Ensign Peak Advisors Inc Cuts Position in NewJersey Resources Corporation $NJR

Ensign Peak Advisors Inc trimmed its position in shares of NewJersey Resources Corporation (NYSE:NJR) by 26.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,723 shares of the utilities provider’s stock after selling 7,000 shares during the period. Ensign Peak Advisors Inc’s holdings in NewJersey Resources were worth $884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Inspire Advisors LLC increased its position in NewJersey Resources by 954.4% in the second quarter. Inspire Advisors LLC now owns 58,402 shares of the utilities provider’s stock worth $2,618,000 after purchasing an additional 52,863 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of NewJersey Resources by 0.8% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 33,860 shares of the utilities provider’s stock valued at $1,518,000 after buying an additional 282 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new position in shares of NewJersey Resources in the 2nd quarter valued at about $432,000. Intech Investment Management LLC grew its position in NewJersey Resources by 2.9% in the second quarter. Intech Investment Management LLC now owns 61,825 shares of the utilities provider’s stock worth $2,771,000 after acquiring an additional 1,717 shares in the last quarter. Finally, Creative Planning increased its stake in NewJersey Resources by 8.5% during the second quarter. Creative Planning now owns 25,583 shares of the utilities provider’s stock worth $1,147,000 after acquiring an additional 2,009 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NJR shares. Wall Street Zen lowered NewJersey Resources from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of NewJersey Resources in a research report on Friday. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $53.00 price objective on shares of NewJersey Resources in a research note on Thursday, November 20th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $51.86.

NewJersey Resources Price Performance

NJR opened at $48.08 on Friday. The business has a fifty day moving average of $46.46 and a 200 day moving average of $46.18. The stock has a market cap of $4.84 billion, a P/E ratio of 11.76 and a beta of 0.67. The company has a quick ratio of 0.48, a current ratio of 0.76 and a debt-to-equity ratio of 1.25. NewJersey Resources Corporation has a 52-week low of $43.46 and a 52-week high of $51.79.

NewJersey Resources (NYSE:NJR) last released its earnings results on Wednesday, November 19th. The utilities provider reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.01. The business had revenue of $336.08 million during the quarter, compared to the consensus estimate of $307.30 million. NewJersey Resources had a return on equity of 17.08% and a net margin of 19.64%.The business’s revenue for the quarter was down 15.1% compared to the same quarter last year. During the same period last year, the company earned $0.89 earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.030-3.180 EPS. As a group, sell-side analysts anticipate that NewJersey Resources Corporation will post 3.15 EPS for the current year.

NewJersey Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 12th will be paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, December 12th. NewJersey Resources’s payout ratio is currently 57.06%.

About NewJersey Resources

New Jersey Resources Corporation, an energy services holding company, distributes natural gas. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Storage and Transportation. The Natural Gas Distribution segment offers regulated natural gas utility services to approximately 576,000 customers in Burlington, Middlesex, Monmouth, Morris, Ocean, and Sussex counties in New Jersey; provides capacity and storage management services; and participates in the off-system sales and capacity release markets.