Mizuho Issues Positive Forecast for NewJersey Resources (NYSE:NJR) Stock Price

NewJersey Resources (NYSE:NJR) had its price objective raised by Mizuho from $54.00 to $61.00 in a research report report published on Tuesday morning, MarketBeat Ratings reports. The firm currently has an outperform rating on the utilities provider’s stock.

Several other research firms have also commented on NJR. Raymond James Financial reissued an “outperform” rating on shares of NewJersey Resources in a research report on Tuesday, February 3rd. Williams Trading set a $55.00 price target on NewJersey Resources in a research report on Tuesday, February 3rd. Weiss Ratings raised NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 13th. Wall Street Zen raised NewJersey Resources from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Argus raised NewJersey Resources to a “strong-buy” rating in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $54.50.

NewJersey Resources Price Performance

Shares of NJR stock opened at $55.07 on Tuesday. NewJersey Resources has a twelve month low of $43.46 and a twelve month high of $57.70. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 17.05 and a beta of 0.55. The stock has a fifty day simple moving average of $54.68 and a two-hundred day simple moving average of $49.66. The company has a current ratio of 0.83, a quick ratio of 0.58 and a debt-to-equity ratio of 1.32.

NewJersey Resources (NYSE:NJR) last issued its earnings results on Monday, February 2nd. The utilities provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.22. NewJersey Resources had a return on equity of 13.06% and a net margin of 15.18%.The business had revenue of $604.85 million during the quarter, compared to analysts’ expectations of $546.90 million. During the same period in the prior year, the business earned $1.29 EPS. 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. On average, analysts predict that NewJersey Resources will post 3.31 EPS for the current fiscal year.

NewJersey Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, June 10th. NewJersey Resources’s payout ratio is presently 58.82%.

Insider Activity

In related news, CFO Roberto Bel sold 6,105 shares of the company’s 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 directly owned 19,780 shares of the company’s stock, valued at $1,089,878. This represents a 23.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Richard Reich sold 5,449 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $52.99, for a total value of $288,742.51. Following the transaction, the senior vice president directly owned 26,975 shares in the company, valued at $1,429,405.25. This represents a 16.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. purchased a new stake in shares of NewJersey Resources in the third quarter worth about $1,136,000. Thrivent Financial for Lutherans boosted its stake in shares of NewJersey Resources by 200.1% in the third quarter. Thrivent Financial for Lutherans now owns 71,444 shares of the utilities provider’s stock worth $3,440,000 after buying an additional 47,635 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of NewJersey Resources by 603.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 81,289 shares of the utilities provider’s stock worth $3,784,000 after buying an additional 69,736 shares during the last quarter. Aptus Capital Advisors LLC boosted its stake in shares of NewJersey Resources by 14.9% in the third quarter. Aptus Capital Advisors LLC now owns 200,427 shares of the utilities provider’s stock worth $9,651,000 after buying an additional 26,020 shares during the last quarter. Finally, Advisors Preferred LLC boosted its stake in shares of NewJersey Resources by 147.1% in the third quarter. Advisors Preferred LLC now owns 133,438 shares of the utilities provider’s stock worth $6,361,000 after buying an additional 79,436 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

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.