Empirical Asset Management LLC Grows Stock Position in NewJersey Resources Corporation $NJR

Empirical Asset Management LLC raised its position in NewJersey Resources Corporation (NYSE:NJR) by 80.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,246 shares of the utilities provider’s stock after buying an additional 13,530 shares during the quarter. Empirical Asset Management LLC’s holdings in NewJersey Resources were worth $1,456,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NJR. MAI Capital Management raised its stake in NewJersey Resources by 6,891.4% in the 3rd quarter. MAI Capital Management now owns 5,663 shares of the utilities provider’s stock valued at $273,000 after acquiring an additional 5,582 shares during the period. Advisors Preferred LLC increased its stake in shares of NewJersey Resources by 147.1% in the third quarter. Advisors Preferred LLC now owns 133,438 shares of the utilities provider’s stock worth $6,361,000 after purchasing an additional 79,436 shares in the last quarter. Ontario Teachers Pension Plan Board raised its position in shares of NewJersey Resources by 16.8% in the third quarter. Ontario Teachers Pension Plan Board now owns 11,269 shares of the utilities provider’s stock valued at $543,000 after purchasing an additional 1,621 shares during the period. denkapparat Operations GmbH raised its position in shares of NewJersey Resources by 69.6% in the third quarter. denkapparat Operations GmbH now owns 13,256 shares of the utilities provider’s stock valued at $638,000 after purchasing an additional 5,438 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of NewJersey Resources by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 687,125 shares of the utilities provider’s stock valued at $33,085,000 after buying an additional 17,035 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NJR shares. Argus upgraded shares of NewJersey Resources to a “strong-buy” rating in a research note on Thursday, January 22nd. Williams Trading set a $55.00 price target on NewJersey Resources in a research report on Tuesday, February 3rd. Mizuho raised NewJersey Resources from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $51.00 to $54.00 in a report on Wednesday, December 17th. Raymond James Financial restated an “outperform” rating on shares of NewJersey Resources in a research note on Tuesday, February 3rd. Finally, Weiss Ratings raised NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $53.00.

NewJersey Resources Trading Up 0.5%

Shares of NewJersey Resources stock opened at $53.66 on Wednesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.83 and a quick ratio of 0.58. NewJersey Resources Corporation has a 1 year low of $43.46 and a 1 year high of $54.70. The firm has a market cap of $5.41 billion, a PE ratio of 16.61 and a beta of 0.60. The company has a 50 day simple moving average of $49.09 and a two-hundred day simple moving average of $47.44.

NewJersey Resources (NYSE:NJR) last posted its quarterly earnings data on Monday, February 2nd. The utilities provider reported $1.17 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $546.90 million. During the same quarter last year, the company posted $1.29 EPS. The business’s quarterly 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. Analysts expect that NewJersey Resources Corporation will post 3.15 earnings per share for the current fiscal year.

NewJersey Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Wednesday, March 11th. NewJersey Resources’s dividend payout ratio is presently 58.82%.

Insider Activity

In other news, COO Patrick J. Migliaccio sold 4,017 shares of the 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 transaction, the chief operating officer directly owned 38,065 shares in the company, valued at approximately $1,768,499.90. This represents a 9.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.