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Investing.com - Mizuho raised its price target on New Jersey Resources (NYSE:NJR) to $51.00 from $50.00 on Thursday, while maintaining a Neutral rating on the stock. The utility company, currently valued at $4.66 billion, trades at an attractive P/E ratio of 11.29x and offers a 4.09% dividend yield. According to InvestingPro analysis, the stock appears fairly valued at current levels.
The price target adjustment comes as Mizuho noted that New Jersey Resources’ fiscal year 2025 outlook remains largely in line with management’s expected 7-9% growth CAGR for NFE per share. The company has demonstrated strong financial performance with 21% revenue growth over the last twelve months and maintains an impressive track record of raising dividends for 29 consecutive years. InvestingPro subscribers can access 8 additional key insights about NJR’s growth potential.
The firm characterized NJR’s most recent update as "somewhat mixed," highlighting positive developments including a $22.5 million increase in FY25 CapEx outlook for NJNG related to its SAVEGREEN program, progress on potential S&T expansions at Leaf River, and an agreement in principle regarding the Section 4 rate case at Adelphia Gateway.
Offsetting these positive factors, NJR reduced its FY25 CapEx outlook for its ’CEV’ segment by $20 million, with management commentary suggesting tempered medium-term growth expectations for the segment following OBBBA.
Despite seeing positive momentum in NJR’s non-regulated businesses, Mizuho expects the ’CEV’ segment to "remain a distraction" for the company going forward.
In other recent news, New Jersey Resources Corporation (NJR) reported its third-quarter earnings for 2025, which showed a mixed performance. The company posted earnings per share (EPS) of $0.06, which was below the expected -$0.06, indicating a surprising negative swing. Revenue came in at $298.95 million, slightly missing the anticipated $304.96 million, representing a 1.97% shortfall. Despite these results, the company’s stock price remained steady. These recent developments reflect the company’s current financial standing. Investors are closely watching these figures as they assess NJR’s performance. The earnings report highlights the challenges NJR faces in meeting market expectations. Analysts and investors will likely continue to monitor the company’s future earnings closely.
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