NewJersey Resources Corporation (NYSE:NJR) Receives $51.86 Average Price Target from Brokerages

Shares of NewJersey Resources Corporation (NYSE:NJR) have received an average recommendation of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $51.8571.

Several analysts have weighed in on NJR shares. Weiss Ratings downgraded shares of NewJersey Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. Raymond James Financial reiterated an “outperform” rating and issued a $53.00 price objective on shares of NewJersey Resources in a report on Thursday, November 20th. Finally, Wall Street Zen lowered NewJersey Resources from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd.

NewJersey Resources Price Performance

Shares of NewJersey Resources stock opened at $45.86 on Friday. The firm has a market capitalization of $4.62 billion, a PE ratio of 13.77 and a beta of 0.61. The company has a current ratio of 0.73, a quick ratio of 0.40 and a debt-to-equity ratio of 1.36. NewJersey Resources has a 12 month low of $43.46 and a 12 month high of $50.76. The business’s 50-day moving average price is $46.12 and its 200-day moving average price is $46.15.

NewJersey Resources (NYSE:NJR) last issued its earnings results on Wednesday, November 19th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. The business had revenue of $336.08 million during the quarter, compared to analyst estimates of $307.30 million. NewJersey Resources had a return on equity of 13.73% and a net margin of 16.48%.NewJersey Resources’s revenue for the quarter was down 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.030-3.180 EPS. Sell-side analysts forecast that NewJersey Resources will post 3.15 EPS for the current fiscal year.

NewJersey Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 12th will be paid a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, December 12th. NewJersey Resources’s payout ratio is presently 57.06%.

Institutional Investors Weigh In On NewJersey Resources

A number of large investors have recently added to or reduced their stakes in NJR. Dimensional Fund Advisors LP raised its stake in shares of NewJersey Resources by 3.8% during the third quarter. Dimensional Fund Advisors LP now owns 3,566,321 shares of the utilities provider’s stock valued at $171,717,000 after acquiring an additional 130,831 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of NewJersey Resources by 0.7% during the second quarter. Geode Capital Management LLC now owns 2,545,394 shares of the utilities provider’s stock valued at $114,097,000 after purchasing an additional 16,954 shares in the last quarter. Northern Trust Corp boosted its holdings in NewJersey Resources by 1.1% in the third quarter. Northern Trust Corp now owns 1,335,344 shares of the utilities provider’s stock worth $64,297,000 after acquiring an additional 14,512 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in NewJersey Resources by 0.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,274,588 shares of the utilities provider’s stock worth $62,531,000 after purchasing an additional 7,132 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of NewJersey Resources during the second quarter valued at approximately $52,671,000. Institutional investors own 70.98% of the company’s stock.

NewJersey Resources Company Profile

New Jersey Resources Corporation, an energy services holding company, distributes natural gas. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Storage and Transportation. The Natural Gas Distribution segment offers regulated natural gas utility services to approximately 576,000 customers in Burlington, Middlesex, Monmouth, Morris, Ocean, and Sussex counties in New Jersey; provides capacity and storage management services; and participates in the off-system sales and capacity release markets.