Alps Advisors Inc. Buys 42,185 Shares of NewJersey Resources Corporation $NJR

Alps Advisors Inc. grew its stake in NewJersey Resources Corporation (NYSE:NJR) by 142.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,836 shares of the utilities provider’s stock after purchasing an additional 42,185 shares during the period. Alps Advisors Inc. owned about 0.07% of NewJersey Resources worth $3,459,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NJR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in NewJersey Resources by 6.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,363 shares of the utilities provider’s stock valued at $2,912,000 after acquiring an additional 3,422 shares during the period. NewEdge Advisors LLC grew its holdings in shares of NewJersey Resources by 65.7% during the 1st quarter. NewEdge Advisors LLC now owns 22,214 shares of the utilities provider’s stock worth $1,090,000 after purchasing an additional 8,808 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of NewJersey Resources by 10.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 320,113 shares of the utilities provider’s stock valued at $15,705,000 after purchasing an additional 29,458 shares during the period. Jane Street Group LLC acquired a new position in shares of NewJersey Resources in the first quarter valued at $8,907,000. Finally, KLP Kapitalforvaltning AS lifted its position in NewJersey Resources by 23.8% in the second quarter. KLP Kapitalforvaltning AS now owns 47,900 shares of the utilities provider’s stock worth $2,162,000 after purchasing an additional 9,200 shares during the period. Institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NJR. Raymond James Financial reissued an “outperform” rating on shares of NewJersey Resources in a report on Tuesday, February 3rd. Argus raised shares of NewJersey Resources to a “strong-buy” rating in a research note on Thursday, January 22nd. Weiss Ratings restated a “hold (c+)” rating on shares of NewJersey Resources in a research note on Monday, December 29th. New Street Research set a $54.00 target price on NewJersey Resources in a report on Wednesday, December 17th. Finally, Wall Street Zen raised NewJersey Resources from a “sell” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.00.

NewJersey Resources Trading Down 1.3%

NJR stock opened at $51.74 on Tuesday. The business has a fifty day moving average price of $47.37 and a 200 day moving average price of $46.88. 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 fifty-two week low of $43.46 and a fifty-two week high of $53.65. The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of 16.02 and a beta of 0.60.

NewJersey Resources (NYSE:NJR) last posted its quarterly earnings data on Monday, February 2nd. The utilities provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. The company had revenue of $604.85 million for 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 was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.29 earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.280-3.43 EPS. Analysts expect that NewJersey Resources Corporation will post 3.15 EPS for the current fiscal year.

NewJersey Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 11th will be paid 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 3.7%. NewJersey Resources’s payout ratio is currently 58.82%.

Insider Activity

In other news, COO Patrick J. Migliaccio sold 4,017 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $46.46, for a total transaction of $186,629.82. Following the sale, the chief operating officer directly owned 38,065 shares of the company’s stock, valued at $1,768,499.90. This represents a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.70% of the company’s stock.

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.