New Jersey Resources Corp: Jefferies cuts target price to $56 from $60

Jefferies has revised its target price for New Jersey Resources Corp (NJR) to $56 from a previous $60, reflecting a cautious outlook on the stock. The company, a holding company engaged in natural gas distribution, transmission, and storage services, operates across multiple segments including Natural Gas Distribution, Clean Energy Ventures, and Energy Services.

As of July 5, 2026, NJR's stock was trading within a 52-week range of $43.46 to $58.57, with a current price-to-earnings ratio of 17.08x and a market capitalization of $5.8 billion. The stock has a dividend yield of 3.38%, offering investors a steady income stream. Recent earnings performance showed strength, with Q2 2026 earnings per share (EPS) of $2.20, surpassing estimates by 15.79%.

Analysts remain bullish on NJR, with all recommendations falling under the "Buy" category. However, the updated target price from Jefferies suggests a recalibration of expectations amid evolving market conditions and operational dynamics. Investors are advised to monitor the company’s upcoming earnings release on August 3, 2026, for further insights into its financial trajectory.