New Jersey Resources 株価情報 (NYSE: NJR)

最新ニュース New Jersey Resources (NYSE:NJR) 株価情報

New Jersey Resources

New Jersey Resources is an energy services holding company with regulated and nonregulated operations. Its regulated utility, New Jersey Natural Gas, delivers natural gas to nearly 600,000 customers in the state. NJR's nonregulated businesses include solar investments primarily in New Jersey and investments in several large midstream natural gas projects.

NewJersey Resources Corporation Common Stock

New Jersey Resources Corp

Wells Fargo analyst Sarah Akers maintains New Jersey Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NJR#NYSE">NJR</a>) with a Equal-Weight and raises the price target from $51 to $54.

News

Price Target

Analyst Ratings

Wells Fargo Maintains Equal-Weight on New Jersey Resources, Raises Price Target to $54

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>BMO Capital raised the price target for Autodesk, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) from $287 to $308. BMO Capital analyst Daniel Jester maintained a Market Perform rating. Autodesk shares closed at $317.96 on Tuesday. <a href="https://www.benzinga.com/quote/ADSK/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird cut the price target for Kohl&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSS#NYSE">KSS</a>) from $25 to $18. Baird analyst Mark Altschwager downgraded the stock from Outperform to Neutral. Kohl&#8217;s shares closed at $15.22 on Tuesday. <a href="https://www.benzinga.com/quote/KSS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Canaccord Genuity boosted Iris Energy Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IREN#NASDAQ">IREN</a>) price target from $15 to $17. Canaccord Genuity analyst Joseph Vafi maintained a Buy rating. Iris Energy shares settled at $9.56 on Tuesday. <a href="https://www.benzinga.com/quote/IEN/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Telsey Advisory Group boosted The Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) price target from $62 to $85. Telsey Advisory Group analyst Joseph Feldman maintained an Outperform rating. Kroger shares closed at $60.57 on Tuesday. <a href="https://www.benzinga.com/quote/KR/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Guggenheim raised New Jersey Resources Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NJR#NYSE">NJR</a>) price target from $46 to $49. Guggenheim analyst Shahriar Pourreza maintained a Neutral rating. New Jersey Resources shares closed at $50.71 on Tuesday.  <a href="https://www.benzinga.com/quote/NJR/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Northland Capital Markets boosted MoneyLion Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ML#NYSE">ML</a>) price target from $80 to $100. Northland Capital Markets analyst Mike Grondahl maintained an Outperform rating on the stock. MoneyLion shares closed at $86.64 on Tuesday. See how other analysts view this stock.</li>
<li>Benchmark cut the price target for H World Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTHT#NASDAQ">HTHT</a>) from $53 to $48. Benchmark analyst Fawne Jiang maintained a Buy rating. H World shares settled at $33.10 on Tuesday. <a href="https://www.benzinga.com/quote/HTHT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Citigroup boosted Urban Outfitters, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/URBN#NASDAQ">URBN</a>) price target from $42 to $59. Citigroup analyst Paul Lejuez upgraded the stock from Neutral to Buy. Urban Outfitters shares closed at $40.14 on Tuesday. <a href="https://www.benzinga.com/quote/URBN/analyst-ratings">See how other analysts view this stock</a>.</li>
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<li>Needham boosted Nutanix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>) price target from $80 to $90. Needham analyst Mike Cikos maintained a Buy rating. Nutanix shares closed at $72.35 on Tuesday. <a href="https://www.benzinga.com/quote/NTNX/analyst-ratings">See how other analysts view this stock</a>.</li>
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Guggenheim analyst Shahriar Pourreza maintains New Jersey Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NJR#NYSE">NJR</a>) with a Neutral and raises the price target from $46 to $49.

