Nisa Investment Advisors LLC boosted its holdings in shares of NewJersey Resources Corporation (NYSE:NJR – Free Report) by 14.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 92,020 shares of the utilities provider’s stock after acquiring an additional 11,431 shares during the quarter. Nisa Investment Advisors LLC owned about 0.09% of NewJersey Resources worth $4,703,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Root Financial Partners LLC lifted its stake in shares of NewJersey Resources by 56.5% in the 1st quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 190 shares during the last quarter. Essential Partners LLC grew its holdings in shares of NewJersey Resources by 67.3% during the 2nd quarter. Essential Partners LLC now owns 686 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 276 shares during the period. CENTRAL TRUST Co increased its position in shares of NewJersey Resources by 172.7% during the 1st quarter. CENTRAL TRUST Co now owns 818 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 518 shares during the last quarter. Roxbury Financial LLC increased its position in shares of NewJersey Resources by 72.9% during the 2nd quarter. Roxbury Financial LLC now owns 885 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 373 shares during the last quarter. Finally, Fiduciary Financial Advisors acquired a new stake in shares of NewJersey Resources during the 2nd quarter worth about $51,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.
NewJersey Resources Price Performance
Shares of NJR opened at $53.21 on Friday. NewJersey Resources Corporation has a fifty-two week low of $43.46 and a fifty-two week high of $60.86. The firm’s 50 day moving average price is $52.75 and its 200 day moving average price is $55.19. The company has a market cap of $5.40 billion, a P/E ratio of 14.73, a PEG ratio of 3.13 and a beta of 0.48. The company has a quick ratio of 0.45, a current ratio of 0.66 and a debt-to-equity ratio of 1.21.
NewJersey Resources (NYSE:NJR – Get Free Report) last released its earnings results on Monday, August 3rd. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. NewJersey Resources had a net margin of 16.42% and a return on equity of 14.46%. The company had revenue of $349.18 million for the quarter, compared to analyst estimates of $342.13 million. During the same period in the prior year, the business earned ($0.15) EPS. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. On average, research analysts forecast that NewJersey Resources Corporation will post 3.59 earnings per share for the current fiscal year.
NewJersey Resources Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, September 24th were paid a $0.50 dividend. The ex-dividend date was Thursday, September 24th. This is an increase from NewJersey Resources’s previous quarterly dividend of $0.4750. This represents a $2.00 annualized dividend and a dividend yield of 3.8%. NewJersey Resources’s payout ratio is 55.25%.
Insider Activity
In other news, COO Patrick Migliaccio sold 3,000 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $55.63, for a total value of $166,890.00. Following the sale, the chief operating officer directly owned 32,202 shares in the company, valued at approximately $1,791,397.26. This trade represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have commented on NJR. New Street Research set a $68.00 target price on shares of NewJersey Resources in a research report on Monday, September 14th. JPMorgan Chase & Co. dropped their price target on shares of NewJersey Resources from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, September 11th. Raymond James Financial set a $61.00 price target on shares of NewJersey Resources in a research report on Thursday, October 15th. Wells Fargo & Company downgraded shares of NewJersey Resources from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $63.00 to $61.00 in a research note on Wednesday, August 5th. Finally, Huntington began coverage on shares of NewJersey Resources in a report on Monday, September 14th. They issued an “outperform” rating and a $68.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, NewJersey Resources currently has an average rating of “Buy” and an average target price of $62.50.
View Our Latest Analysis on NewJersey Resources
NewJersey Resources Company Profile
New Jersey Resources Corporation (NYSE: NJR) is an energy services holding company headquartered in New Jersey. Through its subsidiaries, the company provides natural gas distribution, energy management, storage and transportation, and clean energy services to residential, commercial, industrial and institutional customers.
New Jersey Natural Gas, the company’s principal regulated utility, distributes natural gas to customers in central and northern New Jersey. Its energy services operations manage natural gas supplies and provide related products and services, while its storage and transportation activities support the movement and availability of natural gas through regional infrastructure.
The company also invests in renewable energy and other lower-carbon initiatives, including solar generation and clean energy solutions.
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