Thrivent Financial for Lutherans Purchases 47,635 Shares of NewJersey Resources Corporation $NJR

Thrivent Financial for Lutherans boosted its position in shares of NewJersey Resources Corporation (NYSE:NJR) by 200.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 71,444 shares of the utilities provider’s stock after acquiring an additional 47,635 shares during the quarter. Thrivent Financial for Lutherans owned 0.07% of NewJersey Resources worth $3,440,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of NewJersey Resources by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 2,545,394 shares of the utilities provider’s stock valued at $114,097,000 after purchasing an additional 16,954 shares during the period. Norges Bank purchased a new position in shares of NewJersey Resources in the second quarter worth approximately $52,671,000. ProShare Advisors LLC grew its position in NewJersey Resources by 0.4% during the second quarter. ProShare Advisors LLC now owns 831,309 shares of the utilities provider’s stock valued at $37,259,000 after buying an additional 3,588 shares during the period. Energy Income Partners LLC increased its holdings in NewJersey Resources by 145.7% during the second quarter. Energy Income Partners LLC now owns 798,661 shares of the utilities provider’s stock valued at $35,796,000 after buying an additional 473,664 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its position in NewJersey Resources by 77.1% in the second quarter. Qube Research & Technologies Ltd now owns 730,300 shares of the utilities provider’s stock worth $32,732,000 after acquiring an additional 317,932 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on NJR shares. Argus upgraded NewJersey Resources to a “strong-buy” rating in a research note on Thursday, January 22nd. Raymond James Financial restated an “outperform” rating on shares of NewJersey Resources in a research report on Tuesday, February 3rd. Williams Trading set a $55.00 price objective on NewJersey Resources in a research report on Tuesday, February 3rd. New Street Research set a $54.00 target price on shares of NewJersey Resources in a report on Wednesday, December 17th. Finally, Mizuho upgraded shares of NewJersey Resources from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $51.00 to $54.00 in a research note on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $53.00.

NewJersey Resources Stock Performance

NYSE:NJR opened at $52.45 on Monday. The stock has a 50-day moving average price of $47.28 and a 200 day moving average price of $46.84. The stock has a market capitalization of $5.29 billion, a P/E ratio of 16.24 and a beta of 0.60. NewJersey Resources Corporation has a 12-month low of $43.46 and a 12-month high of $53.65. The company has a current ratio of 0.83, a quick ratio of 0.58 and a debt-to-equity ratio of 1.32.

NewJersey Resources (NYSE:NJR) last announced its quarterly earnings data on Monday, February 2nd. The utilities provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. NewJersey Resources had a net margin of 15.18% and a return on equity of 13.06%. The business had revenue of $604.85 million during the quarter, compared to analyst estimates of $546.90 million. During the same period last year, the firm posted $1.29 EPS. The company’s revenue was up 23.8% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.280-3.43 EPS. Equities research analysts forecast that NewJersey Resources Corporation will post 3.15 EPS for the current fiscal year.

NewJersey Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 11th will be paid a $0.475 dividend. The ex-dividend date is Wednesday, March 11th. This represents a $1.90 annualized dividend and a yield of 3.6%. NewJersey Resources’s payout ratio is presently 58.82%.

Insider Activity at NewJersey Resources

In other news, COO Patrick J. Migliaccio sold 4,017 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $46.46, for a total transaction of $186,629.82. Following the completion of the transaction, the chief operating officer owned 38,065 shares in the company, valued at $1,768,499.90. This trade represents a 9.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.70% of the stock is owned by company insiders.

About NewJersey Resources

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.