NewJersey Resources Corporation (NYSE:NJR) Receives Consensus Recommendation of "Buy" from Brokerages

Key Points

• Analysts maintain a “Buy” consensus on NewJersey Resources, with three buy ratings, one strong buy and one hold. The average 12-month price target is $57.83, compared with the stock’s reported price of $53.35.
• Recent analyst actions were mixed: Weiss Ratings and Wells Fargo reduced their ratings, while Wells Fargo cut its target from $63 to $61; Argus maintained a $63 target.
• NJR exceeded quarterly expectations, reporting EPS of $0.11 versus the $0.06 consensus and revenue of $349.18 million, up 16.8% year over year. The company issued fiscal 2026 EPS guidance of $3.52–$3.62.

NewJersey Resources Corporation (NYSE:NJR - Get Free Report) has been given an average rating of "Buy" by the five analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $57.8333.

Several research firms recently commented on NJR. 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. Argus set a $63.00 target price on shares of NewJersey Resources in a research note on Wednesday, May 20th. Finally, Wells Fargo & Company lowered 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.

Insider Buying and Selling

In other NewJersey Resources news, COO Patrick Migliaccio sold 3,000 shares of the firm's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $55.63, for a total transaction of $166,890.00. Following the completion of the sale, the chief operating officer directly owned 32,202 shares in the company, valued at approximately $1,791,397.26. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.70% of the company's stock.

Institutional Investors Weigh In On NewJersey Resources

A number of institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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. NewEdge Advisors LLC boosted its holdings in shares of NewJersey Resources by 65.7% during the 1st quarter. NewEdge Advisors LLC now owns 22,214 shares of the utilities provider's stock valued at $1,090,000 after acquiring 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% during 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 valued at $15,705,000 after acquiring an additional 29,458 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of NewJersey Resources in the first quarter worth approximately $8,907,000. Finally, Invesco Ltd. grew its stake in shares of NewJersey Resources by 14.4% in the second quarter. Invesco Ltd. now owns 465,923 shares of the utilities provider's stock worth $20,883,000 after acquiring an additional 58,795 shares during the period. Hedge funds and other institutional investors own 70.98% of the company's stock.

NewJersey Resources Trading Down 0.1%

NYSE NJR opened at $53.35 on Tuesday. The firm has a market capitalization of $5.41 billion, a PE ratio of 14.74, a P/E/G ratio of 2.97 and a beta of 0.50. The stock's 50 day moving average is $56.39 and its 200 day moving average is $55.71. NewJersey Resources has a twelve month low of $43.46 and a twelve month high of $60.86. 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 (NYSE:NJR - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The utilities provider reported $0.11 EPS for the quarter, beating the consensus estimate of $0.06 by $0.05. NewJersey Resources had a return on equity of 14.46% and a net margin of 16.42%.The business had revenue of $349.18 million during the quarter, compared to analyst estimates of $342.13 million. During the same quarter last year, the firm posted ($0.15) earnings per share. The company's revenue for the quarter was up 16.8% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. Research analysts forecast that NewJersey Resources will post 3.59 earnings per share for the current fiscal year.

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.

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