NewJersey Resources Corporation $NJR Position Reduced by Algert Global LLC

Algert Global LLC trimmed its position in NewJersey Resources Corporation (NYSE:NJR) by 11.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,239 shares of the utilities provider’s stock after selling 22,542 shares during the quarter. Algert Global LLC owned approximately 0.17% of NewJersey Resources worth $8,004,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NJR. SG Americas Securities LLC raised its stake in NewJersey Resources by 127.1% during the 2nd quarter. SG Americas Securities LLC now owns 19,637 shares of the utilities provider’s stock valued at $880,000 after purchasing an additional 10,990 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of NewJersey Resources by 101.3% in the second quarter. Hsbc Holdings PLC now owns 212,305 shares of the utilities provider’s stock valued at $9,464,000 after purchasing an additional 106,856 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in shares of NewJersey Resources in the third quarter worth $1,136,000. Thrivent Financial for Lutherans boosted its position in shares of NewJersey Resources by 200.1% in the third quarter. Thrivent Financial for Lutherans now owns 71,444 shares of the utilities provider’s stock worth $3,440,000 after buying an additional 47,635 shares during the period. Finally, Squarepoint Ops LLC grew its holdings in shares of NewJersey Resources by 348.3% during the second quarter. Squarepoint Ops LLC now owns 123,816 shares of the utilities provider’s stock valued at $5,549,000 after buying an additional 96,195 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Activity at NewJersey Resources

In related news, COO Patrick J. Migliaccio sold 4,017 shares of the stock in a transaction that occurred on 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 owned 38,065 shares in the company, valued at approximately $1,768,499.90. This represents a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

NJR has been the topic of several recent analyst reports. New Street Research set a $54.00 price target on NewJersey Resources in a research report on Wednesday, December 17th. Argus upgraded NewJersey Resources to a “strong-buy” rating in a research report on Thursday, January 22nd. Wall Street Zen raised NewJersey Resources from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Weiss Ratings upgraded NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 13th. Finally, Williams Trading set a $55.00 price target on shares of NewJersey Resources in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.00.

NewJersey Resources Trading Down 0.3%

NYSE NJR opened at $54.90 on Tuesday. NewJersey Resources Corporation has a 1-year low of $43.46 and a 1-year high of $55.49. The company has a current ratio of 0.83, a quick ratio of 0.58 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $5.54 billion, a PE ratio of 17.00 and a beta of 0.57. The firm’s fifty day simple moving average is $51.35 and its 200-day simple moving average is $48.16.

NewJersey Resources (NYSE:NJR) last released 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 return on equity of 13.06% and a net margin of 15.18%.The firm had revenue of $604.85 million during the quarter, compared to analysts’ expectations of $546.90 million. During the same quarter last year, the firm earned $1.29 earnings per share. The business’s revenue for the quarter was up 23.8% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.280-3.43 EPS. As a group, sell-side analysts anticipate that NewJersey Resources Corporation will post 3.15 earnings per share for the current fiscal year.

NewJersey Resources Dividend Announcement

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

NewJersey Resources Company 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.