Analysts Set NewJersey Resources Corporation (NYSE:NJR) Target Price at $53.00

Shares of NewJersey Resources Corporation (NYSE:NJR) have earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat reports. Two research analysts have 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 $53.00.

Several analysts have recently commented on NJR shares. Mizuho upgraded shares of NewJersey Resources from a “neutral” rating to an “outperform” rating and increased their target price for the company from $51.00 to $54.00 in a report on Wednesday, December 17th. Weiss Ratings upgraded shares of NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 13th. New Street Research set a $54.00 price objective on shares of NewJersey Resources in a research report on Wednesday, December 17th. Argus upgraded shares of NewJersey Resources to a “strong-buy” rating in a research note on Thursday, January 22nd. Finally, Raymond James Financial reissued an “outperform” rating on shares of NewJersey Resources in a research report on Tuesday, February 3rd.

Insider Buying and Selling at NewJersey Resources

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 4,017 shares of the business’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $46.46, for a total value of $186,629.82. Following the transaction, the chief operating officer owned 38,065 shares of the company’s stock, valued at approximately $1,768,499.90. The trade was a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Roberto Bel sold 6,105 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $55.10, for a total value of $336,385.50. Following the completion of the transaction, the chief financial officer owned 19,780 shares of the company’s stock, valued at $1,089,878. This trade represents a 23.59% decrease in their position. The SEC filing for this sale provides additional information. 0.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NewJersey Resources

Several institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in NewJersey Resources by 6.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,363 shares of the utilities provider’s stock worth $2,912,000 after acquiring an additional 3,422 shares during the period. NewEdge Advisors LLC grew its position in shares of NewJersey Resources by 65.7% during the 1st quarter. NewEdge Advisors LLC now owns 22,214 shares of the utilities provider’s stock valued at $1,090,000 after acquiring an additional 8,808 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of NewJersey Resources by 10.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 320,113 shares of the utilities provider’s stock worth $15,705,000 after purchasing an additional 29,458 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of NewJersey Resources during the 1st quarter worth approximately $8,907,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of NewJersey Resources in the 2nd quarter worth approximately $605,000. Institutional investors own 70.98% of the company’s stock.

NewJersey Resources Stock Up 1.0%

Shares of NYSE:NJR opened at $53.80 on Tuesday. The business’s 50 day moving average is $51.80 and its 200 day moving average is $48.28. NewJersey Resources has a 12-month low of $43.46 and a 12-month high of $55.49. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 16.66 and a beta of 0.57. 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 (NYSE:NJR) last released its quarterly earnings results on Monday, February 2nd. The utilities provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $546.90 million. During the same period in the prior year, the firm posted $1.29 EPS. NewJersey Resources’s quarterly revenue 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, sell-side analysts forecast that NewJersey Resources will post 3.15 earnings per share for the current fiscal year.

NewJersey Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 11th will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Wednesday, March 11th. NewJersey Resources’s dividend payout ratio (DPR) is 58.82%.

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.