J.P. Morgan analyst Richard Sunderland maintained a Sell rating on New Jersey Resources (NJR – Research Report) yesterday and set a price target of $45.00. The company’s shares closed yesterday at $52.77.
According to TipRanks, Sunderland is a 2-star analyst with an average return of 1.1% and a 43.33% success rate. Sunderland covers the Utilities sector, focusing on stocks such as American Water, Atmos Energy, and New Jersey Resources.
The word on The Street in general, suggests a Moderate Sell analyst consensus rating for New Jersey Resources with a $49.33 average price target.
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NJR market cap is currently $5.1B and has a P/E ratio of 18.23.
Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NJR in relation to earlier this year. Most recently, in January 2023, Sharon Taylor, a Director at NJR bought 2,941.00 shares for a total of $145,814.78.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
New Jersey Resources Corp. is a holding company. The firm provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. It operates through the following segments: New Jersey Natural Gas, NJR Clean Energy Ventures, NJR Energy Services, NJR Midstream, and NJR Home Services. The New Jersey Natural Gas segment provides regulated retail natural gas service to residential and commercial customers in central and northern New Jersey. The NJR Clean Energy Ventures segment invests in, owns and operates solar projects. The NJR Energy Services segment manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services in the U.S. and Canada. The NJR Midstream segment serves customers from local distributors and producers to electric generators and wholesale marketers. The NJR Home Services segment provides heating, ventilation and cooling service, sales and installation of appliances services to its customers, as well as solar installation projects, and is the primary contributor to home services. The company was founded in 1981 and is headquartered in Wall, NJ.
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