NewJersey Resources Corporation (NYSE:NJR) Receives $57.83 Consensus PT from Analysts

NewJersey Resources Corporation (NYSE:NJR) has earned an average rating of “Buy” from the five brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $57.8333.

Several equities analysts have weighed in on NJR shares. Argus set a $63.00 price objective on NewJersey Resources in a research note on Wednesday, May 20th. Weiss Ratings lowered shares of NewJersey Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Finally, 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 report on Wednesday, August 5th.

NewJersey Resources Trading Down 0.3%

NYSE NJR opened at $53.34 on Tuesday. The company has a quick ratio of 0.45, a current ratio of 0.66 and a debt-to-equity ratio of 1.21. NewJersey Resources has a 52 week low of $43.46 and a 52 week high of $60.86. The business has a 50 day moving average price of $56.21 and a 200-day moving average price of $55.73. The company has a market cap of $5.41 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 2.98 and a beta of 0.50.

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

Insider Activity

In related news, COO Patrick Migliaccio sold 3,000 shares of NewJersey Resources stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $55.63, for a total value of $166,890.00. Following the sale, the chief operating officer owned 32,202 shares of the company’s stock, valued at approximately $1,791,397.26. The trade was a 8.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NewJersey Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in NewJersey Resources by 6.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,363 shares of the utilities provider’s stock valued at $2,912,000 after buying an additional 3,422 shares during the period. NewEdge Advisors LLC lifted its stake in NewJersey Resources by 65.7% during the first quarter. NewEdge Advisors LLC now owns 22,214 shares of the utilities provider’s stock worth $1,090,000 after purchasing an additional 8,808 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of NewJersey Resources by 10.1% in 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 in the last quarter. Jane Street Group LLC purchased a new position in shares of NewJersey Resources in the 1st quarter worth about $8,907,000. Finally, Invesco Ltd. increased its position in shares of NewJersey Resources by 14.4% during the 2nd quarter. Invesco Ltd. now owns 465,923 shares of the utilities provider’s stock valued at $20,883,000 after purchasing an additional 58,795 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

About NewJersey Resources

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.