Guggenheim Maintains Neutral on New Jersey Resources, Raises Price Target to $49

Guidance

New Jersey Resources Sees FY 2025 Adj. EPS $3.05-$3.20 Vs $2.89 Estimate

New Jersey Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NJR#NYSE">NJR</a>) just disclosed its Q4 earnings on Monday, November 25, 2024 at 04:30 PM.
Here's a brief overview of the earnings report.
<h3>Earnings</h3>
New Jersey Resources beat estimated earnings by 1.0%, reporting an EPS of $0.89 versus an estimate of $0.88.
Revenue was up $64.45 million from the same period last year.
<h3>Performance in Previous Earnings</h3>
During the previous quarter, the company missed on EPS by $0.08, leading to a 2.0% increase share price change the next day.
Here's a look at New Jersey Resources's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>-0.01</td>
<td>1.32</td>
<td>0.75</td>
<td>0.32</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>-0.09</td>
<td>1.41</td>
<td>0.74</td>
<td>0.30</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>283.00M</td>
<td>670.00M</td>
<td>662.00M</td>
<td>760.00M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>275.64M</td>
<td>657.91M</td>
<td>467.21M</td>
<td>331.32M</td>
</tr>
</tbody>
</table>

To track all earnings releases for New Jersey Resources <a href="https://www.benzinga.com/quote/NJR/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

Recap: New Jersey Resources Q4 Earnings

New Jersey Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NJR#NYSE">NJR</a>) reported quarterly earnings of $0.89 per share which beat the analyst consensus estimate of $0.88 by 1.14 percent. The company reported quarterly sales of $395.780 million which missed the analyst consensus estimate of $407.000 million by 2.76 percent. This is a 19.45 percent increase over sales of $331.325 million the same period last year.

Earnings Beats

Earnings Misses

New Jersey Resources Q4 2024 Adj. EPS $0.89 Beats $0.88 Estimate, Sales $395.780M Miss $407.000M Estimate

Asset Sales

Spruce Power Holding Corporation Class A Common Stock

SPRU

NJR Clean Energy Ventures Announces The Sale Of Its Residential Solar Portfolio To Spruce Power Holding For $132.5M

<h3>Companies Reporting Before The Bell</h3>
• Alarum Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAR#NASDAQ">ALAR</a>) is likely to report quarterly earnings at $0.04 per share on revenue of $7.00 million. 
• BioLine Rx (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLRX#NASDAQ">BLRX</a>) is expected to report quarterly loss at $0.10 per share on revenue of $4.12 million. 
• Uxin (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UXIN#NASDAQ">UXIN</a>) is estimated to report earnings for its second quarter. 
• Super Hi International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HDL#NASDAQ">HDL</a>) is expected to report quarterly earnings at $0.21 per share on revenue of $227.49 million. 
• Diana Shipping (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DSX#NYSE">DSX</a>) is estimated to report quarterly earnings at $0.09 per share on revenue of $68.00 million. 
• Bath &amp; Body Works (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>) is expected to report quarterly earnings at $0.47 per share on revenue of $1.58 billion. 
• Freightos (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRGO#NASDAQ">CRGO</a>) is expected to report quarterly loss at $0.16 per share on revenue of $5.95 million. 
<h3>Companies Reporting After The Bell</h3>
• BBB Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TBBB#NYSE">TBBB</a>) is estimated to report quarterly earnings at $0.03 per share on revenue of $776.51 million. 
• Agilent Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/A#NYSE">A</a>) is estimated to report quarterly earnings at $1.40 per share on revenue of $1.67 billion. 
• Central Garden &amp; Pet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CENTA#NASDAQ">CENTA</a>) is likely to report quarterly loss at $0.22 per share on revenue of $706.77 million. 
• Central Garden &amp; Pet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CENT#NASDAQ">CENT</a>) is projected to report quarterly loss at $0.20 per share on revenue of $707.30 million. 
• LexinFintech Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LX#NASDAQ">LX</a>) is estimated to report earnings for its third quarter. 
• Hesai Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSAI#NASDAQ">HSAI</a>) is projected to report quarterly loss at $0.02 per share on revenue of $69.82 million. 
• Leslies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LESL#NASDAQ">LESL</a>) is projected to report quarterly earnings at $0.11 per share on revenue of $404.09 million. 
• Semtech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMTC#NASDAQ">SMTC</a>) is estimated to report quarterly earnings at $0.23 per share on revenue of $232.90 million. 
• Agora (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/API#NASDAQ">API</a>) is estimated to report quarterly loss at $0.04 per share on revenue of $40.00 million. 
• Fluence Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLNC#NASDAQ">FLNC</a>) is estimated to report quarterly earnings at $0.30 per share on revenue of $1.31 billion. 
• Zoom Video Comms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) is expected to report quarterly earnings at $1.31 per share on revenue of $1.16 billion. 
• Woodward (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>) is likely to report quarterly earnings at $1.25 per share on revenue of $812.95 million. 
• Blue Bird (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLBD#NASDAQ">BLBD</a>) is expected to report quarterly earnings at $0.67 per share on revenue of $324.70 million. 
• Grupo Supervielle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUPV#NYSE">SUPV</a>) is estimated to report quarterly earnings at $0.20 per share on revenue of $199.08 million. 
• New Jersey Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NJR#NYSE">NJR</a>) is projected to report quarterly earnings at $0.88 per share on revenue of $407.00 million. 
• Pennant Park Investment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNNT#NYSE">PNNT</a>) is expected to report quarterly earnings at $0.22 per share on revenue of $36.14 million. 
• PennantPark Floating Rate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFLT#NYSE">PFLT</a>) is projected to report quarterly earnings at $0.32 per share on revenue of $48.95 million. 
• Enanta Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENTA#NASDAQ">ENTA</a>) is likely to report quarterly loss at $1.16 per share on revenue of $17.93 million. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ALAR

