of 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 NewJersey Resources during the third quarter worth about $28,000. Bessemer Group Inc. raised its position 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 last quarter. Tradewinds Capital Management LLC acquired a new position in NewJersey Resources during the third quarter worth about $30,000. Torren Management LLC purchased a new stake in shares of NewJersey Resources during the fourth quarter worth about $35,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of NewJersey Resources by 118.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 933 shares of the utilities provider’s stock worth $43,000 after buying an additional 505 shares in the last quarter. 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.