Top Energy and Utility Stocks Wall Street Analysts Are Talking About

8. New Jersey Resources Corporation (NYSE:NJR)

Number of Hedge Fund Holders: 29

New Jersey Resources Corporation (NYSE:NJR) is one of the Top Energy and Utility Stocks Wall Street Analysts Are Talking About. On June 13, Raymond James initiated coverage of the company’s stock with an “Outperform” rating and price objective of $49, as reported by The Fly. The firm remains constructive on New Jersey Resources Corporation (NYSE:NJR)’s capability to differentiate itself from other gas utility players via its well-run core New Jersey Natural Gas utility.

Also, the company has consistently performed well and continues to run a quality financial model, added the firm’s analyst. Despite the larger spending program, the firm believes that New Jersey Resources Corporation (NYSE:NJR)’s financial model has been working incredibly well. The company increased fiscal 2025 net financial EPS (NFEPS) guidance to between $3.15 – $3.30, from the prior range of $3.05 – $3.20. This follows the outperformance of Energy Services during the winter period.

Furthermore, New Jersey Resources Corporation (NYSE:NJR) has maintained a 7% – 9% long-term NFEPS (net financial earnings per share) growth target, on the basis of the target of $2.83 per share for fiscal 2025. During the first 6 months, the capital expenditures came in at $287.1 million, which includes accruals, as compared to $232.6 million during the same period of FY 2024. The rise was mainly because of higher expenditures at NJNG and CEV.