BBWI

BLBD

BLRX

CENT

CENTA

CRGO

ENTA

FLNC

HSAI

LESL

PFLT

PNNT

SMTC

SUPV

TBBB

UXIN

Earnings Scheduled For November 25, 2024

New Jersey Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NJR#NYSE">NJR</a>) is gearing up to announce its quarterly earnings on Monday, 2024-11-25. Here's a quick overview of what investors should know before the release.
Analysts are estimating that New Jersey Resources will report an earnings per share (EPS) of $0.88.
The market awaits New Jersey Resources's announcement, with hopes high for news of surpassing estimates and providing upbeat guidance for the next quarter.
It's important for new investors to understand that guidance can be a significant driver of stock prices.
<h3>Performance in Previous Earnings</h3>
In the previous earnings release, the company missed EPS by $0.08, leading to a 2.0% increase in the share price the following trading session.
Here's a look at New Jersey Resources's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>-0.01</td>
<td>1.32</td>
<td>0.75</td>
<td>0.32</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>-0.09</td>
<td>1.41</td>
<td>0.74</td>
<td>0.30</td>
</tr>
<tr>
<td>Price Change %</td>
<td>2.0%</td>
<td>-1.0%</td>
<td>-1.0%</td>
<td>2.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1732287683_0.png" alt="eps graph" />
<h3>Tracking New Jersey Resources's Stock Performance</h3>
Shares of New Jersey Resources were trading at $49.85 as of November 21. Over the last 52-week period, shares are up 18.98%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<h3>Analyst Observations about New Jersey Resources</h3>
Understanding market sentiments and expectations within the industry is crucial for investors. This analysis delves into the latest insights on New Jersey Resources.
A total of 2 analyst ratings have been received for New Jersey Resources, with the consensus rating being Neutral. The average one-year price target stands at $49.0, suggesting a potential 1.71% downside.
<h3>Analyzing Ratings Among Peers</h3>
The analysis below examines the analyst ratings and average 1-year price targets of UGI, ONE Gas and Southwest Gas Hldgs, three significant industry players, providing valuable insights into their relative performance expectations and market positioning.
<ul>
<li>The consensus outlook from analysts is an Neutral trajectory for UGI, with an average 1-year price target of $27.0, indicating a potential 45.84% downside.</li>
<li>As per analysts' assessments, ONE Gas is favoring an Outperform trajectory, with an average 1-year price target of $78.0, suggesting a potential 56.47% upside.</li>
<li>Southwest Gas Hldgs received a Neutral consensus from analysts, with an average 1-year price target of $78.0, implying a potential 56.47% upside.</li>
</ul>
<h3>Insights: Peer Analysis</h3>
The peer analysis summary presents essential metrics for UGI, ONE Gas and Southwest Gas Hldgs, unveiling their respective standings within the industry and providing valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>New Jersey Resources</td>
<td>Neutral</td>
<td>4.38%</td>
<td>$55.19M</td>
<td>-0.54%</td>
</tr>
<tr>
<td>UGI</td>
<td>Neutral</td>
<td>-16.82%</td>
<td>$741M</td>
<td>-1.03%</td>
</tr>
<tr>
<td>ONE Gas</td>
<td>Outperform</td>
<td>1.36%</td>
<td>$150.02M</td>
<td>0.68%</td>
</tr>
<tr>
<td>Southwest Gas Hldgs</td>
<td>Neutral</td>
<td>-7.72%</td>
<td>$191.13M</td>
<td>0.01%</td>
</tr>
</tbody>
</table>

