NewJersey Resources Corporation Announces Quarterly Dividend of $0.48 (NYSE:NJR)

NewJersey Resources Corporation (NYSE:NJR) declared a quarterly dividend on Wednesday, January 21st. Shareholders of record on Wednesday, March 11th will be given a dividend of 0.475 per share by the utilities provider on Wednesday, April 1st. This represents a c) annualized dividend and a yield of 4.0%. The ex-dividend date is Wednesday, March 11th.

NewJersey Resources has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 29 consecutive years. NewJersey Resources has a dividend payout ratio of 60.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect NewJersey Resources to earn $3.12 per share next year, which means the company should continue to be able to cover its $1.90 annual dividend with an expected future payout ratio of 60.9%.

NewJersey Resources Trading Down 0.1%

Shares of NJR stock opened at $47.99 on Thursday. NewJersey Resources has a 12-month low of $43.46 and a 12-month high of $50.76. The company has a market capitalization of $4.83 billion, a PE ratio of 14.41 and a beta of 0.60. The firm has a 50 day moving average price of $46.66 and a two-hundred day moving average price of $46.49. The company has a quick ratio of 0.40, a current ratio of 0.73 and a debt-to-equity ratio of 1.36.

NewJersey Resources (NYSE:NJR) last announced its earnings results on Wednesday, November 19th. The utilities provider reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. NewJersey Resources had a return on equity of 13.73% and a net margin of 16.48%.The company had revenue of $336.08 million for the quarter, compared to analyst estimates of $307.30 million. During the same quarter last year, the company earned $0.89 earnings per share. The firm’s quarterly revenue was down 15.1% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.030-3.180 EPS. As a group, analysts predict that NewJersey Resources will post 3.15 earnings per share for the current year.

Insider Buying and Selling at NewJersey Resources

In other news, COO Patrick J. Migliaccio sold 4,017 shares of the business’s stock in a transaction dated 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 directly owned 38,065 shares of the company’s stock, valued at $1,768,499.90. The trade was a 9.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On NewJersey Resources

A number of hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its holdings in shares of NewJersey Resources by 3.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,566,321 shares of the utilities provider’s stock worth $171,717,000 after buying an additional 130,831 shares in the last quarter. Geode Capital Management LLC grew its holdings in NewJersey Resources by 0.7% in the second quarter. Geode Capital Management LLC now owns 2,545,394 shares of the utilities provider’s stock worth $114,097,000 after purchasing an additional 16,954 shares during the period. Northern Trust Corp increased its stake in NewJersey Resources by 1.1% in the third quarter. Northern Trust Corp now owns 1,335,344 shares of the utilities provider’s stock valued at $64,297,000 after purchasing an additional 14,512 shares in the last quarter. Norges Bank bought a new stake in NewJersey Resources in the second quarter valued at $52,671,000. Finally, First Trust Advisors LP raised its holdings in shares of NewJersey Resources by 10.7% during the third quarter. First Trust Advisors LP now owns 1,158,719 shares of the utilities provider’s stock valued at $55,792,000 after purchasing an additional 111,696 shares during the period. 70.98% of the stock is currently owned by institutional investors.

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.