NewJersey Resources (NYSE:NJR) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded NewJersey Resources to “Sell” from “Hold,” though the broader analyst consensus remains “Buy” with a $58.57 price target.
• NJR reported quarterly EPS of $0.11, beating the $0.06 estimate, while revenue rose 16.8% year over year to $349.18 million; fiscal 2026 EPS guidance is $3.52–$3.62.
• The stock opened at $53.12, down 0.4%, and institutional investors own approximately 70.98% of outstanding shares. COO Patrick Migliaccio also sold 3,000 shares at an average price of $55.63.

NewJersey Resources (NYSE:NJR - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other research firms have also weighed in on NJR. JPMorgan Chase & Co. dropped their price objective on NewJersey Resources from $64.00 to $63.00 and set an "overweight" rating for the company in a research note on Friday. Argus set a $63.00 target price on NewJersey Resources in a research note on Wednesday, May 20th. Weiss Ratings cut NewJersey Resources from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. Finally, Wells Fargo & Company lowered shares of NewJersey Resources from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $63.00 to $61.00 in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $58.57.

NewJersey Resources Stock Down 0.4%

NJR opened at $53.12 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.45 and a current ratio of 0.66. NewJersey Resources has a fifty-two week low of $43.46 and a fifty-two week high of $60.86. The firm's fifty day moving average is $56.12 and its 200 day moving average is $55.71. The stock has a market cap of $5.39 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 2.97 and a beta of 0.50.

NewJersey Resources (NYSE:NJR - Get Free Report) last issued its earnings results on Monday, August 3rd. The utilities provider reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. NewJersey Resources had a net margin of 16.42% and a return on equity of 14.46%. The company had revenue of $349.18 million during the quarter, compared to the consensus estimate of $342.13 million. During the same quarter in the prior year, the firm posted ($0.15) EPS. NewJersey Resources's quarterly revenue was up 16.8% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. On average, sell-side analysts forecast that NewJersey Resources will post 3.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Patrick Migliaccio sold 3,000 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $55.63, for a total transaction of $166,890.00. Following the completion of the transaction, the chief operating officer directly 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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.70% of the company's stock.

Institutional Trading of NewJersey Resources

Several hedge funds have recently modified their holdings of NJR. BlackRock Inc. bought a new position in NewJersey Resources during the second quarter valued at $1,008,340,000. California State Teachers Retirement System increased its holdings in shares of NewJersey Resources by 5,671.3% in the 2nd quarter. California State Teachers Retirement System now owns 6,494,980 shares of the utilities provider's stock worth $363,979,000 after buying an additional 6,382,440 shares during the last quarter. Energy Income Partners LLC bought a new stake in shares of NewJersey Resources in the 2nd quarter worth about $78,592,000. Norges Bank purchased a new stake in shares of NewJersey Resources during the 4th quarter valued at about $60,075,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of NewJersey Resources during the 2nd quarter valued at about $57,722,000. 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.

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