Mizuho's Bullish Turn on NJR Signals Market Confidence Shift

On December 17, 2025, Mizuho financial analysts made a notable move by elevating New Jersey Resources (NYSE:NJR) from a Neutral stance to Outperform rating. This shift reflects growing confidence in the utility company’s near-term performance trajectory.

What the Numbers Tell Us

The revised analyst consensus on NJR paints an optimistic picture. As of early December, the collective one-year price target stands at $56.51 per share—representing a potential 22.02% upside from the latest closing price of $46.31. Individual forecasts span from a conservative $51.51 to an ambitious $64.05, suggesting meaningful divergence in analyst expectations but overall bullish sentiment.

Beyond valuation metrics, NJR’s operational outlook demonstrates solid expansion. Projected annual revenues are expected to reach 2,817 million, marking a robust 38.33% year-over-year increase. The anticipated non-GAAP EPS of 3.07 further supports the growth narrative underpinning Mizuho’s upgrade decision.

Institutional Positioning Reflects Mixed Signals

The institutional landscape for NJR reveals nuanced positioning. Currently, 786 funds and institutions maintain reported positions in the company. While this represents a slight decrease of 0.25% in the prior quarter, the average portfolio weight across dedicated funds stands at 0.13%—up 8.80% from previous levels.

Interestingly, total institutional share ownership declined by 1.51% to 96,938 thousand shares over the three-month period. However, the put/call ratio of 0.28 continues to signal underlying bullish market sentiment despite this reduction in aggregate holdings.

How Major Shareholders Are Maneuvering

Several significant stakeholders have adjusted their NJR positions recently:

ETF and Index Fund Activity: The iShares Core S&P Mid-Cap ETF (IJH) maintains 3,270 thousand shares (3.25% ownership), though it trimmed its portfolio allocation by 13.89%. Similarly, Vanguard’s Total Stock Market Index Fund holds 3,231 thousand shares (3.21% stake), representing a 0.53% increase in shares but a 18.06% reduction in portfolio weighting.

Active Investors and Specialists: Wells Fargo increased its shareholding to 2,732 thousand shares (2.71% ownership), yet paradoxically cut its portfolio allocation dramatically by 65.65%. Geode Capital Management holds 2,619 thousand shares (2.60% ownership) with a modest 0.60% increase in allocation weighting. The iShares Russell 2000 ETF (IWM) reduced holdings from 2,679 to 2,511 thousand shares (2.49% ownership), decreasing its portfolio allocation by 13.55%.

These varied moves suggest that while some institutions see tactical value in NJR, others are taking profits or rebalancing exposure—a common pattern when stocks attract upgraded analyst ratings.

Data sourced from comprehensive financial research platforms tracking analyst consensus, institutional positioning, and market sentiment. Individual investors should conduct their own due diligence before making investment decisions.