Peregrine Capital Management LLC Has $5.35 Million Position in NewJersey Resources Corporation $NJR

Peregrine Capital Management LLC lessened its holdings in NewJersey Resources Corporation (NYSE:NJR) by 8.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 97,466 shares of the utilities provider’s stock after selling 9,357 shares during the period. Peregrine Capital Management LLC owned 0.10% of NewJersey Resources worth $5,353,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in NJR. Castellan Group increased its holdings in shares of NewJersey Resources by 10.6% in the first quarter. Castellan Group now owns 88,321 shares of the utilities provider’s stock valued at $4,851,000 after purchasing an additional 8,478 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of NewJersey Resources by 6.4% during the 1st quarter. Pictet Asset Management Holding SA now owns 18,184 shares of the utilities provider’s stock worth $999,000 after buying an additional 1,088 shares during the last quarter. Sterling Capital Management LLC lifted its stake in shares of NewJersey Resources by 16.7% during the 1st quarter. Sterling Capital Management LLC now owns 6,813 shares of the utilities provider’s stock worth $374,000 after buying an additional 973 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its holdings in shares of NewJersey Resources by 2.1% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 17,189 shares of the utilities provider’s stock worth $944,000 after buying an additional 358 shares during the period. Finally, Louisiana State Employees Retirement System bought a new stake in shares of NewJersey Resources during the 1st quarter worth about $1,604,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Buying and Selling at NewJersey Resources

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 3,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $55.84, for a total value of $167,520.00. Following the transaction, the chief operating officer directly owned 35,202 shares of the company’s stock, valued at $1,965,679.68. This trade represents a 7.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jane M. Kenny sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $56.10, for a total transaction of $448,800.00. Following the completion of the transaction, the director owned 21,998 shares of the company’s stock, valued at $1,234,087.80. The trade was a 26.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,150 shares of company stock valued at $682,261 in the last ninety days. 0.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on NJR shares. Argus set a $63.00 price target on shares of NewJersey Resources in a report on Wednesday, May 20th. Weiss Ratings upgraded NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. Mizuho upped their target price on NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, April 21st. Finally, Wells Fargo & Company assumed coverage on NewJersey Resources in a research note on Tuesday, May 12th. They set an “overweight” rating and a $63.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $58.17.

NewJersey Resources Price Performance

NewJersey Resources stock opened at $56.25 on Thursday. The firm has a market cap of $5.68 billion, a PE ratio of 16.69 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 stock’s fifty day moving average price is $55.89 and its two-hundred day moving average price is $53.04. NewJersey Resources Corporation has a one year low of $43.46 and a one year high of $58.57.

NewJersey Resources (NYSE:NJR) last released its earnings results on Monday, May 4th. The utilities provider reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $849.95 million. During the same period in the prior year, the company posted $1.78 EPS. The company’s revenue was up 2.9% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. As a group, research analysts expect that NewJersey Resources Corporation will post 3.57 EPS for the current fiscal year.

NewJersey Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th were paid 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 was Wednesday, June 10th. NewJersey Resources’s dividend 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.