8 Best Hydrogen and Fuel Cell Stocks to Buy for 2026

6. New Jersey Resources Corporation (NYSE:NJR)

Analyst Upside: 16.18%

Number of Hedge Fund Holders: 32

New Jersey Resources Corporation (NYSE:NJR) ranks among the best hydrogen and fuel cell stocks to buy for 2026. On December 17, Mizuho upgraded New Jersey Resources Corporation (NYSE:NJR) from Neutral to Outperform, lifting its price target to $54 from $51. The rating increase is based on attractive valuation and solid fundamentals, with Mizuho stating that NJR trades at a 23% discount compared to its local distribution peer group based on 2028 consensus expectations.

Mizuho claims New Jersey Resources Corporation (NYSE:NJR) is largely protected from regulatory issues that affect other in-state power companies, which are under scrutiny for affordability. The firm noted positive growth outlooks for NJR’s S&T and CEV divisions in its fiscal fourth-quarter 2025 results, with the CEV division likely benefiting from in-state generation requirements.

New Jersey Resources Corporation (NYSE:NJR) announced mixed financial results for the fiscal fourth quarter of 2025. The company posted earnings per share of $0.16, which was lower than the expected $0.19, resulting in a 15.79% negative surprise. Despite this, New Jersey Resources Corporation (NYSE:NJR) exceeded projected revenues, posting $336.08 million instead of the expected $307.19 million.

A diversified energy holding company, New Jersey Resources Corporation (NYSE:NJR) provides regulated natural gas distribution, transmission, and storage services alongside unregulated clean energy operations.