Mizuho Securities analyst Gabe Moreen maintained a Hold rating on New Jersey Resources (NJR – Research Report) on August 3 and set a price target of $49.00. The company’s shares closed yesterday at $44.34.
Moreen covers the Energy sector, focusing on stocks such as Enterprise Products Partners, Kinder Morgan, and Magellan Midstream. According to TipRanks, Moreen has an average return of 7.8% and a 73.15% success rate on recommended stocks.
New Jersey Resources has an analyst consensus of Moderate Sell, with a price target consensus of $48.00, implying an 8.25% upside from current levels. In a report released on August 4, Wells Fargo also maintained a Hold rating on the stock with a $47.00 price target.
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The company has a one-year high of $55.39 and a one-year low of $37.19. Currently, New Jersey Resources has an average volume of 674.1K.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NJR in relation to earlier this year.
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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