Wealth Enhancement Advisory Services LLC Acquires 69,736 Shares of NewJersey Resources Corporation $NJR

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of NewJersey Resources Corporation (NYSE:NJR) by 603.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,289 shares of the utilities provider’s stock after acquiring an additional 69,736 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.08% of NewJersey Resources worth $3,784,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Inspire Advisors LLC grew its position in shares of NewJersey Resources by 9.3% in the 3rd quarter. Inspire Advisors LLC now owns 63,817 shares of the utilities provider’s stock valued at $3,073,000 after buying an additional 5,415 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of NewJersey Resources during the 3rd quarter worth approximately $516,000. Maryland State Retirement & Pension System grew its position in shares of NewJersey Resources by 2.9% during the 3rd quarter. Maryland State Retirement & Pension System now owns 93,115 shares of the utilities provider’s stock worth $4,483,000 after buying an additional 2,661 shares during the period. MGO One Seven LLC bought a new stake in shares of NewJersey Resources in the 3rd quarter valued at $448,000. Finally, New York State Teachers Retirement System boosted its stake in NewJersey Resources by 3.8% during the third quarter. New York State Teachers Retirement System now owns 121,999 shares of the utilities provider’s stock worth $5,874,000 after acquiring an additional 4,420 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Transactions at NewJersey Resources

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 4,017 shares of NewJersey Resources stock in a transaction that occurred 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 completion of the sale, the chief operating officer owned 38,065 shares of the company’s stock, valued at approximately $1,768,499.90. The trade was a 9.55% decrease in their position. The transaction 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 Performance

Shares of NJR opened at $48.66 on Wednesday. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 14.61 and a beta of 0.60. The stock’s 50-day simple moving average is $46.82 and its 200 day simple moving average is $46.58. NewJersey Resources Corporation has a 52-week low of $43.46 and a 52-week high of $50.76. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.40 and a current ratio of 0.73.

NewJersey Resources (NYSE:NJR) last announced its quarterly earnings results on Wednesday, November 19th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $336.08 million for the quarter, compared to the consensus estimate of $307.30 million. During the same period in the prior year, the company posted $0.89 earnings per share. The company’s quarterly revenue was down 15.1% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.030-3.180 EPS. Research analysts forecast that NewJersey Resources Corporation will post 3.15 EPS for the current fiscal year.

NewJersey Resources Dividend Announcement

The business also recently disclosed 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 3.9%. The ex-dividend date of this dividend is Wednesday, March 11th. NewJersey Resources’s payout ratio is presently 57.06%.

Analyst Upgrades and Downgrades

NJR has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NewJersey Resources in a report on Monday, December 29th. Raymond James Financial reaffirmed an “outperform” rating and issued a $53.00 price objective on shares of NewJersey Resources in a research report on Thursday, November 20th. Argus raised shares of NewJersey Resources to a “strong-buy” rating in a research report on Thursday, January 22nd. New Street Research set a $54.00 price objective on NewJersey Resources in a research note on Wednesday, December 17th. Finally, Wall Street Zen downgraded shares of NewJersey Resources from a “hold” rating to a “sell” rating in a report on Sunday, December 28th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.86.

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.