Key Takeaway:
New Jersey Resources ranks in the middle among its peers for revenue growth. It is at the bottom for gross profit and return on equity.
<h3>Unveiling the Story Behind New Jersey Resources</h3>
New Jersey Resources is an energy services holding company with regulated and nonregulated operations. Its regulated utility, New Jersey Natural Gas, delivers natural gas to nearly 600,000 customers in the state. NJR's nonregulated businesses include solar investments primarily in New Jersey and investments in several large midstream natural gas projects.
<h3>Understanding the Numbers: New Jersey Resources's Finances</h3>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: New Jersey Resources's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 4.38%. This indicates a substantial increase in the company's top-line earnings. When compared to others in the Utilities sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: New Jersey Resources's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of -4.2%, the company may face hurdles in effective cost management.
Return on Equity (ROE): New Jersey Resources's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive -0.54% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): New Jersey Resources's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of -0.17%, the company showcases efficient use of assets and strong financial health.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 1.59, caution is advised due to increased financial risk.
<a href="https://www.benzinga.com/quote/NJR/earnings">To track all earnings releases for New Jersey Resources visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

New Jersey Resources's Earnings: A Preview

Energy-efficiency solutions include innovative technologies and enhanced opportunities for residential and commercial customers to achieve emissions reduction.

New Jersey Natural Gas Receives Approval From New Jersey Board Of Public Utilities For Next Generation Of Its SAVEGREEN Program

Primo Water (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/prmw#NYSE">PRMW</a>) announced that its board of directors has approved a special dividend of 82 cents, which reflects an increase of 811% from its quarterly dividend rate of 9 cents. It will be payable on Nov. 21, 2024, to stockholders of record as of Nov. 5, 2024.
<h2>Rationale Behind PRMW&#39;s Special Dividend</h2>
The special dividend came after Primo Water announced the receipt of regulatory approval under the Investment Canada Act in connection with the previously announced all-stock combination of Primo Water and BlueTriton, Inc. The transaction is expected to be closed by the end of 2024.
According to Primo Water, the combination of Primo Water and BlueTriton and their extensive brand and product portfolios should better position the companies to meet their customers&#39; demands and provide quality customer service.
<h2>Can PRMW Continue to Increase Shareholders&#39; Value?</h2>
The company continues to benefit from organic customer growth and strategic investment plans. The increasing water demand should also boost the company&#39;s performance. The second-quarter 2024 revenues increased 7.6% year over year. Organic growth contributed 6.6% to the top line.
Primo Water is still performing well on the basis of its precise and targeted plan. Consequently, the company is achieving balanced and broad-based rapid top-line growth. Strong profit growth can be attributed to its productivity and growth initiatives, which also enable margin improvement.
Since the beginning of this year, the company has embraced a new strategy that includes a focus on customer-centric initiatives, must-win priorities, and a commercial and growth mindset leveraging its portfolio of hydration solutions.
PRMW is continuously investing in improving its infrastructure. Between 2021 and 2023, the company invested nearly $437.6 million, and it aims to invest $154.1 million in 2024.
Primo Water has the potential to expand and improve even further, which suggests that management will have sufficient funds to continue with its shareholder-friendly initiatives in the future.
<h2>Utilities&#39; Legacy of Dividend Payment</h2>
Utility service companies often have steady operations and earnings. Due to their capacity to create cash flows, manage returns and perform consistently, utilities can pay dividends to shareholders on a regular basis.
In the past few months, IDACORP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ida#NYSE">IDA</a>), New Jersey Resources (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/njr#NYSE">NJR</a>) and American States Water (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/awr#NYSE">AWR</a>) have raised their quarterly dividend rate by 3.6%, 7.1% and 8.3%, respectively.
The Zacks Consensus Estimate for IDACORP&#39;s 2024 earnings is pegged at $5.39 per share, implying a year-over-year increase of 4.9%. IDA&#39;s current dividend yield is 3.2%.
The Zacks Consensus Estimate for New Jersey Resources&#39; fiscal 2024 earnings is pegged at $2.95 per share, implying a year-over-year increase of 10.1%. NJR&#39;s current dividend yield is 3.86%.
The Zacks Consensus Estimate for American States Water&#39;s 2024 earnings is pegged at $3.03 per share, implying a year-over-year increase of 6.3%. AWR&#39;s current dividend yield is 2.17%.
<h2>PRMW&#39;s Stock Price Performance</h2>
In the past three months, PRMW&#39;s shares have risen 28.6% compared with the industry&#39;s growth of 1.2%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/4e/81388.jpg?v=1905358745" />
Image Source: Zacks Investment Research
<h2>PRMW&#39;s Zacks Rank</h2>
The company currently carries a Zacks Rank #5 (Strong Sell).
<a href="https://www.zacks.com/stock/news/2351617/primo-water-declares-special-dividend-in-connection-with-merger-deal?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2351617">To read this article on Zacks.com click here.</a>

