NewJersey Resources (NYSE:NJR) Raised to “Strong-Buy” at Wells Fargo & Company

Posted by Stanley Muller on May 13th, 2026

NewJersey Resources (NYSE:NJR – Get Free Report) was upgraded by equities researchers at Wells Fargo & Company to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

NJR has been the subject of a number of other reports. Argus upgraded NewJersey Resources to a “strong-buy” rating in a research note on Thursday, January 22nd. Wall Street Zen upgraded NewJersey Resources from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Weiss Ratings upgraded NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 13th. Mizuho lifted their target price on NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, April 21st. Finally, Williams Trading set a $55.00 target price on NewJersey Resources in a research note on Tuesday, February 3rd. Two investment analysts have rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $56.17.

View Our Latest Research Report on NewJersey Resources

NewJersey Resources Stock Performance

Shares of NJR stock opened at $56.94 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.94 and a debt-to-equity ratio of 1.24. The business has a 50 day moving average of $55.27 and a two-hundred day moving average of $50.54. NewJersey Resources has a 52 week low of $43.46 and a 52 week high of $57.85. The company has a market cap of $5.75 billion, a P/E ratio of 16.90 and a beta of 0.51.

NewJersey Resources (NYSE:NJR – Get Free Report) last issued its earnings results on Monday, May 4th. The utilities provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.31. NewJersey Resources had a return on equity of 14.58% and a net margin of 15.67%.The company had revenue of $939.40 million during the quarter, compared to the consensus estimate of $849.95 million. During the same period in the previous year, the firm posted $1.78 earnings per share. NewJersey Resources’s quarterly revenue was up 2.9% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. As a group, analysts anticipate that NewJersey Resources will post 3.5 EPS for the current year.

Insider Buying and Selling

In related news, Director Jane M. Kenny sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $56.10, for a total transaction of $448,800.00. Following the sale, the director owned 21,998 shares of the company’s stock, valued at $1,234,087.80. The trade was a 26.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Roberto Bel sold 6,105 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $55.10, for a total value of $336,385.50. Following the sale, the chief financial officer directly owned 19,780 shares in the company, valued at approximately $1,089,878. The trade was a 23.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 19,554 shares of company stock valued at $1,073,928 over the last quarter. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On NewJersey Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NJR. Norges Bank bought a new stake in NewJersey Resources during the fourth quarter worth approximately $60,075,000. Millennium Management LLC raised its holdings in NewJersey Resources by 895.7% during the third quarter. Millennium Management LLC now owns 677,352 shares of the utilities provider’s stock worth $32,614,000 after purchasing an additional 609,323 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in NewJersey Resources by 10.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,934,165 shares of the utilities provider’s stock worth $181,446,000 after purchasing an additional 367,844 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in NewJersey Resources by 77.1% during the second quarter. Qube Research & Technologies Ltd now owns 730,300 shares of the utilities provider’s stock worth $32,732,000 after purchasing an additional 317,932 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC bought a new stake in NewJersey Resources during the third quarter worth approximately $13,351,000. Institutional investors own 70.98% of the company’s stock.

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.