10 Best Hydrogen Stocks to Buy According to Billionaires

4. New Jersey Resources Corporation (NYSE:NJR)

Number of Billionaires: 9

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.

In November 2024, the company announced a significant move through its clean energy subsidiary, NJR Clean Energy Ventures (CEV), which sold a 91 MW residential solar portfolio to Spruce Power Holding Corp. for $132.5 million. New Jersey Resources Corporation (NYSE:NJR) expects to record a gain from this sale in the fiscal year 2025, with proceeds directed toward reducing corporate debt and supporting general operations. This strategic divestment underscores NJR’s long-term focus on optimizing capital while remaining committed to renewable energy as a growth driver. President and CEO Steve Westhoven reaffirmed clean energy’s vital role in NJR’s future.

New Jersey Resources Corporation (NYSE:NJR) reported $1.78 billion in revenue over the past year and $491 million in Q1, reflecting a 23.5% quarter-over-quarter increase despite a 7.5% year-over-year decline.

Institutional ownership remains high at over 76%, signaling strong investor confidence. Analyst sentiment is cautious for New Jersey Resources Corporation (NYSE:NJR) but stable, with 33% rating the stock a “Buy” and 67% recommending “Hold.” As the company sharpens its focus on strategic asset management and clean energy investments, it remains one of the best hydrogen stocks to watch in the North American utility space.