New Jersey Resources (NJR) Stock Forecast, Price & News

3 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for New Jersey Resources in the last twelve months. There are currently 1 sell rating and 2 hold ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" NJR shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in NJR, but not buy additional shares or sell existing shares.
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3 analysts have issued 1 year price targets for New Jersey Resources' shares. Their NJR share price forecasts range from $46.00 to $51.00. On average, they predict the company's share price to reach $48.50 in the next year. This suggests that the stock has a possible downside of 3.8%.
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New Jersey Resources' stock was trading at $49.62 on January 1st, 2023. Since then, NJR shares have increased by 1.6% and is now trading at $50.42.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, August 3rd 2023.
View our NJR earnings forecast.

New Jersey Resources Co. (NYSE:NJR) announced its earnings results on Thursday, May, 4th. The utilities provider reported $1.16 EPS for the quarter, missing analysts' consensus estimates of $1.20 by $0.04. The utilities provider had revenue of $644 million for the quarter, compared to analysts' expectations of $954.32 million. New Jersey Resources had a net margin of 10.94% and a trailing twelve-month return on equity of 14.22%. The business's quarterly revenue was down 29.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.36 earnings per share.

New Jersey Resources declared a quarterly dividend on Wednesday, April 5th. Investors of record on Wednesday, June 14th will be paid a dividend of $0.39 per share on Monday, July 3rd. This represents a $1.56 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Tuesday, June 13th.
Read our dividend analysis for NJR.

ETFs with the largest weight of New Jersey Resources (NYSE:NJR) stock in their portfolio include WBI BullBear Value 3000 ETF (WBIF), SPDR S&P Kensho Clean Power ETF (CNRG), ProShares S&P MidCap 400 Dividend Aristocrats ETF (REGL), Invesco DWA Utilities Momentum ETF (PUI), Tortoise North American Pipeline Fund (TPYP), VictoryShares US Small Cap High Div Volatility Wtd ETF (CSB), Opus Small Cap Value Plus ETF (OSCV) and Invesco S&P MidCap Low Volatility ETF (XMLV).

New Jersey Resources (NYSE:NJR) pays an annual dividend of $1.56 per share and currently has a dividend yield of 3.15%. The company has been increasing its dividend for 27 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 51.66%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, NJR will have a dividend payout ratio of 56.73% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for NJR.

New Jersey Resources shares split before market open on Wednesday, March 4th 2015. The 2-1 split was announced on Wednesday, January 21st 2015. The newly created shares were issued to shareholders after the closing bell on Tuesday, March 3rd 2015. An investor that had 100 shares of stock prior to the split would have 200 shares after the split.

New Jersey Resources updated its FY 2023 earnings guidance on Thursday, May, 4th. The company provided EPS guidance of $2.62-$2.72 for the period, compared to the consensus earnings per share estimate of $2.70. The company issued revenue guidance of -.

10 employees have rated New Jersey Resources Chief Executive Officer Laurence M. Downes on Glassdoor.com. Laurence M. Downes has an approval rating of 100% among the company's employees. This puts Laurence M. Downes in the top 10% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other New Jersey Resources investors own include Energy Transfer (ET), CBL & Associates Properties (CBL), Ford Motor (F), AT&T (T), Cornerstone Total Return Fund (CRF), SandRidge Permian Trust (PER), Cornerstone Strategic Value Fund (CLM), Martin Midstream Partners (MMLP), NGL Energy Partners (NGL) and SunCoke Energy Partners (SXCP).

New Jersey Resources trades on the New York Stock Exchange (NYSE) under the ticker symbol "NJR."

New Jersey Resources' stock is owned by many different retail and institutional investors. Top institutional investors include BlackRock Inc. (16.06%), State Street Corp (10.41%), Dimensional Fund Advisors LP (2.79%), Wellington Management Group LLP (1.96%), Geode Capital Management LLC (1.91%) and Bank of New York Mellon Corp (1.54%). Insiders that own company stock include James H Degraffenreidt Jr, M William Howard Jr, Patrick J Migliaccio, Stephen D Westhoven and Timothy F Shea.
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Shares of NJR stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of NJR stock can currently be purchased for approximately $50.42.

New Jersey Resources (NYSE:NJR) has a market capitalization of $4.89 billion and generates $2.91 billion in revenue each year. The utilities provider earns $274.92 million in net income (profit) each year or $3.02 on an earnings per share basis.

The company employs 1,288 workers across the globe.

New Jersey Resources' mailing address is 1415 Wyckoff Road, WALL TOWNSHIP NJ, 07719. The official website for the company is www.njresources.com. The utilities provider can be reached via phone at (732) 938-1000, via email at dpuma@njresources.com, or via fax at 732-938-3154.