NewJersey Resources Corporation $NJR Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA raised its position in shares of NewJersey Resources Corporation (NYSE:NJR) by 1.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 690,179 shares of the utilities provider’s stock after acquiring an additional 12,335 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in NewJersey Resources were worth $31,831,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in NewJersey Resources by 6.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,363 shares of the utilities provider’s stock valued at $2,912,000 after purchasing an additional 3,422 shares during the last quarter. NewEdge Advisors LLC raised its stake in NewJersey Resources by 65.7% in the 1st quarter. NewEdge Advisors LLC now owns 22,214 shares of the utilities provider’s stock valued at $1,090,000 after purchasing an additional 8,808 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in NewJersey Resources by 10.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 320,113 shares of the utilities provider’s stock valued at $15,705,000 after purchasing an additional 29,458 shares during the last quarter. Jane Street Group LLC acquired a new position in NewJersey Resources in the 1st quarter valued at $8,907,000. Finally, Invesco Ltd. raised its stake in NewJersey Resources by 14.4% in the 2nd quarter. Invesco Ltd. now owns 465,923 shares of the utilities provider’s stock valued at $20,883,000 after purchasing an additional 58,795 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

NewJersey Resources Stock Down 0.3%

Shares of NJR opened at $55.92 on Thursday. The stock has a fifty day simple moving average of $54.43 and a two-hundred day simple moving average of $49.42. The company has a quick ratio of 0.58, a current ratio of 0.83 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $5.64 billion, a PE ratio of 17.31 and a beta of 0.55. NewJersey Resources Corporation has a 52-week low of $43.46 and a 52-week high of $57.70.

NewJersey Resources (NYSE:NJR) last announced its earnings results on Monday, February 2nd. The utilities provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. NewJersey Resources had a return on equity of 13.06% and a net margin of 15.18%.The company had revenue of $604.85 million during the quarter, compared to analysts’ expectations of $546.90 million. During the same period last year, the business posted $1.29 EPS. NewJersey Resources’s revenue for the quarter was up 23.8% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.280-3.43 EPS. As a group, equities analysts forecast that NewJersey Resources Corporation will post 3.15 EPS for the current year.

NewJersey Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Wednesday, June 10th. NewJersey Resources’s dividend payout ratio (DPR) is 58.82%.

Wall Street Analyst Weigh In

NJR has been the subject of several recent research reports. Argus raised NewJersey Resources to a “strong-buy” rating in a research note on Thursday, January 22nd. Mizuho raised NewJersey Resources from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $51.00 to $54.00 in a research note on Wednesday, December 17th. Weiss Ratings raised NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 13th. Wall Street Zen raised NewJersey Resources from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Raymond James Financial reissued an “outperform” rating on shares of NewJersey Resources in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, NewJersey Resources presently has a consensus rating of “Buy” and an average target price of $53.33.

Insider Transactions at NewJersey Resources

In other news, SVP Richard Reich sold 5,449 shares of NewJersey Resources stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $52.99, for a total value of $288,742.51. Following the completion of the transaction, the senior vice president owned 26,975 shares in the company, valued at approximately $1,429,405.25. This trade represents a 16.81% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Roberto Bel sold 6,105 shares of NewJersey Resources stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $55.10, for a total value of $336,385.50. Following the completion of the transaction, the chief financial officer owned 19,780 shares of the company’s stock, valued at $1,089,878. The trade was a 23.59% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.70% of the company’s stock.

NewJersey Resources Company Profile

New Jersey Resources Corporation is a publicly traded energy services holding company headquartered in Wall Township, New Jersey. The firm’s primary focus is on the safe and reliable distribution of natural gas, along with complementary energy services and renewable energy investments. Its operations center on delivering cost-effective solutions to residential, commercial and industrial customers throughout the state.

The company’s principal subsidiary, New Jersey Natural Gas, owns and operates an extensive pipeline network that spans northern, central and southern New Jersey.