ProShare Advisors LLC Grows Position in NewJersey Resources Corporation $NJR

ProShare Advisors LLC grew its stake in NewJersey Resources Corporation (NYSE:NJR) by 10.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 916,606 shares of the utilities provider’s stock after acquiring an additional 85,297 shares during the quarter. ProShare Advisors LLC owned about 0.91% of NewJersey Resources worth $44,135,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in NewJersey Resources by 6.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,363 shares of the utilities provider’s stock valued at $2,912,000 after purchasing an additional 3,422 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of NewJersey Resources by 65.7% during the first quarter. NewEdge Advisors LLC now owns 22,214 shares of the utilities provider’s stock worth $1,090,000 after buying an additional 8,808 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of NewJersey Resources by 10.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 320,113 shares of the utilities provider’s stock valued at $15,705,000 after buying an additional 29,458 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of NewJersey Resources during the first quarter valued at approximately $8,907,000. Finally, KLP Kapitalforvaltning AS boosted its position in NewJersey Resources by 23.8% during the second quarter. KLP Kapitalforvaltning AS now owns 47,900 shares of the utilities provider’s stock worth $2,162,000 after acquiring an additional 9,200 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NJR shares. Wall Street Zen upgraded NewJersey Resources from a “sell” rating to a “hold” rating in a report on Saturday. Raymond James Financial reaffirmed an “outperform” rating on shares of NewJersey Resources in a research report on Tuesday, February 3rd. Mizuho upgraded NewJersey Resources from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $51.00 to $54.00 in a research report on Wednesday, December 17th. New Street Research set a $54.00 price target on NewJersey Resources in a research note on Wednesday, December 17th. Finally, Williams Trading set a $55.00 price target on NewJersey Resources in a report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, NewJersey Resources presently has an average rating of “Moderate Buy” and a consensus price target of $53.00.

NewJersey Resources Stock Performance

NewJersey Resources stock opened at $51.74 on Tuesday. The company has a market cap of $5.22 billion, a price-to-earnings ratio of 16.02 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 debt-to-equity ratio of 1.32, a current ratio of 0.83 and a quick ratio of 0.58. The stock’s 50-day moving average is $47.37 and its 200-day moving average is $46.88.

NewJersey Resources (NYSE:NJR) last posted its earnings results on Monday, February 2nd. The utilities provider reported $1.17 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $604.85 million during the quarter, compared to the consensus estimate of $546.90 million. During the same quarter in the prior year, the company earned $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 analysts anticipate that NewJersey Resources Corporation will post 3.15 earnings per share for the current year.

NewJersey Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 11th will be given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, March 11th. NewJersey Resources’s dividend payout ratio is 58.82%.

Insider Transactions at NewJersey Resources

In other NewJersey Resources 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 value of $186,629.82. Following the transaction, the chief operating officer directly owned 38,065 shares of the company’s stock, valued at $1,768,499.90. This trade represents a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

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.