Massachusetts Financial Services Co. MA Trims Holdings in NewJersey Resources Corporation $NJR

Massachusetts Financial Services Co. MA lowered its position in shares of NewJersey Resources Corporation (NYSE:NJR) by 3.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 677,844 shares of the utilities provider’s stock after selling 24,196 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.67% of NewJersey Resources worth $32,638,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NJR. denkapparat Operations GmbH purchased a new stake in NewJersey Resources in the 2nd quarter worth $350,000. SG Americas Securities LLC lifted its position in shares of NewJersey Resources by 127.1% in the second quarter. SG Americas Securities LLC now owns 19,637 shares of the utilities provider’s stock valued at $880,000 after acquiring an additional 10,990 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of NewJersey Resources in the third quarter worth about $1,136,000. Squarepoint Ops LLC grew its position in shares of NewJersey Resources by 348.3% during the second quarter. Squarepoint Ops LLC now owns 123,816 shares of the utilities provider’s stock worth $5,549,000 after purchasing an additional 96,195 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in NewJersey Resources by 101.3% during the 2nd quarter. Hsbc Holdings PLC now owns 212,305 shares of the utilities provider’s stock valued at $9,464,000 after purchasing an additional 106,856 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NJR shares. Mizuho upgraded NewJersey Resources from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $51.00 to $54.00 in a research note on Wednesday, December 17th. Weiss Ratings restated a “hold (c+)” rating on shares of NewJersey Resources in a research report on Monday, December 29th. Raymond James Financial reiterated an “outperform” rating and issued a $53.00 price target on shares of NewJersey Resources in a report on Thursday, November 20th. Wall Street Zen cut shares of NewJersey Resources from a “hold” rating to a “sell” rating in a research note on Sunday, December 28th. Finally, New Street Research set a $54.00 price objective on NewJersey Resources in a research report on Wednesday, December 17th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $52.86.

NewJersey Resources Stock Up 0.8%

Shares of NYSE NJR opened at $48.34 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.40 and a debt-to-equity ratio of 1.36. NewJersey Resources Corporation has a 12-month low of $43.46 and a 12-month high of $50.76. The firm’s 50-day moving average price is $46.70 and its 200-day moving average price is $46.51. The stock has a market capitalization of $4.87 billion, a price-to-earnings ratio of 14.52 and a beta of 0.60.

NewJersey Resources (NYSE:NJR) last issued its quarterly earnings data on Wednesday, November 19th. The utilities provider reported $0.16 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $307.30 million. During the same period in the previous year, the firm posted $0.89 earnings per share. The firm’s revenue for the quarter was down 15.1% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.030-3.180 EPS. On average, equities research analysts anticipate that NewJersey Resources Corporation will post 3.15 EPS for the current fiscal year.

NewJersey Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors 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 yield of 3.9%. The ex-dividend date is Wednesday, March 11th. NewJersey Resources’s dividend payout ratio is presently 57.06%.

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 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

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.