Intech Investment Management LLC Cuts Stock Position in NewJersey Resources Corporation $NJR

Intech Investment Management LLC lessened its stake in shares of NewJersey Resources Corporation (NYSE:NJR) by 23.3% in the 3rd quarter, Holdings Channel reports. The firm owned 47,389 shares of the utilities provider’s stock after selling 14,436 shares during the period. Intech Investment Management LLC’s holdings in NewJersey Resources were worth $2,282,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its stake in shares of NewJersey Resources by 60.1% in the third quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock worth $29,000 after buying an additional 230 shares in the last quarter. Tradewinds Capital Management LLC purchased a new stake in shares of NewJersey Resources in the third quarter valued at approximately $30,000. EverSource Wealth Advisors LLC grew its holdings in NewJersey Resources by 259.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,203 shares of the utilities provider’s stock valued at $54,000 after buying an additional 868 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in NewJersey Resources during the second quarter worth about $54,000. Finally, UMB Bank n.a. raised its position in shares of NewJersey Resources by 19.7% during the 3rd quarter. UMB Bank n.a. now owns 1,680 shares of the utilities provider’s stock valued at $81,000 after buying an additional 277 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insiders Place Their Bets

In related news, COO Patrick J. Migliaccio sold 4,017 shares of the stock in a transaction 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 completion of the sale, the chief operating officer owned 38,065 shares in the company, valued at $1,768,499.90. This represents a 9.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on NJR shares. Argus raised shares of NewJersey Resources to a “strong-buy” rating in a research note on Thursday, January 22nd. Weiss Ratings upgraded NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 13th. Raymond James Financial restated an “outperform” rating on shares of NewJersey Resources in a research note on Tuesday, February 3rd. Williams Trading set a $55.00 price target on shares of NewJersey Resources in a research note on Tuesday, February 3rd. Finally, Wall Street Zen raised shares of NewJersey Resources from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, NewJersey Resources has an average rating of “Moderate Buy” and a consensus price target of $53.00.

NewJersey Resources Price Performance

Shares of NYSE:NJR opened at $55.25 on Wednesday. NewJersey Resources Corporation has a 12 month low of $43.46 and a 12 month high of $55.32. The firm has a market capitalization of $5.57 billion, a P/E ratio of 17.11 and a beta of 0.57. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.83 and a quick ratio of 0.58. The company’s fifty day moving average price is $49.83 and its 200 day moving average price is $47.68.

NewJersey Resources (NYSE:NJR) last released its quarterly earnings results 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. NewJersey Resources had a return on equity of 13.06% and a net margin of 15.18%.The firm had revenue of $604.85 million for the quarter, compared to the consensus estimate of $546.90 million. During the same quarter last year, the business posted $1.29 EPS. The firm’s quarterly revenue was up 23.8% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.280-3.43 EPS. As a group, sell-side analysts predict that NewJersey Resources Corporation will post 3.15 earnings per share for the current fiscal year.

NewJersey Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 11th will be given a $0.475 dividend. The ex-dividend date is Wednesday, March 11th. This represents a $1.90 annualized dividend and a yield of 3.4%. NewJersey Resources’s dividend payout ratio is 58.82%.

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.