NewJersey Resources Corporation $NJR Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC raised its holdings in shares of NewJersey Resources Corporation (NYSE:NJR) by 28.1% in the 4th quarter, HoldingsChannel reports. The fund owned 60,714 shares of the utilities provider’s stock after buying an additional 13,325 shares during the quarter. Intech Investment Management LLC’s holdings in NewJersey Resources were worth $2,800,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Fifth Third Bancorp lifted its holdings in shares of NewJersey Resources by 19.1% in the 4th quarter. Fifth Third Bancorp now owns 1,311 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 210 shares during the last quarter. US Bancorp DE lifted its holdings in shares of NewJersey Resources by 7.9% in the 3rd quarter. US Bancorp DE now owns 3,127 shares of the utilities provider’s stock valued at $151,000 after purchasing an additional 228 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of NewJersey Resources by 60.1% in the 3rd quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 230 shares during the last quarter. Horizon Investment Services LLC lifted its holdings in shares of NewJersey Resources by 4.7% in the 3rd quarter. Horizon Investment Services LLC now owns 6,057 shares of the utilities provider’s stock valued at $292,000 after purchasing an additional 273 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of NewJersey Resources by 19.7% in the 3rd quarter. UMB Bank n.a. now owns 1,680 shares of the utilities provider’s stock valued at $81,000 after purchasing an additional 277 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NJR has been the subject of several research reports. Williams Trading set a $55.00 target price on NewJersey Resources in a report on Tuesday, February 3rd. Argus set a $63.00 target price on NewJersey Resources in a report on Wednesday, May 20th. Wells Fargo & Company initiated coverage on NewJersey Resources in a report on Tuesday, May 12th. They issued an “overweight” rating and a $63.00 target price for the company. Mizuho boosted their target price on NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, April 21st. Finally, Weiss Ratings raised NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $58.17.

NewJersey Resources Stock Performance

NYSE NJR opened at $54.04 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.80 and a debt-to-equity ratio of 1.24. The business’s 50 day moving average is $55.94 and its two-hundred day moving average is $51.69. 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.

NewJersey Resources (NYSE:NJR) last released its earnings results on Monday, May 4th. The utilities provider reported $2.20 earnings per share (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 company had revenue of $939.40 million for the quarter, compared to analysts’ expectations of $849.95 million. During the same quarter in the previous year, the firm posted $1.78 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. Research analysts expect that NewJersey Resources Corporation will post 3.5 EPS for the current year.

NewJersey Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th will be given a dividend of $0.475 per share. The ex-dividend date is Wednesday, June 10th. This represents a $1.90 annualized dividend and a yield of 3.5%. NewJersey Resources’s payout ratio is presently 56.38%.

Insider Activity at NewJersey Resources

In other NewJersey Resources news, CFO Roberto Bel sold 6,105 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $55.10, for a total transaction of $336,385.50. Following the transaction, the chief financial officer owned 19,780 shares in the company, valued at approximately $1,089,878. The trade was a 23.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Richard Reich sold 5,449 shares of the business’s stock in a transaction that occurred on 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 owned 26,975 shares in the company, valued at $1,429,405.25. The trade was a 16.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 23,704 shares of company stock worth $1,307,389 in the last three months. 0.70% of the stock is currently owned by corporate insiders.

NewJersey Resources 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.