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

Key Points

• Analyst sentiment is positive: NewJersey Resources has a consensus rating of "Buy" from five brokerages, with an average 12-month price target of about $58.17. Recent coverage from Wells Fargo, Argus, Mizuho, and Weiss Ratings also leaned bullish.
• Strong quarterly results beat estimates: The company reported $2.20 EPS on revenue of $939.4 million, topping analyst expectations of $1.89 EPS and $849.95 million in revenue. Revenue rose 2.9% year over year, and management set FY 2026 guidance at $3.48 to $3.63 EPS.
• The stock also offers income and has seen insider selling: NewJersey Resources declared a quarterly dividend of $0.475 per share, or $1.90 annually, for a yield of about 3.4%. Meanwhile, insiders sold shares in recent months, including COO Patrick J. Migliaccio and insider Christopher T. D'antuono.

Shares of NewJersey Resources Corporation (NYSE:NJR - Get Free Report) have been given an average recommendation of "Buy" by the five brokerages that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $58.1667.

A number of analysts have recently weighed in on NJR shares. Weiss Ratings upgraded NewJersey Resources from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, May 27th. Wells Fargo & Company started coverage on NewJersey Resources in a research report on Tuesday, May 12th. They set an "overweight" rating and a $63.00 target price for the company. Argus set a $63.00 target price on NewJersey Resources in a research report on Wednesday, May 20th. Finally, Mizuho upped their price objective on NewJersey Resources from $54.00 to $61.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 21st.

Insider Buying and Selling

In related news, COO Patrick J. Migliaccio sold 3,000 shares of the company's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $55.84, for a total transaction of $167,520.00. Following the completion of the sale, the chief operating officer directly owned 35,202 shares in the company, valued at $1,965,679.68. This represents a 7.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher T. D'antuono sold 1,150 shares of the company's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $57.34, for a total value of $65,941.00. Following the sale, the insider owned 2,985 shares of the company's stock, valued at approximately $171,159.90. This represents a 27.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 12,150 shares of company stock worth $682,261 in the last ninety days. 0.70% of the stock is owned by insiders.

Institutional Trading of NewJersey Resources

Several institutional investors and hedge funds have recently modified their holdings of NJR. PNC Financial Services Group Inc. increased its holdings in NewJersey Resources by 29.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 46,535 shares of the utilities provider's stock worth $2,146,000 after purchasing an additional 10,666 shares in the last quarter. Victory Capital Management Inc. increased its holdings in NewJersey Resources by 68.2% in the 3rd quarter. Victory Capital Management Inc. now owns 610,166 shares of the utilities provider's stock worth $29,379,000 after purchasing an additional 247,310 shares in the last quarter. Aptus Capital Advisors LLC increased its holdings in NewJersey Resources by 14.9% in the 3rd quarter. Aptus Capital Advisors LLC now owns 200,427 shares of the utilities provider's stock worth $9,651,000 after purchasing an additional 26,020 shares in the last quarter. SG Americas Securities LLC increased its holdings in NewJersey Resources by 1,989.9% in the 4th quarter. SG Americas Securities LLC now owns 166,003 shares of the utilities provider's stock worth $7,656,000 after purchasing an additional 158,060 shares in the last quarter. Finally, Inceptionr LLC acquired a new position in NewJersey Resources in the 3rd quarter worth about $572,000. 70.98% of the stock is currently owned by institutional investors.

NewJersey Resources Stock Performance

NYSE:NJR opened at $56.61 on Thursday. The stock has a fifty day moving average price of $55.80 and a 200-day moving average price of $52.63. The company has a market cap of $5.71 billion, a price-to-earnings ratio of 16.80 and a beta of 0.50. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.80 and a current ratio of 0.94. NewJersey Resources has a fifty-two week low of $43.46 and a fifty-two week high of $58.57.

NewJersey Resources (NYSE:NJR - Get Free Report) last released its earnings results on Monday, May 4th. The utilities provider reported $2.20 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.31. The firm had revenue of $939.40 million during the quarter, compared to the consensus estimate of $849.95 million. NewJersey Resources had a return on equity of 14.58% and a net margin of 15.67%.The company's revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.78 EPS. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. As a group, equities analysts anticipate that NewJersey Resources will post 3.57 EPS for the current fiscal year.

NewJersey Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th will be given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Wednesday, June 10th. NewJersey Resources's dividend payout ratio is currently 56.38%.

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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