NewJersey Resources Corporation (NYSE:NJR) Receives $58.17 Average Target Price from Analysts

Shares of NewJersey Resources Corporation (NYSE:NJR) have received an average recommendation of “Buy” from the five analysts that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $58.1667.

Several brokerages have recently issued reports on NJR. Argus set a $63.00 price objective on NewJersey Resources in a research report on Wednesday, May 20th. Mizuho increased their target price on NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, April 21st. Weiss Ratings upgraded NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. Finally, Wells Fargo & Company initiated coverage on NewJersey Resources in a research note on Tuesday, May 12th. They issued an “overweight” rating and a $63.00 target price for the company.

Insider Transactions at NewJersey Resources

In other news, COO Patrick J. Migliaccio sold 3,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $55.84, for a total value of $167,520.00. Following the transaction, the chief operating officer directly owned 35,202 shares of the company’s stock, valued at approximately $1,965,679.68. This represents a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher T. D’antuono sold 1,150 shares of NewJersey Resources stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $57.34, for a total value of $65,941.00. Following the sale, the insider owned 2,985 shares of the company’s stock, valued at approximately $171,159.90. This represents a 27.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,150 shares of company stock valued at $682,261 in the last quarter. Insiders own 0.70% of the company’s stock.

Institutional Trading of NewJersey Resources

Several large investors have recently modified their holdings of NJR. PNC Financial Services Group Inc. raised its position in shares of NewJersey Resources by 29.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 46,535 shares of the utilities provider’s stock worth $2,146,000 after acquiring an additional 10,666 shares in the last quarter. SG Americas Securities LLC boosted its stake in NewJersey Resources by 1,989.9% during the 4th quarter. SG Americas Securities LLC now owns 166,003 shares of the utilities provider’s stock valued at $7,656,000 after purchasing an additional 158,060 shares during the last quarter. World Investment Advisors purchased a new stake in NewJersey Resources in the 4th quarter valued at $1,924,000. JPMorgan Chase & Co. lifted its position in shares of NewJersey Resources by 2.5% during the third quarter. JPMorgan Chase & Co. now owns 687,125 shares of the utilities provider’s stock valued at $33,085,000 after purchasing an additional 17,035 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of NewJersey Resources in the 4th quarter worth approximately $60,075,000. 70.98% of the stock is owned by institutional investors.

NewJersey Resources Stock Up 0.9%

NYSE:NJR opened at $58.91 on Monday. The stock’s fifty day moving average is $56.57 and its two-hundred day moving average is $54.27. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of 17.48 and a beta of 0.50. NewJersey Resources has a 52 week low of $43.46 and a 52 week high of $60.69. The company has a quick ratio of 0.80, a current ratio of 0.94 and a debt-to-equity ratio of 1.24.

NewJersey Resources (NYSE:NJR) last posted its earnings results on Monday, May 4th. The utilities provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.31. NewJersey Resources had a net margin of 15.67% and a return on equity of 14.58%. The firm had revenue of $939.40 million for the quarter, compared to the consensus estimate of $849.95 million. During the same period last year, the firm posted $1.78 EPS. The company’s revenue was up 2.9% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. Research analysts anticipate that NewJersey Resources will post 3.58 EPS for the current year.

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.