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

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on NJR. Jefferies Financial Group began coverage on NewJersey Resources in a report on Tuesday, April 1st. They set a "hold" rating and a $51.00 price target on the stock. Raymond James Financial began coverage on NewJersey Resources in a report on Friday, June 13th. They set an "outperform" rating and a $49.00 price target on the stock. New Street Research set a $51.00 price target on NewJersey Resources in a report on Tuesday, April 1st. Mizuho cut their price target on NewJersey Resources from $52.00 to $50.00 and set a "neutral" rating on the stock in a report on Thursday, May 15th. Finally, JPMorgan Chase & Co. lowered their price objective on NewJersey Resources from $56.00 to $51.00 and set an "overweight" rating for the company in a research report on Wednesday, May 28th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $51.29.

NewJersey Resources Stock Down 0.4%

Shares of NYSE:NJR traded down $0.20 on Friday, hitting $44.76. 1,350,544 shares of the company's stock were exchanged, compared to its average volume of 555,106. The firm's 50-day moving average is $46.41 and its 200 day moving average is $47.09. The company has a market capitalization of $4.49 billion, a PE ratio of 10.86 and a beta of 0.62. NewJersey Resources has a 1-year low of $41.68 and a 1-year high of $51.95. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.73 and a current ratio of 0.93.

NewJersey Resources (NYSE:NJR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.11. The business had revenue of $913.03 million during the quarter, compared to analysts' expectations of $732.00 million. NewJersey Resources had a return on equity of 16.95% and a net margin of 20.03%. The business's quarterly revenue was up 38.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.41 EPS. Sell-side analysts predict that NewJersey Resources will post 3.15 EPS for the current year.

NewJersey Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th will be given a $0.45 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.02%. NewJersey Resources's dividend payout ratio (DPR) is presently 43.69%.

Insider Activity at NewJersey Resources

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

Institutional Trading of NewJersey Resources

Hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new stake in NewJersey Resources during the 1st quarter worth approximately $8,907,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in 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 worth $15,705,000 after acquiring an additional 29,458 shares during the period. NewEdge Advisors LLC lifted its position in NewJersey Resources by 65.7% during the 1st quarter. NewEdge Advisors LLC now owns 22,214 shares of the utilities provider's stock worth $1,090,000 after acquiring an additional 8,808 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in NewJersey Resources by 6.1% during 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 acquiring an additional 3,422 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

NewJersey Resources Company Profile

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.