ProShare Advisors LLC Sells 44,962 Shares of NewJersey Resources Corporation $NJR

ProShare Advisors LLC lowered its position in NewJersey Resources Corporation (NYSE:NJR) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 871,644 shares of the utilities provider’s stock after selling 44,962 shares during the quarter. ProShare Advisors LLC’s holdings in NewJersey Resources were worth $40,200,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NJR. Measured Wealth Private Client Group LLC bought a new position in NewJersey Resources in the third quarter worth approximately $28,000. Bessemer Group Inc. grew its stake in NewJersey Resources by 60.1% in the third quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 230 shares in the last quarter. Torren Management LLC purchased a new stake in NewJersey Resources during the fourth quarter worth $35,000. Neo Ivy Capital Management purchased a new stake in NewJersey Resources during the third quarter worth $48,000. Finally, Parallel Advisors LLC lifted its holdings in NewJersey Resources by 56.9% during the third quarter. Parallel Advisors LLC now owns 1,001 shares of the utilities provider’s stock worth $48,000 after buying an additional 363 shares during the period. Institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on NJR. Wells Fargo & Company began coverage on NewJersey Resources in a report on Tuesday, May 12th. They set an “overweight” rating and a $63.00 target price for the company. Argus upgraded NewJersey Resources to a “strong-buy” rating in a report on Thursday, January 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of NewJersey Resources in a report on Wednesday, May 13th. Wall Street Zen upgraded NewJersey Resources from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Raymond James Financial restated an “outperform” rating on shares of NewJersey Resources in a report on Tuesday, February 3rd. Two analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $56.17.

NewJersey Resources Stock Up 1.1%

NewJersey Resources stock opened at $58.24 on Wednesday. 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 has a market capitalization of $5.88 billion, a price-to-earnings ratio of 17.28 and a beta of 0.51. NewJersey Resources Corporation has a 1-year low of $43.46 and a 1-year high of $58.57. The business has a fifty day moving average price of $55.55 and a 200-day moving average price of $50.96.

NewJersey Resources (NYSE:NJR) last posted its quarterly earnings data on Monday, May 4th. The utilities provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. The firm had revenue of $939.40 million during the quarter, compared to analysts’ expectations of $849.95 million. NewJersey Resources had a return on equity of 14.58% and a net margin of 15.67%.The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.78 EPS. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. Equities research analysts forecast that NewJersey Resources Corporation will post 3.5 EPS for the current fiscal year.

NewJersey Resources Dividend Announcement

The company 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 $0.475 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $1.90 dividend on an annualized basis and a yield of 3.3%. NewJersey Resources’s dividend payout ratio (DPR) is 56.38%.

Insider Transactions at NewJersey Resources

In related news, CFO Roberto Bel sold 6,105 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $55.10, for a total value of $336,385.50. Following the completion of the transaction, the chief financial officer owned 19,780 shares in the company, valued at $1,089,878. This trade represents a 23.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Patrick J. Migliaccio sold 3,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $55.84, for a total value of $167,520.00. Following the completion of the transaction, the chief operating officer 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 disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 22,554 shares of company stock worth $1,241,448. Insiders own 0.70% of the company’s stock.

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.