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

Key Points

• NewJersey Resources issued FY 2025 earnings guidance of $3.200-3.300 EPS, surpassing the consensus estimate of $3.188.
• The company reported a quarterly earnings per share of $0.06 which exceeded analysts' expectations, alongside revenue of $298.95 million, though slightly below consensus estimates.
• Research firms have given mixed evaluations, with Raymond James raising their price target on the stock to $50.00 while other firms adjusted their targets downwards in recent reports.

NewJersey Resources (NYSE:NJR - Get Free Report) issued an update on its FY 2025 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 3.200-3.300 for the period, compared to the consensus estimate of 3.188. The company issued revenue guidance of -.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NJR. Wells Fargo & Company lifted their price target on NewJersey Resources from $51.00 to $53.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Wall Street Zen downgraded NewJersey Resources from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. dropped their price target 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. Mizuho dropped their price target on NewJersey Resources from $52.00 to $50.00 and set a "neutral" rating for the company in a research report on Thursday, May 15th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $50.00 price target (up previously from $49.00) on shares of NewJersey Resources in a research report on Friday, August 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, NewJersey Resources currently has a consensus rating of "Hold" and a consensus price target of $51.43.

NewJersey Resources Price Performance

NYSE:NJR traded down $0.54 during mid-day trading on Friday, reaching $46.95. The stock had a trading volume of 756,465 shares, compared to its average volume of 619,583. The firm has a 50 day moving average price of $45.67 and a two-hundred day moving average price of $46.94. The stock has a market capitalization of $4.72 billion, a P/E ratio of 11.48 and a beta of 0.64. NewJersey Resources has a one year low of $43.80 and a one year high of $51.94. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.48 and a current ratio of 0.76.

NewJersey Resources (NYSE:NJR - Get Free Report) last released its earnings results on Monday, August 4th. The utilities provider reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.12. NewJersey Resources had a return on equity of 17.08% and a net margin of 19.64%. The company had revenue of $298.95 million during the quarter, compared to the consensus estimate of $305.05 million. During the same quarter in the previous year, the company posted ($0.09) EPS. NewJersey Resources's quarterly revenue was up 8.5% compared to the same quarter last year. As a group, analysts expect that NewJersey Resources will post 3.15 earnings per share for the current year.

Insiders Place Their Bets

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 1,500 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was 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 owned 35,690 shares in the company, valued at approximately $1,578,211.80. The trade was a 4.03% 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 0.72% of the company's stock.

Institutional Trading of NewJersey Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Daiwa Securities Group Inc. purchased a new position in shares of NewJersey Resources during the second quarter valued at approximately $54,000. EverSource Wealth Advisors LLC increased its stake in shares of NewJersey Resources by 259.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,203 shares of the utilities provider's stock valued at $54,000 after buying an additional 868 shares during the period. Walleye Capital LLC purchased a new position in shares of NewJersey Resources during the second quarter valued at approximately $221,000. Quantinno Capital Management LP increased its stake in shares of NewJersey Resources by 24.6% during the second quarter. Quantinno Capital Management LP now owns 5,786 shares of the utilities provider's stock valued at $259,000 after buying an additional 1,144 shares during the period. Finally, Orion Porfolio Solutions LLC increased its stake in shares of NewJersey Resources by 50.9% during the second quarter. Orion Porfolio Solutions LLC now owns 6,866 shares of the utilities provider's stock valued at $308,000 after buying an additional 2,315 shares during the period. Institutional investors own 70.98% of the company's stock.

About NewJersey Resources

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.