Hsbc Holdings PLC Has $4.43 Million Position in NewJersey Resources Corporation $NJR

Hsbc Holdings PLC lessened its holdings in NewJersey Resources Corporation (NYSE:NJR) by 25.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 96,203 shares of the utilities provider’s stock after selling 33,688 shares during the period. Hsbc Holdings PLC’s holdings in NewJersey Resources were worth $4,431,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in NJR. Rockefeller Capital Management L.P. grew its holdings in NewJersey Resources by 48.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,733 shares of the utilities provider’s stock worth $172,000 after acquiring an additional 1,225 shares during the last quarter. World Investment Advisors acquired a new position in NewJersey Resources in the 4th quarter valued at approximately $1,924,000. Caitong International Asset Management Co. Ltd raised its stake in shares of NewJersey Resources by 732.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,806 shares of the utilities provider’s stock valued at $83,000 after acquiring an additional 1,589 shares during the last quarter. MidFirst Bank bought a new position in shares of NewJersey Resources during the fourth quarter valued at $333,000. Finally, DGS Capital Management LLC acquired a new position in shares of NewJersey Resources during the fourth quarter worth $224,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

NewJersey Resources Stock Performance

Shares of NJR opened at $57.94 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.80 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $5.85 billion, a P/E ratio of 17.19 and a beta of 0.50. The firm’s fifty day simple moving average is $56.08 and its two-hundred day simple moving average is $53.49. NewJersey Resources Corporation has a 12 month low of $43.46 and a 12 month high of $58.57.

NewJersey Resources (NYSE:NJR) last posted its quarterly earnings data on Monday, May 4th. The utilities provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.31. The firm had revenue of $939.40 million during the quarter, compared to analyst estimates of $849.95 million. NewJersey Resources had a return on equity of 14.58% and a net margin of 15.67%.The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the company posted $1.78 EPS. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. As a group, analysts predict that NewJersey Resources Corporation will post 3.57 EPS for the current year.

NewJersey Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th were paid a dividend of $0.475 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.90 annualized dividend and a yield of 3.3%. NewJersey Resources’s dividend payout ratio (DPR) is currently 56.38%.

Insiders Place Their Bets

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 3,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $55.84, for a total transaction of $167,520.00. Following the transaction, the chief operating officer directly owned 35,202 shares in the company, valued at approximately $1,965,679.68. This represents a 7.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jane M. Kenny sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $56.10, for a total transaction of $448,800.00. Following the sale, the director directly owned 21,998 shares of the company’s stock, valued at approximately $1,234,087.80. This trade represents a 26.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 12,150 shares of company stock worth $682,261. 0.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NJR shares. Argus set a $63.00 price objective on shares of NewJersey Resources in a research note on Wednesday, May 20th. Weiss Ratings raised NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. Mizuho upped their price target on NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, April 21st. Finally, Wells Fargo & Company assumed coverage on NewJersey Resources in a research note on Tuesday, May 12th. They issued an “overweight” rating and a $63.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $58.17.

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.