NewJersey Resources Corporation $NJR Shares Sold by Allworth Financial LP

Allworth Financial LP decreased its holdings in shares of NewJersey Resources Corporation (NYSE:NJR) by 52.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,858 shares of the utilities provider’s stock after selling 15,459 shares during the period. Allworth Financial LP’s holdings in NewJersey Resources were worth $667,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of NJR. IFP Advisors Inc boosted its holdings in shares of NewJersey Resources by 24.9% in the 3rd quarter. IFP Advisors Inc now owns 1,878 shares of the utilities provider’s stock valued at $90,000 after buying an additional 374 shares during the period. Swiss Life Asset Management Ltd acquired a new stake in NewJersey Resources during the third quarter worth about $212,000. CIBC Private Wealth Group LLC lifted its holdings in NewJersey Resources by 164.9% in the third quarter. CIBC Private Wealth Group LLC now owns 1,682 shares of the utilities provider’s stock worth $81,000 after acquiring an additional 1,047 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in NewJersey Resources in the third quarter worth about $519,000. Finally, Chartist Inc. CA acquired a new position in NewJersey Resources in the third quarter valued at approximately $408,000. 70.98% of the stock is owned by institutional investors and hedge funds.

NewJersey Resources Stock Performance

NJR opened at $54.16 on Wednesday. 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 business’s 50 day moving average is $52.21 and its 200-day moving average is $48.44. The stock has a market cap of $5.46 billion, a PE ratio of 16.77 and a beta of 0.57. NewJersey Resources Corporation has a twelve month low of $43.46 and a twelve month high of $55.49.

NewJersey Resources (NYSE:NJR) last issued its quarterly earnings data 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. The business had revenue of $604.85 million during the quarter, compared to analyst estimates of $546.90 million. NewJersey Resources had a return on equity of 13.06% and a net margin of 15.18%.The business’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.29 EPS. NewJersey Resources has set its FY 2026 guidance at 3.280-3.43 EPS. On average, analysts predict that NewJersey Resources Corporation will post 3.15 earnings per share for the current year.

NewJersey Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 11th will be paid a dividend of $0.475 per share. 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 payout ratio is currently 58.82%.

Analysts Set New Price Targets

Several equities analysts have recently commented on NJR shares. Raymond James Financial reaffirmed an “outperform” rating on shares of NewJersey Resources in a report on Tuesday, February 3rd. Wall Street Zen upgraded NewJersey Resources from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings upgraded NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 13th. New Street Research set a $54.00 target price on NewJersey Resources in a research report on Wednesday, December 17th. Finally, Argus upgraded NewJersey Resources to a “strong-buy” rating in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

Insider Transactions at NewJersey Resources

In other NewJersey Resources news, CFO Roberto Bel sold 6,105 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $55.10, for a total transaction of $336,385.50. Following the transaction, the chief financial officer owned 19,780 shares of the company’s stock, valued at approximately $1,089,878. This trade represents a 23.59% decrease in their position. The transaction 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 firm’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $52.99, for a total transaction of $288,742.51. Following the transaction, the senior vice president directly owned 26,975 shares in the company, valued at approximately $1,429,405.25. The trade was a 16.81% decrease in their position. The SEC filing for this sale provides additional information. 0.70% of the stock is owned by insiders.

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.