29,200 Shares in NewJersey Resources Corporation $NJR Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new stake in NewJersey Resources Corporation (NYSE:NJR) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 29,200 shares of the utilities provider’s stock, valued at approximately $1,604,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NJR. Measured Wealth Private Client Group LLC acquired a new stake in NewJersey Resources during the 3rd quarter worth approximately $28,000. Torren Management LLC purchased a new stake in shares of NewJersey Resources during the fourth quarter worth approximately $35,000. Smartleaf Asset Management LLC lifted its holdings in shares of NewJersey Resources by 118.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 933 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 505 shares during the period. CENTRAL TRUST Co lifted its holdings in shares of NewJersey Resources by 172.7% during the first quarter. CENTRAL TRUST Co now owns 818 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 518 shares during the period. Finally, Neo Ivy Capital Management purchased a new position in NewJersey Resources in the 3rd quarter valued at $48,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, Director Jane M. Kenny sold 8,000 shares of NewJersey Resources stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $56.10, for a total transaction of $448,800.00. Following the completion of the sale, the director directly owned 21,998 shares in the company, valued at approximately $1,234,087.80. This trade represents a 26.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher T. D’antuono sold 1,150 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $57.34, for a total value of $65,941.00. Following the sale, the insider directly owned 2,985 shares in the company, valued at $171,159.90. This trade represents a 27.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 12,150 shares of company stock valued at $682,261. Corporate insiders own 0.70% of the company’s stock.

NewJersey Resources Trading Up 0.4%

NYSE:NJR opened at $56.25 on Thursday. NewJersey Resources Corporation has a 1 year low of $43.46 and a 1 year high of $58.57. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.80 and a current ratio of 0.94. The stock has a fifty day moving average price of $55.89 and a two-hundred day moving average price of $53.04. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 16.69 and a beta of 0.50.

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

NewJersey Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th were issued a dividend of $0.475 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.90 dividend on an annualized basis and a yield of 3.4%. NewJersey Resources’s payout ratio is currently 56.38%.

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.