Argus Raises Price Target on New Jersey Resources (NJR) After Strong Q2 Earnings Beat

New Jersey Resources Corporation (NYSE: NJR ) ranks among the top hydrogen stocks to buy now . On May 20, Argus upgraded the price target for New Jersey Resources Corporation (NYSE:NJR) to $63 from $58 while maintaining a Buy rating on the company’s shares following its fiscal second-quarter 2026 earnings, which exceeded forecasts.

New Jersey Resources Corporation (NYSE:NJR) reported net financial earnings per share of $2.20 for the quarter, rising 24% from $1.78 in the same period the previous year. The results came in far above analyst forecasts, with the company’s Energy Services sector taking advantage of unpredictable winter market circumstances.

Overall, the Energy Services segment had the best performance, providing $37.0 million in Q2 NFE and $45.4 million year-to-date, thanks to natural gas price swings and the company’s long-option positioning approach. Clean Energy Ventures, on the other hand, recorded a $1.3 million loss in the second quarter and $39.8 million year-to-date, indicating the onset of project development and construction operations.

New Jersey Resources Corporation (NYSE:NJR) is a holding company. It provides regulated natural gas distribution, transmission, and storage services, as well as certain unregulated enterprises. It operates across five segments: natural gas distribution, clean energy ventures, energy services, storage and transportation, and home services and other services.

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