Mid Cap

Dividends

Management

PRMW

Primo Water Declares Special Dividend in Connection With Merger Deal

Wells Fargo analyst Sarah Akers maintains New Jersey Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NJR#NYSE">NJR</a>) with a Equal-Weight and raises the price target from $47 to $51.

Wells Fargo Maintains Equal-Weight on New Jersey Resources, Raises Price Target to $51

Mizuho analyst Gabriel Moreen maintains New Jersey Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NJR#NYSE">NJR</a>) with a Neutral and raises the price target from $45 to $47.

Mizuho Maintains Neutral on New Jersey Resources, Raises Price Target to $47

JP Morgan analyst Richard Sunderland maintains New Jersey Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NJR#NYSE">NJR</a>) with a Neutral and raises the price target from $48 to $49.

JP Morgan Maintains Neutral on New Jersey Resources, Raises Price Target to $49

New Jersey Resources Affirms FY2024 Adj EPS Guidance $2.85-$3.00 vs $2.94 Est

New Jersey Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NJR#NYSE">NJR</a>) reported quarterly losses of $(0.09) per share which missed the analyst consensus estimate of $(0.02) by 350 percent. The company reported quarterly sales of $275.636 million which missed the analyst consensus estimate of $284.000 million by 2.95 percent. This is a 4.38 percent increase over sales of $264.075 million the same period last year.

New Jersey Resources Q3 2024 Adj. EPS $(0.09) Misses $(0.02) Estimate, Sales $275.636M Miss $284.000M Estimate

