NewJersey Resources (NYSE:NJR) Sees Strong Trading Volume - Still a Buy?

Key Points

• Analysts remain generally bullish: NewJersey Resources has a consensus “Buy” rating and an average price target of $61.50, compared with its latest price of $50.58.
• The company exceeded quarterly expectations, reporting $0.11 EPS versus a $0.06 estimate and $349.18 million in revenue, up 16.8% year over year. Fiscal 2026 EPS guidance is $3.52–$3.62.
• NewJersey Resources raised its quarterly dividend to $0.50 per share, implying an annualized payout of $2.00 and a 4.0% yield; institutional investors own approximately 71% of the stock.

Shares of NewJersey Resources Corporation (NYSE:NJR - Get Free Report) saw unusually-strong trading volume on Friday. Approximately 566,286 shares traded hands during trading, a decline of 7% from the previous session's volume of 606,154 shares. The stock last traded at $50.58 and had previously closed at $51.06.

Analyst Ratings Changes

A number of equities analysts have commented on NJR shares. JPMorgan Chase & Co. dropped their price objective on shares of NewJersey Resources from $64.00 to $63.00 and set an "overweight" rating for the company in a research note on Friday, September 11th. Huntington assumed coverage on shares of NewJersey Resources in a report on Monday, September 14th. They issued an "outperform" rating and a $68.00 price target for the company. Wall Street Zen upgraded NewJersey Resources from a "sell" rating to a "hold" rating in a research report on Sunday, September 20th. Weiss Ratings cut NewJersey Resources from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. Finally, Wells Fargo & Company downgraded NewJersey Resources from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $63.00 to $61.00 in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, NewJersey Resources presently has a consensus rating of "Buy" and an average target price of $61.50.

NewJersey Resources Trading Down 0.9%

The company's 50 day moving average price is $55.18 and its two-hundred day moving average price is $55.63. The firm has a market cap of $5.13 billion, a PE ratio of 13.97, a P/E/G ratio of 2.94 and a beta of 0.50. The company has a quick ratio of 0.45, a current ratio of 0.66 and a debt-to-equity ratio of 1.21.

NewJersey Resources (NYSE:NJR - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The utilities provider reported $0.11 EPS for the quarter, beating the consensus estimate of $0.06 by $0.05. NewJersey Resources had a net margin of 16.42% and a return on equity of 14.46%. The company had revenue of $349.18 million for the quarter, compared to the consensus estimate of $342.13 million. During the same period in the prior year, the firm posted ($0.15) EPS. The firm's revenue was up 16.8% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. As a group, sell-side analysts forecast that NewJersey Resources Corporation will post 3.59 EPS for the current year.

NewJersey Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 24th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.0%. This is an increase from NewJersey Resources's previous quarterly dividend of $0.4750. NewJersey Resources's dividend payout ratio is 52.49%.

Insider Transactions at NewJersey Resources

In other NewJersey Resources news, COO Patrick Migliaccio sold 3,000 shares of the company's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $55.63, for a total value of $166,890.00. Following the transaction, the chief operating officer owned 32,202 shares of the company's stock, valued at $1,791,397.26. This represents a 8.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in NewJersey Resources by 6.8% during the second quarter. State Street Corp now owns 5,418,885 shares of the utilities provider's stock worth $306,134,000 after buying an additional 343,537 shares during the period. BlackRock Inc. purchased a new position in shares of NewJersey Resources in the 2nd quarter valued at $1,008,340,000. PNC Financial Services Group Inc. raised its position in shares of 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 acquiring an additional 10,666 shares in the last quarter. World Investment Advisors purchased a new stake in shares of NewJersey Resources during the 4th quarter worth $1,924,000. Finally, Norges Bank purchased a new stake in shares of NewJersey Resources during the 4th quarter worth $60,075,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

About NewJersey Resources

New Jersey Resources Corporation NYSE: NJR is an energy services holding company based in Wall, New Jersey. Through its subsidiaries, the company provides regulated natural gas distribution, energy management, wholesale energy services, renewable energy development, and natural gas storage and transportation solutions.

Its principal subsidiary, New Jersey Natural Gas, operates a regulated natural gas utility serving residential, commercial, and industrial customers in central and northern New Jersey.

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