NewJersey Resources (NYSE:NJR) Sees Large Volume Increase – Still a Buy?

NewJersey Resources Corporation (NYSE:NJR) saw unusually-strong trading volume on Friday. 566,286 shares traded hands during trading, a decline of 7% from the previous session’s volume of 606,154 shares. The stock last traded at $50.58 and had previously closed at $51.06.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NJR shares. JPMorgan Chase & Co. cut their price objective on shares of NewJersey Resources from $64.00 to $63.00 and set an “overweight” rating on the stock in a research report on Friday, September 11th. Wall Street Zen raised shares of NewJersey Resources from a “sell” rating to a “hold” rating in a research report on Sunday, September 20th. Wells Fargo & Company downgraded shares of NewJersey Resources from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $63.00 to $61.00 in a research note on Wednesday, August 5th. New Street Research set a $68.00 price target on shares of NewJersey Resources in a report on Monday, September 14th. Finally, Huntington began coverage on NewJersey Resources in a research report on Monday, September 14th. They set an “outperform” rating and a $68.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $61.50.

NewJersey Resources Trading Down 0.9%

The firm has a market capitalization of $5.13 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 2.94 and a beta of 0.50. The company has a fifty day moving average price of $55.18 and a two-hundred day moving average price of $55.63. The company has a current ratio of 0.66, a quick ratio of 0.45 and a debt-to-equity ratio of 1.21.

NewJersey Resources (NYSE:NJR) last posted its quarterly earnings results on Monday, August 3rd. The utilities provider reported $0.11 EPS for the quarter, beating the consensus estimate of $0.06 by $0.05. The firm had revenue of $349.18 million during the quarter, compared to analysts’ expectations of $342.13 million. NewJersey Resources had a return on equity of 14.46% and a net margin of 16.42%.The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.15) earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. As a group, research analysts forecast that NewJersey Resources Corporation will post 3.59 earnings per share for the current fiscal year.

NewJersey Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 24th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, September 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.0%. This is a boost from NewJersey Resources’s previous quarterly dividend of $0.4750. NewJersey Resources’s payout ratio is presently 52.49%.

Insider Buying and Selling at NewJersey Resources

In related news, COO Patrick Migliaccio sold 3,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $55.63, for a total value of $166,890.00. Following the completion of the sale, the chief operating officer owned 32,202 shares of the company’s stock, valued at approximately $1,791,397.26. This represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On NewJersey Resources

A number of institutional investors have recently bought and sold shares of NJR. BlackRock Inc. acquired a new stake in shares of NewJersey Resources during the 2nd quarter worth about $1,008,340,000. Energy Income Partners LLC purchased a new position in NewJersey Resources during the second quarter worth about $78,592,000. Norges Bank acquired a new stake in shares of NewJersey Resources during the fourth quarter valued at about $60,075,000. Bank of New York Mellon Corp acquired a new stake in shares of NewJersey Resources during the second quarter valued at about $57,722,000. Finally, Caisse de depot et placement du Quebec purchased a new stake in shares of NewJersey Resources in the 2nd quarter valued at approximately $29,905,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

NewJersey Resources Company Profile

New Jersey Resources Corporation (NYSE: NJR) is an energy services holding company based in Wall, New Jersey. Through its subsidiaries, the company provides regulated natural gas distribution, energy management, wholesale energy services, renewable energy development, and natural gas storage and transportation solutions.

Its principal subsidiary, New Jersey Natural Gas, operates a regulated natural gas utility serving residential, commercial, and industrial customers in central and northern New Jersey.