Natural gas distribution companies offer services to transport natural gas from the region of production to millions of consumers across the United States. The utilities under the Zacks Utility Gas Distribution industry control miles of underground pipeline network to provide natural gas services to customers. The rising demand for clean, burning natural gas will create more opportunities for natural gas distribution companies.
Atmos Energy Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ato#NYSE">ATO</a>), with its widespread transmission and distribution lines, interstate pipelines, and significant investments in infrastructure development projects, is poised to benefit as natural gas production volumes are expected to increase in 2024-2025. Steady investments and expanding infrastructure in crucial production regions should drive the performance of&nbsp;National Fuel Gas Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nfg#NYSE">NFG</a>) and New Jersey Resources Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/njr#NYSE">NJR</a>).
About The Industry
The shale revolution has substantially increased natural gas production. Its clean-burning nature has steadily boosted the demand for natural gas from all customer groups. Natural gas distribution pipelines are vital in delivering natural gas from intrastate and interstate transmission pipelines to consumers through small-diameter pipelines. United States has 3,353 trillion cubic feet of natural gas and a natural gas pipeline network of 2.6 million miles is utilized to distribute gas to customers. Major concerns for the industry are aging infrastructure and rising investment costs required to upgrade and maintain the vast network of pipelines due to the hike in interest rates. Competition from other clean energy sources can lower the demand for natural gas and, consequently, for pipelines.
Factors Shaping the Future of the Gas Distribution Industry
Production &amp; Export Volumes of Gas to Increase: The short-term energy outlook released by the U.S. Energy Information Administration indicates that domestic dry natural gas production will remain similar to the 2023 levels in 2024 and increase 1.6% year over year to 105.2 billion cubic feet per day (Bcf/d) in 2025. EIA also forecasts gas consumption to increase 0.3% year over year to 89.4 Bcf/d in 2024. Export volumes are expected to increase in 2024 and 2025, providing relief to natural gas transporters. EIA expects U.S. liquefied natural gas&nbsp;export volumes to increase 2% year over year to 12.2 Bcf/d in 2024 and exports to increase 18% to 14.3 Bcf/d in 2025. This indicates the need for more pipelines to send LNG to export terminals.
Fresh Investments Create Opportunities: The clean-burning nature and wide availability of natural gas across the United States are driving demand. At present, 187 million Americans use natural gas. The distribution network will continue to transport natural gas to all parts of the United States. With five new LNG export terminals being developed in the United States, there should be increased demand for natural gas pipeline services to transfer the gas from production areas to these terminals. Per EIA, once completed, the five new LNG projects will increase the combined export capacity by 9.7 Bcf/d by 2025. Per the American Gas Association report, one residential customer signs up for natural gas service every minute and 80 businesses add natural gas service each day. As production and demand for natural gas increase, more pipelines will be required to safely transfer the commodity to end-users. Per the report, natural gas utilities are investing $33 billion each year to increase the reliability of natural gas distribution and transmission systems, indicating the long-term growth potential of this space.
Likely Drop in Interest Rate to Act as a Tailwind: In order to maintain, upgrade and expand operations, utilities approach capital markets for loans. Utilities have been enjoying near-zero interest rates for the past few years. However, multiple rate hikes by the Federal Reserve took the benchmark rate to 5.25-5.50%, which impacted utility operators. However, in its last few meetings, the Fed did not increase the benchmark rate. In the recently concluded Fed meeting, interest rates were unchanged. Fed officials indicated that they would probably reduce the interest rates in September if the positive development continues. The likely drop in interest rates would be a positive for utility operators planning large investments in infrastructure upgrades and the addition of renewable sources of energy to produce electricity.
<a href="https://www.zacks.com/commentary/2308008/3-gas-distribution-stocks-to-buy-from-a-flourishing-industry?cid=CS-BENZ-FT-industry_outlook-2308008">To read this article on Zacks.com click here.</a>

Federal Reserve

3 Gas Distribution Stocks to Buy From a Flourishing Industry

Stephen D Westhoven, President &amp; CEO at New Jersey Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NJR#NYSE">NJR</a>), reported an insider sell on July 16, according to a new SEC filing. 
What Happened: After conducting a thorough analysis, Westhoven sold 30,000 shares of New Jersey Resources. This information was disclosed in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000356309/000035630924000040//Archives/edgar/data/356309/000035630924000040/0000356309-24-000040-index.htm">U.S. Securities and Exchange Commission</a> on Tuesday. The total transaction value is $1,351,545.
Tracking the Wednesday's morning session, New Jersey Resources shares are trading at $45.62, showing a down of 0.0%.
<h3>All You Need to Know About New Jersey Resources</h3>
New Jersey Resources is an energy services holding company with regulated and nonregulated operations. Its regulated utility, New Jersey Natural Gas, delivers natural gas to nearly 600,000 customers in the state. NJR's nonregulated businesses include solar investments primarily in New Jersey and investments in several large midstream natural gas projects.
<h3>Understanding the Numbers: New Jersey Resources's Finances</h3>
Revenue Growth: Over the 3 months period, New Jersey Resources showcased positive performance, achieving a revenue growth rate of 2.16% as of 31 March, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Utilities sector.
Key Profitability Indicators:
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Gross Margin: The company issues a cost efficiency warning with a low gross margin of 36.41%, indicating potential difficulties in maintaining profitability compared to its peers.
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Earnings per Share (EPS): New Jersey Resources's EPS is below the industry average, signaling challenges in bottom-line performance with a current EPS of 1.23.
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</ul>
Debt Management: New Jersey Resources's debt-to-equity ratio is notably higher than the industry average. With a ratio of 1.48, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
Valuation Metrics:
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Price to Earnings (P/E) Ratio: A higher-than-average P/E ratio of 18.1 suggests caution, as the stock may be overvalued in the eyes of investors.
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Price to Sales (P/S) Ratio: With a relatively high Price to Sales ratio of 2.61 as compared to the industry average, the stock might be considered overvalued based on sales performance.
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EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): Boasting an EV/EBITDA ratio of 13.51, New Jersey Resources demonstrates a robust market valuation, outperforming industry benchmarks.
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Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.
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<h3>Navigating the Impact of Insider Transactions on Investments</h3>
Insider transactions shouldn't be used primarily to make an investing decision, however, they can be an important factor for an investor to consider.
In the realm of legality, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities under Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are required to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
Notably, when a company insider makes a new purchase, it is considered an indicator of their positive expectations for the stock.
Conversely, insider sells may not necessarily signal a bearish stance on the stock and can be motivated by various factors.
<h3>Important Transaction Codes</h3>
When it comes to transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> tend to focus on those in the open market, detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S indicates a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000356309">Check Out The Full List Of New Jersey Resources's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Stephen D Westhoven Implements A Sell Strategy: Offloads $1.35M In New Jersey Resources Stock

