Tudor Investment Corp ET AL Sells 255,349 Shares of NewJersey Resources Corporation $NJR

Tudor Investment Corp ET AL cut its position in shares of NewJersey Resources Corporation (NYSE:NJR) by 81.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,974 shares of the utilities provider’s stock after selling 255,349 shares during the period. Tudor Investment Corp ET AL’s holdings in NewJersey Resources were worth $2,840,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE raised its position in NewJersey Resources by 7.9% in the 3rd quarter. US Bancorp DE now owns 3,127 shares of the utilities provider’s stock worth $151,000 after purchasing an additional 228 shares during the period. Bessemer Group Inc. boosted its position in shares of NewJersey Resources by 60.1% during 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 during the period. Horizon Investment Services LLC grew its stake in shares of NewJersey Resources by 4.7% during the third quarter. Horizon Investment Services LLC now owns 6,057 shares of the utilities provider’s stock valued at $292,000 after buying an additional 273 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of NewJersey Resources by 19.7% in the third quarter. UMB Bank n.a. now owns 1,680 shares of the utilities provider’s stock worth $81,000 after buying an additional 277 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its holdings in shares of NewJersey Resources by 5.5% in the third quarter. B. Riley Wealth Advisors Inc. now owns 5,739 shares of the utilities provider’s stock worth $276,000 after buying an additional 297 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NJR has been the subject of a number of recent analyst reports. Argus upgraded NewJersey Resources to a “strong-buy” rating in a report on Thursday, January 22nd. Raymond James Financial reiterated an “outperform” rating on shares of NewJersey Resources in a research note on Tuesday, February 3rd. Mizuho raised shares of NewJersey Resources from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $51.00 to $54.00 in a research note on Wednesday, December 17th. New Street Research set a $54.00 price target on shares of NewJersey Resources in a report on Wednesday, December 17th. Finally, Williams Trading set a $55.00 price target on shares of NewJersey Resources in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $53.33.

Insider Activity

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

NewJersey Resources Stock Down 1.0%

Shares of NYSE:NJR opened at $56.96 on Friday. The business’s 50 day moving average is $54.14 and its 200 day moving average is $49.23. The stock has a market cap of $5.74 billion, a P/E ratio of 17.64 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. The company has a quick ratio of 0.58, a current ratio of 0.83 and a debt-to-equity ratio of 1.32.

NewJersey Resources (NYSE:NJR) last issued its earnings results on Monday, February 2nd. The utilities provider reported $1.17 earnings per share 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 business had revenue of $604.85 million during the quarter, compared to analyst estimates of $546.90 million. During the same period in the previous year, the company posted $1.29 EPS. NewJersey Resources’s revenue was up 23.8% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.280-3.43 EPS. Sell-side analysts predict that NewJersey Resources Corporation will post 3.15 EPS for the current year.

NewJersey Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Wednesday, March 11th were paid a $0.475 dividend. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $1.90 dividend on an annualized basis and a yield of 3.3%. NewJersey Resources’s dividend payout ratio is 58.82%.

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.