NewJersey Resources Corporation $NJR Stock: Nisa Investment Advisors LLC Raises Position

Nisa Investment Advisors LLC raised its position in NewJersey Resources Corporation (NYSE:NJR) by 14.2% in the third quarter, Holdings Channel reports. The fund owned 92,020 shares of the utilities provider’s stock after buying an additional 11,431 shares during the period. Nisa Investment Advisors LLC’s holdings in NewJersey Resources were worth $4,703,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Randall & Associates Wealth Management purchased a new stake in shares of NewJersey Resources in the 3rd quarter valued at approximately $257,000. Strategy Asset Managers LLC lifted its position in shares of NewJersey Resources by 2.9% during the 3rd quarter. Strategy Asset Managers LLC now owns 9,214 shares of the utilities provider’s stock worth $466,000 after purchasing an additional 263 shares during the last quarter. Affinity Capital Advisors LLC lifted its position in shares of NewJersey Resources by 29.9% during the 3rd quarter. Affinity Capital Advisors LLC now owns 6,316 shares of the utilities provider’s stock worth $323,000 after purchasing an additional 1,452 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of NewJersey Resources by 131.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,804 shares of the utilities provider’s stock worth $445,000 after purchasing an additional 5,001 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of NewJersey Resources by 88.7% during the third quarter. Versant Capital Management Inc now owns 1,217 shares of the utilities provider’s stock worth $62,000 after purchasing an additional 572 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insiders Place Their Bets

In other NewJersey Resources news, COO Patrick Migliaccio sold 3,000 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $55.63, for a total value of $166,890.00. Following the completion of the transaction, the chief operating officer owned 32,202 shares in the company, valued at $1,791,397.26. This represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by company insiders.

NewJersey Resources Stock Down 0.8%

NJR stock opened at $53.21 on Friday. The stock 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 current ratio of 0.66, a quick ratio of 0.45 and a debt-to-equity ratio of 1.21. NewJersey Resources Corporation has a twelve month low of $43.46 and a twelve month high of $60.86. The company’s 50 day moving average is $52.75 and its two-hundred day moving average is $55.19.

NewJersey Resources (NYSE:NJR) last issued its earnings results on Monday, August 3rd. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. The business had revenue of $349.18 million during the quarter, compared to analysts’ expectations of $342.13 million. NewJersey Resources had a net margin of 16.42% and a return on equity of 14.46%. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.15) EPS. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. Research analysts expect that NewJersey Resources Corporation will post 3.59 earnings per share for the current fiscal year.

NewJersey Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 24th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.8%. This is a boost from NewJersey Resources’s previous quarterly dividend of $0.4750. The ex-dividend date of this dividend was Thursday, September 24th. NewJersey Resources’s dividend payout ratio is presently 55.25%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NJR shares. Huntington initiated coverage on shares of NewJersey Resources in a research note on Monday, September 14th. They set an “outperform” rating and a $68.00 target price for the company. Wells Fargo & Company cut NewJersey Resources from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $63.00 to $61.00 in a research note on Wednesday, August 5th. Wall Street Zen raised NewJersey Resources from a “sell” rating to a “hold” rating in a report on Sunday, September 20th. Weiss Ratings cut NewJersey Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Finally, Raymond James Financial set a $61.00 price objective on NewJersey Resources in a research report on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, NewJersey Resources has a consensus rating of “Buy” and an average target price of $62.50.

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.