Atmos Energy Corporation&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ato#NYSE">ATO</a>) continuous capital investments to increase the safety and reliability of its natural gas pipelines help enhance its performance. The company&#39;s expansion into renewable natural gas will boost its performance even further.
Currently, the company carries a Zacks Rank #2 (Buy). Let&#39;s look at the factors that are driving the stock.
<h3>Growth Projections</h3>
The Zacks Consensus Estimate for ATO&#39;s fiscal 2024 and 2025 earnings per share increased 1.82% and 0.99%, respectively, in the last 60 days.
The consensus estimate for 2024 and 2025 sales indicates year-over-year growth of 9.39% and 11.32%, respectively.
The long-term (three to five years) earnings growth of the company is pinned at 7%.
<h3>Surprise History &amp; Dividend Details</h3>
Atmos Energy has a positive earnings surprise history. Its trailing four-quarter earnings surprise is 3.3%, on average.
The company has been rewarding its shareholders through consistent increases in annual dividend rates for 40 consecutive years. It has consistently paid shareholders a cash dividend on its common stock since 1995. The current dividend yield of the company is 2.8%, which is better than the Zacks S&amp;P 500 Composite&#39;s yield of 1.61%.
<h3>Leverage</h3>
Atmos Energy&#39;s debt to capital at the end of second-quarter fiscal 2024 was 39.31%, which compared favorably with its industry average of 44.91%. The reduced leverage signifies that the interest costs are lower and the company is using a smaller percentage of borrowed capital than its peers to run its operation.
<h3>Liquidity</h3>
ATO&#39;s current ratio is 1.36, better than the industry average of 0.69. The current ratio, being greater than one, indicates the company has enough short-term assets to meet its short-term obligations.
<h3>Investments &amp; Customer Additions</h3>
The company plans to invest $3.1 billion during fiscal 2024 and approximately $17 billion till fiscal 2028, majorly to increase its safety and reliability. It aims to replace miles of old transmission and distribution lines over the next five years to make its systems more reliable and reduce methane emissions by 50% by 2035 from the 2017 levels. These investments will help deliver natural gas to consumers safely, improve customers&#39; experience, and provide environmental and operational benefits to the company.
Atmos Energy&#39;s regulated and reliable operations generate a relatively stable and growing income. The company expects strong industrial and commercial customer growth. Commercial customer growth remained solid with more than 2,000 commercial customers connecting to the system during the first half of the fiscal 2024.
<h3>Price Performance</h3>
Shares of Atmos Energy have gained 0.1% in the past month against the industry&#39;s 1.9% decline.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/c2/70322.jpg?v=1815180337" />
Image Source: Zacks Investment Research
<h3>Other Stocks to Consider</h3>
Some other top-ranked stocks in the industry are NewJersey Resources Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/njr#NYSE">NJR</a>), UGI Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ugi#NYSE">UGI</a>), and Fortis Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fts#NYSE">FTS</a>). Each of these stocks currently carries a Zacks Rank of 2.
NewJersey Resources has delivered an average earnings surprise of 107.41% in the last four quarters. The Zacks Consensus Estimate for earnings for fiscal 2024 indicates year-over-year growth of 9.7%.
UGI has delivered an average earnings surprise of 19.13% in the last four quarters. The consensus estimate for earnings for 2024 and 2025 has gone up 0.69% and 0.32%, respectively, in the last 90 days.
Fortis has delivered an average earnings surprise of 4.17% in the last four quarters. The Zacks Consensus Estimate for earnings for 2024 and 2025 indicates year-over-year growth of 2.19% and 2.66%, respectively.
<a href="https://www.zacks.com/stock/news/2296961/reasons-to-add-atmos-energy-ato-to-your-portfolio-now?cid=CS-BENZ-FT-analyst_blog|rank_focused-2296961">To read this article on Zacks.com click here.</a>

