Mizuho Forecasts Strong Price Appreciation for NewJersey Resources (NYSE:NJR) Stock

NewJersey Resources (NYSE:NJR) had its price objective upped by analysts at Mizuho from $54.00 to $61.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the utilities provider’s stock. Mizuho’s price target would indicate a potential upside of 9.42% from the company’s current price.

NJR has been the topic of several other research reports. Raymond James Financial reissued an “outperform” rating on shares of NewJersey Resources in a research note on Tuesday, February 3rd. Weiss Ratings upgraded NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 13th. Williams Trading set a $55.00 target price on shares of NewJersey Resources in a report on Tuesday, February 3rd. Wall Street Zen raised shares of NewJersey Resources from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Argus raised NewJersey Resources to a “strong-buy” rating in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $54.50.

NewJersey Resources Stock Up 0.3%

Shares of NewJersey Resources stock opened at $55.75 on Tuesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.58 and a current ratio of 0.83. NewJersey Resources has a 52-week low of $43.46 and a 52-week high of $57.70. The company’s 50 day moving average price is $54.63 and its 200-day moving average price is $49.60. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 17.26 and a beta of 0.55.

NewJersey Resources (NYSE:NJR) last issued its quarterly earnings results on Monday, February 2nd. The utilities provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.22. The company had revenue of $604.85 million for the quarter, compared to analysts’ expectations of $546.90 million. NewJersey Resources had a return on equity of 13.06% and a net margin of 15.18%.The firm’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.29 earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.280-3.43 EPS. Equities research analysts forecast that NewJersey Resources will post 3.31 EPS for the current year.

Insider Activity at NewJersey Resources

In other news, CFO Roberto Bel sold 6,105 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $55.10, for a total transaction of $336,385.50. Following the transaction, the chief financial officer directly owned 19,780 shares of the company’s stock, valued at $1,089,878. This represents a 23.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Richard Reich sold 5,449 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $52.99, for a total value of $288,742.51. Following the completion of the transaction, the senior vice president directly owned 26,975 shares in the company, valued at $1,429,405.25. The trade was a 16.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.70% of the stock is owned by insiders.

Institutional Trading of NewJersey Resources

Hedge funds have recently bought and sold shares of the stock. Measured Wealth Private Client Group LLC purchased a new position in shares of NewJersey Resources during the 3rd quarter valued at about $28,000. Bessemer Group Inc. increased its holdings in NewJersey Resources by 60.1% in the 3rd quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 230 shares in the last quarter. Tradewinds Capital Management LLC bought a new stake in NewJersey Resources during the 3rd quarter worth approximately $30,000. Torren Management LLC purchased a new position in NewJersey Resources during the fourth quarter valued at approximately $35,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of NewJersey Resources by 118.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 933 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 505 shares during the period. Institutional investors own 70.98% of the company’s stock.

About NewJersey Resources

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.