NewJersey Resources (NYSE:NJR) Reaches New 1-Year High on Strong Earnings

Key Points

• Shares of NewJersey Resources reached a new 52-week high after reporting quarterly EPS of $2.20 (versus $1.89 expected) and revenue of $939.4M, and the company set FY2026 guidance of 3.480–3.630 EPS.
• The company announced a quarterly dividend of $0.475 (annualized $1.90) with an ex-dividend date of June 10 and a yield of about 3.4%.
• Analysts have a consensus Buy rating with a $54.50 target (several upgrades, including Mizuho to $61), while insiders recently sold shares and institutional ownership is roughly 71%.

NewJersey Resources Corporation (NYSE:NJR - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday following a stronger than expected earnings report. The company traded as high as $57.85 and last traded at $56.2040, with a volume of 167643 shares changing hands. The stock had previously closed at $56.10.

The utilities provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.31. NewJersey Resources had a net margin of 15.18% and a return on equity of 13.06%. The business had revenue of $939.40 million during the quarter, compared to analyst estimates of $849.95 million. During the same quarter last year, the business earned $1.78 EPS. The firm's quarterly revenue was up 2.9% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS.

NewJersey Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th will be given a dividend of $0.475 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.90 annualized dividend and a dividend yield of 3.4%. NewJersey Resources's dividend payout ratio (DPR) is 58.82%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Williams Trading set a $55.00 price objective on shares of NewJersey Resources in a research report on Tuesday, February 3rd. Weiss Ratings raised shares of NewJersey Resources from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, February 13th. Mizuho upped their price objective on shares of NewJersey Resources from $54.00 to $61.00 and gave the company an "outperform" rating in a report on Tuesday, April 21st. Raymond James Financial restated an "outperform" rating on shares of NewJersey Resources in a report on Tuesday, February 3rd. Finally, Argus upgraded NewJersey Resources to a "strong-buy" rating in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, NewJersey Resources presently has a consensus rating of "Buy" and a consensus target price of $54.50.

Insiders Place Their Bets

In other NewJersey Resources news, SVP Richard Reich sold 5,449 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $52.99, for a total value of $288,742.51. Following the completion of the transaction, the senior vice president owned 26,975 shares in the company, valued at approximately $1,429,405.25. This represents a 16.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Roberto Bel sold 6,105 shares of the firm's stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $55.10, for a total value of $336,385.50. Following the completion of the transaction, the chief financial officer directly owned 19,780 shares in the company, valued at $1,089,878. The trade was a 23.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Root Financial Partners LLC raised its position in shares of NewJersey Resources by 56.5% in the 1st quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider's stock worth $29,000 after acquiring an additional 190 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of NewJersey Resources in the 3rd quarter worth $28,000. Bessemer Group Inc. raised its position in shares of NewJersey Resources by 60.1% in the 3rd quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider's stock worth $29,000 after acquiring an additional 230 shares in the last quarter. Torren Management LLC bought a new position in shares of NewJersey Resources in the 4th quarter worth $35,000. Finally, CENTRAL TRUST Co increased its position in NewJersey Resources by 172.7% during the 1st quarter. CENTRAL TRUST Co now owns 818 shares of the utilities provider's stock valued at $45,000 after buying an additional 518 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

NewJersey Resources Stock Down 0.1%

The company has a 50-day moving average of $55.01 and a 200-day moving average of $50.14. The company has a market capitalization of $5.65 billion, a price-to-earnings ratio of 17.34 and a beta of 0.51. The company has a current ratio of 0.83, a quick ratio of 0.58 and a debt-to-equity ratio of 1.32.

NewJersey Resources Company Profile

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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