NewJersey Resources (NYSE:NJR – Get Free Report) issued its quarterly earnings data on Monday. The utilities provider reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04, FiscalAI reports. NewJersey Resources had a net margin of 15.67% and a return on equity of 14.58%. NewJersey Resources updated its FY 2026 guidance to 3.520-3.620 EPS.
NewJersey Resources Price Performance
Shares of NewJersey Resources stock traded up $0.26 on Monday, hitting $58.15. 746,144 shares of the company were exchanged, compared to its average volume of 594,891. NewJersey Resources has a 1-year low of $43.46 and a 1-year high of $60.86. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of 17.26 and a beta of 0.50. 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 company has a 50-day moving average price of $56.80 and a 200 day moving average price of $54.91.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on NJR. Mizuho increased their target price on shares of NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, April 21st. Wells Fargo & Company began coverage on shares of NewJersey Resources in a research note on Tuesday, May 12th. They set an “overweight” rating and a $63.00 price objective for the company. Weiss Ratings raised NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. Finally, Argus set a $63.00 price target on shares of NewJersey Resources in a research report on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $58.17.
Insider Transactions at NewJersey Resources
In related news, Director Jane M. Kenny sold 8,000 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $56.10, for a total value of $448,800.00. Following the completion of the sale, the director owned 21,998 shares of the company’s stock, valued at approximately $1,234,087.80. This represents a 26.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Patrick J. Migliaccio sold 3,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $55.84, for a total transaction of $167,520.00. Following the completion of the sale, the chief operating officer directly owned 35,202 shares of the company’s stock, valued at approximately $1,965,679.68. This trade represents a 7.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,150 shares of company stock worth $682,261 in the last quarter. Company insiders own 0.70% of the company’s stock.
Institutional Trading of NewJersey Resources
Several institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE grew its stake in shares of NewJersey Resources by 7.9% in the third quarter. US Bancorp DE now owns 3,127 shares of the utilities provider’s stock valued at $151,000 after buying an additional 228 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in NewJersey Resources by 2.3% during the 3rd quarter. NewEdge Advisors LLC now owns 13,009 shares of the utilities provider’s stock worth $626,000 after buying an additional 298 shares during the last quarter. Parallel Advisors LLC boosted its holdings in NewJersey Resources by 56.9% in the third quarter. Parallel Advisors LLC now owns 1,001 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 363 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of NewJersey Resources by 118.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 933 shares of the utilities provider’s stock valued at $43,000 after buying an additional 505 shares in the last quarter. Finally, Hilltop Holdings Inc. boosted its stake in NewJersey Resources by 8.8% in the third quarter. Hilltop Holdings Inc. now owns 7,044 shares of the utilities provider’s stock valued at $339,000 after acquiring an additional 570 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.
NewJersey Resources Company Profile
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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