Intech Investment Management LLC raised its holdings in NewJersey Resources Corporation (NYSE:NJR – Free Report) by 28.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,714 shares of the utilities provider’s stock after purchasing an additional 13,325 shares during the quarter. Intech Investment Management LLC owned 0.06% of NewJersey Resources worth $2,800,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NJR. Measured Wealth Private Client Group LLC acquired a new stake in shares of NewJersey Resources in the third quarter valued at $28,000. Bessemer Group Inc. grew its stake in shares of NewJersey Resources by 60.1% in the third quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock valued at $29,000 after buying an additional 230 shares in the last quarter. Torren Management LLC acquired a new stake in shares of NewJersey Resources in the fourth quarter valued at $35,000. Neo Ivy Capital Management acquired a new stake in shares of NewJersey Resources in the third quarter valued at $48,000. Finally, Parallel Advisors LLC grew its stake in shares of NewJersey Resources by 56.9% in the third quarter. Parallel Advisors LLC now owns 1,001 shares of the utilities provider’s stock valued at $48,000 after buying an additional 363 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on NJR shares. Wall Street Zen raised NewJersey Resources from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Mizuho lifted their price objective on NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, April 21st. Raymond James Financial reaffirmed an “outperform” rating on shares of NewJersey Resources in a research note on Tuesday, February 3rd. Williams Trading set a $55.00 price objective on NewJersey Resources in a research note on Tuesday, February 3rd. Finally, Wells Fargo & Company initiated coverage on NewJersey Resources in a research note on Tuesday, May 12th. They issued an “overweight” rating and a $63.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to MarketBeat, NewJersey Resources presently has an average rating of “Buy” and an average price target of $58.17.
Insider Buying and Selling at NewJersey Resources
In other news, COO Patrick J. Migliaccio sold 3,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $55.84, for a total transaction of $167,520.00. Following the completion of the transaction, the chief operating officer directly owned 35,202 shares of the company’s stock, valued at approximately $1,965,679.68. This represents a 7.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Richard Reich sold 5,449 shares of the company’s 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 transaction, the senior vice president directly owned 26,975 shares of the company’s stock, valued at approximately $1,429,405.25. This represents a 16.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 23,704 shares of company stock worth $1,307,389. Corporate insiders own 0.70% of the company’s stock.
NewJersey Resources Trading Up 0.7%
NJR opened at $54.04 on Wednesday. NewJersey Resources Corporation has a 12 month low of $43.46 and a 12 month high of $58.57. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 16.04 and a beta of 0.50. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.80. The business has a fifty day moving average price of $55.94 and a 200 day moving average price of $51.69.
NewJersey Resources (NYSE:NJR – Get Free Report) last released its earnings results on Monday, May 4th. The utilities provider reported $2.20 EPS for the quarter, topping the consensus estimate of $1.89 by $0.31. NewJersey Resources had a return on equity of 14.58% and a net margin of 15.67%.The firm had revenue of $939.40 million during the quarter, compared to analysts’ expectations of $849.95 million. During the same period in the previous year, the firm posted $1.78 EPS. NewJersey Resources’s revenue for the quarter was up 2.9% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. Sell-side analysts expect that NewJersey Resources Corporation will post 3.5 earnings per share for the current fiscal year.
NewJersey Resources Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th will be paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, June 10th. NewJersey Resources’s payout ratio is presently 56.38%.
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.
Featured Articles
- Five stocks we like better than NewJersey Resources
- Marvell Stock Soars on NVIDIA’s Trillion-Dollar Nod
- FirstCash Turns Pawn Into a Growth Machine
- HubSpot Just Crushed the Bear Case—Is a Bigger Rally Ahead?
- Aggressive Insider Buying Signals Opportunity in 3 Risky Stocks
Receive News & Ratings for NewJersey Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NewJersey Resources and related companies with MarketBeat.com's FREE daily email newsletter.
