NewJersey Resources (NYSE:NJR) Reaches New 12-Month High – What’s Next?

by · The Markets Daily

NewJersey Resources Corporation (NYSE:NJR – Get Free Report)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $55.07 and last traded at $55.04, with a volume of 244156 shares changing hands. The stock had previously closed at $54.49.

Analysts Set New Price Targets

NJR has been the topic of several analyst reports. New Street Research set a $54.00 price objective on NewJersey Resources in a report on Wednesday, December 17th. 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 raised shares of NewJersey Resources from a “neutral” rating to an “outperform” rating and upped their price target for the company from $51.00 to $54.00 in a report on Wednesday, December 17th. Wall Street Zen raised shares of NewJersey Resources from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Raymond James Financial restated an “outperform” rating on shares of NewJersey Resources in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.00.

Get Our Latest Report on NJR

NewJersey Resources Stock Performance

The company has a market cap of $5.57 billion, a P/E ratio of 17.09 and a beta of 0.57. The company has a quick ratio of 0.58, a current ratio of 0.83 and a debt-to-equity ratio of 1.32. The company has a 50 day moving average price of $49.65 and a 200-day moving average price of $47.62.

NewJersey Resources (NYSE:NJR – Get Free Report) last released its earnings results on Monday, February 2nd. The utilities provider reported $1.17 EPS for the quarter, beating the consensus estimate of $0.95 by $0.22. The firm had revenue of $604.85 million for the quarter, compared to analysts’ expectations of $546.90 million. NewJersey Resources had a net margin of 15.18% and a return on equity of 13.06%. NewJersey Resources’s quarterly revenue was up 23.8% on a year-over-year basis. During the same quarter last year, the company earned $1.29 EPS. NewJersey Resources has set its FY 2026 guidance at 3.280-3.43 EPS. Equities analysts expect that NewJersey Resources Corporation will post 3.15 EPS for the current fiscal year.

NewJersey Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 11th will be paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, March 11th. NewJersey Resources’s dividend payout ratio (DPR) is presently 58.82%.

Insider Buying and Selling

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 4,017 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $46.46, for a total value of $186,629.82. Following the sale, the chief operating officer directly owned 38,065 shares in the company, valued at approximately $1,768,499.90. The trade was a 9.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.70% of the company’s stock.

Institutional Trading of NewJersey Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in NJR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in NewJersey Resources by 6.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,363 shares of the utilities provider’s stock worth $2,912,000 after buying an additional 3,422 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of NewJersey Resources by 65.7% during the 1st quarter. NewEdge Advisors LLC now owns 22,214 shares of the utilities provider’s stock worth $1,090,000 after acquiring an additional 8,808 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of NewJersey Resources by 10.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 320,113 shares of the utilities provider’s stock worth $15,705,000 after acquiring an additional 29,458 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of NewJersey Resources during the first quarter worth $8,907,000. Finally, AlphaQuest LLC lifted its holdings in shares of NewJersey Resources by 112.1% during the second quarter. AlphaQuest LLC now owns 2,229 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 1,178 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

NewJersey Resources Company Profile

(Get Free Report)

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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