New Jersey Resources - NJR Stock Forecast, Price & News

3 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for New Jersey Resources in the last year. There are currently 1 sell rating and 2 hold ratings for the stock. The consensus among Wall Street 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 Wall Street analysts have issued 12 month target prices for New Jersey Resources' shares. Their NJR share price forecasts range from $40.00 to $51.00. On average, they anticipate the company's stock price to reach $46.75 in the next twelve months. This suggests that the stock has a possible downside of 10.4%.
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New Jersey Resources' stock was trading at $49.62 on January 1st, 2023. Since then, NJR stock has increased by 5.1% and is now trading at $52.17.
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New Jersey Resources saw a increase in short interest during the month of March. As of March 15th, there was short interest totaling 4,210,000 shares, an increase of 18.9% from the February 28th total of 3,540,000 shares. Based on an average trading volume of 491,500 shares, the short-interest ratio is currently 8.6 days. Approximately 4.4% of the company's stock are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, May 4th 2023.
View our NJR earnings forecast.

New Jersey Resources Co. (NYSE:NJR) announced its quarterly earnings data on Thursday, February, 2nd. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.35. The utilities provider earned $723.60 million during the quarter, compared to analysts' expectations of $696.78 million. New Jersey Resources had a net margin of 9.46% and a trailing twelve-month return on equity of 15.62%. The company's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.69 earnings per share.

New Jersey Resources announced a quarterly dividend on Wednesday, January 25th. Shareholders of record on Wednesday, March 15th will be given a dividend of $0.39 per share on Monday, April 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Tuesday, March 14th.
Read our dividend analysis for NJR.

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

New Jersey Resources (NYSE:NJR) pays an annual dividend of $1.56 per share and currently has a dividend yield of 3.03%. 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 53.98%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, NJR will have a dividend payout ratio of 57.99% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for NJR.

Shares of New Jersey Resources split before market open on Wednesday, March 4th 2015. The 2-1 split was announced on Wednesday, January 21st 2015. The newly minted 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 issued an update on its FY 2023 earnings guidance on Sunday, February, 5th. The company provided EPS guidance of $2.62-$2.72 for the period, compared to the consensus earnings per share estimate of $2.49. 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 a number of retail and institutional investors. Top institutional investors include Dimensional Fund Advisors LP (2.82%), Wells Fargo & Company MN (2.69%), Geode Capital Management LLC (1.83%), First Trust Advisors LP (1.59%), Charles Schwab Investment Management Inc. (1.10%) and ProShare Advisors LLC (1.02%). Insiders that own company stock include James H Degraffenreidt Jr, M William Howard Jr, Patrick J Migliaccio and Timothy F Shea.
View institutional ownership trends.

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 $52.17.

New Jersey Resources (NYSE:NJR) has a market capitalization of $5.05 billion and generates $2.91 billion in revenue each year. The utilities provider earns $274.92 million in net income (profit) each year or $2.89 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.