NewJersey Resources (NYSE:NJR) Releases FY 2025 Earnings Guidance

NewJersey Resources (NYSE:NJR) issued an update on its FY 2025 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 3.150-3.300 for the period. The company issued revenue guidance of -.

NewJersey Resources Stock Down 1.7%

NJR stock opened at $44.38 on Thursday. The stock has a market capitalization of $4.45 billion, a P/E ratio of 10.77 and a beta of 0.62. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.93 and a quick ratio of 0.73. NewJersey Resources has a 1-year low of $41.68 and a 1-year high of $51.95. The business has a fifty day moving average price of $46.60 and a 200-day moving average price of $47.14.

NewJersey Resources (NYSE:NJR) last released its quarterly earnings data on Monday, May 5th. The utilities provider reported $1.76 EPS for the quarter, topping the consensus estimate of $1.65 by $0.11. The company had revenue of $913.03 million during the quarter, compared to the consensus estimate of $732.00 million. NewJersey Resources had a return on equity of 16.95% and a net margin of 20.03%. NewJersey Resources’s revenue for the quarter was up 38.8% on a year-over-year basis. During the same period last year, the company earned $1.41 EPS. Equities analysts forecast that NewJersey Resources will post 3.15 earnings per share for the current fiscal year.

NewJersey Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Tuesday, June 10th. NewJersey Resources’s dividend payout ratio is currently 43.69%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NJR shares. Jefferies Financial Group initiated coverage on shares of NewJersey Resources in a research note on Tuesday, April 1st. They set a “hold” rating and a $51.00 target price for the company. Wall Street Zen raised NewJersey Resources from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Raymond James Financial assumed coverage on NewJersey Resources in a report on Friday, June 13th. They issued an “outperform” rating and a $49.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on NewJersey Resources from $56.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 28th. Finally, Wells Fargo & Company boosted their price target on NewJersey Resources from $51.00 to $53.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $51.29.

Insider Buying and Selling

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 1,500 shares of the business’s stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $44.22, for a total transaction of $66,330.00. Following the completion of the sale, the chief operating officer now owns 35,690 shares of the company’s stock, valued at approximately $1,578,211.80. The trade was a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Roberto Bel sold 1,173 shares of NewJersey Resources stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $50.00, for a total value of $58,650.00. Following the transaction, the chief financial officer now directly owns 22,649 shares in the company, valued at approximately $1,132,450. The trade was a 4.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Hedge Funds Weigh In On NewJersey Resources

Several large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new stake in shares of NewJersey Resources in the first quarter worth $8,907,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in 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 buying an additional 29,458 shares during the period. NewEdge Advisors LLC boosted its holdings in NewJersey Resources by 65.7% in the 1st quarter. NewEdge Advisors LLC now owns 22,214 shares of the utilities provider’s stock worth $1,090,000 after buying an additional 8,808 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in NewJersey Resources by 6.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,363 shares of the utilities provider’s stock worth $2,912,000 after buying an additional 3,422 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

About NewJersey Resources

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.