JPMorgan Chase & Co. Boosts Stock Position in NewJersey Resources Corporation $NJR

JPMorgan Chase & Co. grew its holdings in NewJersey Resources Corporation (NYSE:NJR) by 2.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 687,125 shares of the utilities provider’s stock after purchasing an additional 17,035 shares during the period. JPMorgan Chase & Co. owned about 0.68% of NewJersey Resources worth $33,085,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. US Bancorp DE boosted its stake in shares of NewJersey Resources by 7.9% during the third quarter. US Bancorp DE now owns 3,127 shares of the utilities provider’s stock valued at $151,000 after purchasing an additional 228 shares during the period. Bessemer Group Inc. increased its stake in NewJersey Resources by 60.1% in the 3rd quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock worth $29,000 after buying an additional 230 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in NewJersey Resources by 0.8% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 31,318 shares of the utilities provider’s stock valued at $1,404,000 after buying an additional 236 shares in the last quarter. Horizon Investment Services LLC boosted its position in NewJersey Resources by 4.7% in the 3rd quarter. Horizon Investment Services LLC now owns 6,057 shares of the utilities provider’s stock valued at $292,000 after buying an additional 273 shares during the period. Finally, UMB Bank n.a. boosted its position in NewJersey Resources by 19.7% in the 3rd quarter. UMB Bank n.a. now owns 1,680 shares of the utilities provider’s stock valued at $81,000 after buying an additional 277 shares during the period. 70.98% of the stock is currently owned by institutional investors.

NewJersey Resources Trading Down 2.0%

Shares of NYSE:NJR opened at $52.70 on Monday. The business’s 50-day moving average is $51.92 and its 200 day moving average is $48.34. 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 $55.49. The firm has a market capitalization of $5.31 billion, a P/E ratio of 16.32 and a beta of 0.57.

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

NewJersey Resources Dividend Announcement

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

Insider Buying and Selling

In related news, COO Patrick J. Migliaccio sold 4,017 shares of the company’s 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 sale, the chief operating officer owned 38,065 shares in the company, valued at $1,768,499.90. This represents a 9.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Richard Reich sold 5,449 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $52.99, for a total transaction of $288,742.51. Following the completion of the transaction, the senior vice president owned 26,975 shares in the company, valued at approximately $1,429,405.25. This trade represents a 16.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 15,571 shares of company stock worth $811,758 in the last 90 days. Insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Williams Trading set a $55.00 target price on shares of NewJersey Resources in a research report on Tuesday, February 3rd. Mizuho upgraded shares of NewJersey Resources from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $51.00 to $54.00 in a report on Wednesday, December 17th. Raymond James Financial reaffirmed an “outperform” rating on shares of NewJersey Resources in a research report on Tuesday, February 3rd. Weiss Ratings upgraded shares of NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 13th. Finally, New Street Research set a $54.00 price objective on shares of NewJersey Resources in a report on Wednesday, December 17th. One investment 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. According to MarketBeat.com, NewJersey Resources presently has a consensus rating of “Moderate Buy” and an average target price of $53.00.

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.