NewJersey Resources Corporation (NYSE:NJR) Stock Has Consensus Target Price of $61.50

Key Points

• Analysts maintain a bullish view: NewJersey Resources has a consensus “Buy” rating from seven firms, with an average 12-month price target of $61.50 versus shares recently trading at $51.58.
• The company exceeded quarterly expectations, reporting $0.11 EPS versus the $0.06 consensus and $349.18 million in revenue. Analysts project approximately $3.59 in EPS for the current fiscal year.
• NJR increased its quarterly dividend to $0.50 per share, equivalent to a $2.00 annualized payout and a 3.9% yield; institutional investors own nearly 71% of the stock.

NewJersey Resources Corporation (NYSE:NJR - Get Free Report) has been given a consensus rating of "Buy" by the seven research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $61.50.

A number of analysts have issued reports on the company. New Street Research set a $68.00 price target on NewJersey Resources in a report on Monday, September 14th. Weiss Ratings cut NewJersey Resources from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of NewJersey Resources from a "sell" rating to a "hold" rating in a research note on Sunday, September 20th. Huntington began coverage on shares of NewJersey Resources in a research report on Monday, September 14th. They set an "outperform" rating and a $68.00 price objective for the company. Finally, Wells Fargo & Company cut 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 Activity

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 stock was sold at an average price of $55.63, for a total transaction of $166,890.00. Following the transaction, the chief operating officer owned 32,202 shares of the company's stock, valued at approximately $1,791,397.26. This trade represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.70% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Root Financial Partners LLC boosted its holdings in shares of NewJersey Resources by 56.5% in the first quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider's stock valued at $29,000 after acquiring an additional 190 shares during the period. Essential Partners LLC raised its position in NewJersey Resources by 67.3% in the 2nd quarter. Essential Partners LLC now owns 686 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 276 shares during the last quarter. CENTRAL TRUST Co boosted its stake in NewJersey Resources by 172.7% during the 1st quarter. CENTRAL TRUST Co now owns 818 shares of the utilities provider's stock worth $45,000 after purchasing an additional 518 shares during the period. Roxbury Financial LLC grew its position in NewJersey Resources by 72.9% during the 2nd quarter. Roxbury Financial LLC now owns 885 shares of the utilities provider's stock worth $50,000 after purchasing an additional 373 shares during the last quarter. Finally, Fiduciary Financial Advisors purchased a new position in NewJersey Resources during the 2nd quarter worth $51,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

NewJersey Resources Trading Up 0.8%

Shares of NYSE:NJR opened at $51.58 on Friday. NewJersey Resources has a 52 week low of $43.46 and a 52 week high of $60.86. The company's 50 day moving average is $54.22 and its two-hundred day moving average is $55.48. The company has a market cap of $5.23 billion, a PE ratio of 14.25, a P/E/G ratio of 2.98 and a beta of 0.48. The company has a current ratio of 0.66, a quick ratio of 0.45 and a debt-to-equity ratio of 1.21.

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

NewJersey Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 24th were paid a $0.50 dividend. This is a boost from NewJersey Resources's previous quarterly dividend of $0.4750. This represents a $2.00 annualized dividend and a yield of 3.9%. The ex-dividend date was Thursday, September 24th. NewJersey Resources's payout ratio is currently 55.25%.

About NewJersey Resources

New Jersey Resources Corporation NYSE: NJR is an energy services holding company headquartered in Wall, New Jersey. Through its subsidiaries, the company provides natural gas distribution, transportation, storage, wholesale marketing, and related energy services, with operations focused primarily on New Jersey and the broader Mid-Atlantic region.

NJR's principal utility subsidiary, New Jersey Natural Gas, delivers natural gas to residential, commercial, and industrial customers across much of New Jersey.

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