NJR Should I Buy
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New Jersey Resources Corp (NJR) is not a strong buy at the moment for a beginner investor with a long-term strategy. While the stock has positive analyst ratings and hedge fund buying activity, the technical indicators show no clear bullish trend, and recent financial performance reflects a decline in net income and EPS. The lack of strong proprietary trading signals and no significant event-driven catalysts further support a hold recommendation.
The MACD is below 0 and negatively contracting, indicating bearish momentum. RSI is neutral at 64.505, and moving averages are converging, showing no clear trend. The stock is trading near its pivot level of 56.038, with resistance at 56.98 and support at 55.096.
Hedge funds are increasing their buying activity, with a 112.67% increase in the last quarter. Analysts have raised price targets, with Mizuho increasing the target to $61 and JPMorgan to $56, maintaining positive ratings.
The company's financial performance in Q1 2026 shows a decline in net income (-6.72% YoY), EPS (-7.63% YoY), and gross margin (-1.79% YoY). No recent congress trading data or significant insider activity is noted.
In Q1 2026, revenue increased by 23.85% YoY to $604.85 million, but net income dropped by 6.72% YoY to $122.49 million, and EPS declined by 7.63% YoY to 1.21. Gross margin also decreased slightly to 49.44%.
Analysts maintain positive ratings, with Mizuho raising the price target to $61 and JPMorgan to $56. Both firms expect strong performance in the Energy Services segment due to natural gas price volatility.