Reasons to Add Atmos Energy to Your Portfolio Now

New Jersey Resources (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/njr#NYSE">NJR</a>) continues to benefit from its infrastructure upgrades that help serve its expanding customer base more efficiently. Given its earnings growth opportunities and strong return on equity (ROE), NJR makes for a solid investment option in the utility sector. 
Let&#39;s focus on the factors that make this Zacks Rank #2 (Buy) company a strong investment pick at the moment.
<h3>Growth Projections &amp; Surprise History</h3>
The Zacks Consensus Estimate for fiscal 2024 earnings per share has moved up 1.7% in the past 90 days to $2.94. 
New Jersey Resources delivered an average earnings surprise of 107.4% in the last four quarters.
<h3>Return on Equity</h3>
ROE indicates how efficiently a company has been utilizing the funds to generate higher returns. Currently, New Jersey Resources&#39; ROE is 12.16%, higher than the industry&#39;s average of 9.7%. This indicates that the company has been utilizing the funds more constructively than its peers in the utility gas distribution industry.
<h3>Dividend Growth</h3>
NJR has been increasing shareholders&#39; value by paying dividends. Currently, its quarterly dividend is 42 cents per share, resulting in an annualized dividend of $1.68 per share, up 7.7% from the previous figure of $1.56. The company&#39;s current dividend yield is 3.99%, better than the Zacks S&amp;P 500 composite&#39;s 1.29%.&nbsp;
<h3>Systematic Investments &amp; Customer Growth</h3>
New Jersey Resources makes consistent investments to upgrade and maintain its existing infrastructure. The idea is to provide reliable services to its customers around the clock. The company expects capital investments to be in the range of $619-$754 million and $578-$742 million for fiscal 2024 and fiscal 2025, respectively. 
The company added 4,058 new customers during the first six months of fiscal 2024, compared with 4,064 in the same period of fiscal 2023. It expects these new customers to contribute nearly $3.4 million of incremental utility gross margin on an annualized basis.
<h3>Price Performance</h3>
In the past three months, shares of the company have risen 2% compared with the sector&#39;s 1.4% growth.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/77/68951.jpg?v=1395337783" /> 
Image Source: Zacks Investment Research
<h3>Other Stocks to Consider</h3>
A few other top-ranked stocks from the same industry are Atmos Energy&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ato#NYSE">ATO</a>), MDU Resources (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mdu#NYSE">MDU</a>) and UGI Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ugi#NYSE">UGI</a>), each holding a Zacks Rank #2 at present. 
ATO&#39;s long-term (three to five years) earnings growth rate is 7%. The Zacks Consensus Estimate for ATO&#39;s fiscal 2024 EPS indicates year-over-year growth of 10.2%. 
MDU&#39;s long-term earnings growth rate is 6%. The Zacks Consensus Estimate for MDU&#39;s 2024 EPS indicates a year-over-year increase of 3.3%. 
The Zacks Consensus Estimate for UGI&#39;s fiscal 2024 EPS indicates a year-over-year improvement of 2.8%. The company delivered an average earnings surprise of 19.1% in the last four quarters.
<a href="https://www.zacks.com/stock/news/2288953/reasons-to-add-new-jersey-resources-njr-to-your-portfolio-now?cid=CS-BENZ-FT-analyst_blog|rank_focused-2288953">To read this article on Zacks.com click here.</a>

Reasons to Add New Jersey Resources to Your Portfolio Now

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