NewJersey Resources (NYSE:NJR) Rating Increased to Outperform at Mizuho

NewJersey Resources (NYSE:NJR) was upgraded by analysts at Mizuho from a “neutral” rating to an “outperform” rating in a report issued on Wednesday,Benzinga reports. The firm presently has a $54.00 price objective on the utilities provider’s stock, up from their previous price objective of $51.00. Mizuho’s target price suggests a potential upside of 16.57% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the stock. New Street Research set a $54.00 price target on shares of NewJersey Resources in a research report on Wednesday. Weiss Ratings lowered NewJersey Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, December 10th. Wall Street Zen downgraded shares of NewJersey Resources from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Finally, Raymond James Financial reissued an “outperform” rating and issued a $53.00 target price on shares of NewJersey Resources in a report on Thursday, November 20th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, NewJersey Resources presently has an average rating of “Hold” and an average target price of $52.86.

NewJersey Resources Price Performance

NYSE:NJR opened at $46.32 on Wednesday. NewJersey Resources has a 52 week low of $43.46 and a 52 week high of $50.76. The company has a quick ratio of 0.40, a current ratio of 0.73 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $4.67 billion, a P/E ratio of 13.91 and a beta of 0.61. The stock’s fifty day moving average is $46.09 and its two-hundred day moving average is $46.16.

NewJersey Resources (NYSE:NJR) last released its quarterly earnings results on Wednesday, November 19th. The utilities provider reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The business had revenue of $336.08 million during the quarter, compared to analysts’ expectations of $307.30 million. NewJersey Resources had a return on equity of 13.73% and a net margin of 16.48%.The company’s revenue was down 15.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.89 EPS. NewJersey Resources has set its FY 2026 guidance at 3.030-3.180 EPS. Equities analysts expect that NewJersey Resources will post 3.15 EPS for the current year.

Institutional Investors Weigh In On NewJersey Resources

A number of institutional investors and hedge funds have recently bought and sold shares of NJR. US Bancorp DE raised its position in shares of NewJersey Resources by 7.9% during the 3rd quarter. US Bancorp DE now owns 3,127 shares of the utilities provider’s stock worth $151,000 after purchasing an additional 228 shares during the last quarter. Bessemer Group Inc. grew its holdings in NewJersey Resources by 60.1% during the 3rd quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock valued at $29,000 after buying an additional 230 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in NewJersey Resources by 0.8% during the second quarter. Steward Partners Investment Advisory LLC now owns 31,318 shares of the utilities provider’s stock worth $1,404,000 after buying an additional 236 shares in the last quarter. Horizon Investment Services LLC raised its holdings in shares of NewJersey Resources by 4.7% in the third quarter. Horizon Investment Services LLC now owns 6,057 shares of the utilities provider’s stock worth $292,000 after acquiring an additional 273 shares during the last quarter. Finally, Jacobi Capital Management LLC raised its holdings in shares of NewJersey Resources by 1.0% in the first quarter. Jacobi Capital Management LLC now owns 28,505 shares of the utilities provider’s stock worth $1,398,000 after acquiring an additional 275 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

About NewJersey Resources

New Jersey Resources Corporation, an energy services holding company, distributes natural gas. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Storage and Transportation. The Natural Gas Distribution segment offers regulated natural gas utility services to approximately 576,000 customers in Burlington, Middlesex, Monmouth, Morris, Ocean, and Sussex counties in New Jersey; provides capacity and storage management services; and participates in the off-system sales and capacity release markets.