Citigroup Inc. Sells 13,109 Shares of NewJersey Resources Corporation $NJR

Citigroup Inc. decreased its stake in NewJersey Resources Corporation (NYSE:NJR) by 24.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,921 shares of the utilities provider’s stock after selling 13,109 shares during the quarter. Citigroup Inc.’s holdings in NewJersey Resources were worth $1,922,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in NJR. Bessemer Group Inc. grew its stake in shares of NewJersey Resources by 60.1% during the 3rd quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 230 shares during the period. Tradewinds Capital Management LLC bought a new stake in NewJersey Resources during the 3rd quarter worth approximately $30,000. EverSource Wealth Advisors LLC lifted its holdings in NewJersey Resources by 259.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,203 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 868 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of NewJersey Resources in the second quarter worth approximately $54,000. Finally, UMB Bank n.a. boosted its position in shares of NewJersey Resources by 19.7% in the third quarter. UMB Bank n.a. now owns 1,680 shares of the utilities provider’s stock worth $81,000 after purchasing an additional 277 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Patrick J. Migliaccio sold 4,017 shares of the business’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $46.46, for a total value of $186,629.82. Following the sale, the chief operating officer owned 38,065 shares in the company, valued at approximately $1,768,499.90. The trade was a 9.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

NewJersey Resources Stock Up 0.0%

NJR opened at $54.49 on Monday. The firm has a 50-day simple moving average of $50.34 and a two-hundred day simple moving average of $47.85. NewJersey Resources Corporation has a 52 week low of $43.46 and a 52 week high of $55.49. The company has a market capitalization of $5.50 billion, a PE ratio of 16.87 and a beta of 0.57. The company has a quick ratio of 0.58, a current ratio of 0.83 and a debt-to-equity ratio of 1.32.

NewJersey Resources (NYSE:NJR) last issued its earnings results on Monday, February 2nd. The utilities provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $546.90 million. During the same period in the previous year, the firm posted $1.29 earnings per share. The business’s revenue was up 23.8% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.280-3.43 EPS. Analysts forecast that NewJersey Resources Corporation will post 3.15 earnings per share for the current fiscal year.

NewJersey Resources Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Mizuho upgraded shares of NewJersey Resources from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $51.00 to $54.00 in a research report on Wednesday, December 17th. New Street Research set a $54.00 price objective on NewJersey Resources in a research note on Wednesday, December 17th. Raymond James Financial reissued an “outperform” rating on shares of NewJersey Resources in a research note on Tuesday, February 3rd. Argus upgraded NewJersey Resources to a “strong-buy” rating in a research note on Thursday, January 22nd. Finally, Wall Street Zen upgraded NewJersey Resources from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, NewJersey Resources has an average rating of “Moderate Buy” and an average price target of $53.00.

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.