Inceptionr LLC Makes New Investment in NewJersey Resources Corporation $NJR

Inceptionr LLC purchased a new stake in NewJersey Resources Corporation (NYSE:NJR) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 11,872 shares of the utilities provider’s stock, valued at approximately $572,000.

Several other institutional investors also recently modified their holdings of NJR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of 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 worth $2,912,000 after purchasing an additional 3,422 shares during the period. NewEdge Advisors LLC boosted its holdings in NewJersey Resources by 65.7% during the first 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of NewJersey Resources by 10.1% in the 1st 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 acquiring an additional 29,458 shares in the last quarter. Jane Street Group LLC bought a new position in NewJersey Resources in the first quarter valued at approximately $8,907,000. Finally, Envestnet Asset Management Inc. increased its holdings in NewJersey Resources by 30.2% during the second quarter. Envestnet Asset Management Inc. now owns 97,450 shares of the utilities provider’s stock worth $4,368,000 after buying an additional 22,605 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on NJR. Weiss Ratings upgraded shares of NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 13th. Wall Street Zen raised NewJersey Resources from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Williams Trading set a $55.00 target price on NewJersey Resources in a report on Tuesday, February 3rd. Mizuho upgraded shares of NewJersey Resources from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $51.00 to $54.00 in a research report on Wednesday, December 17th. Finally, Argus raised NewJersey Resources to a “strong-buy” rating in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.00.

NewJersey Resources Stock Performance

NJR opened at $54.29 on Wednesday. NewJersey Resources Corporation has a 1-year low of $43.46 and a 1-year high of $55.49. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 16.81 and a beta of 0.57. The company’s fifty day moving average price is $50.66 and its two-hundred day moving average price is $47.95. The company has a current ratio of 0.83, a quick ratio of 0.58 and a debt-to-equity ratio of 1.32.

NewJersey Resources (NYSE:NJR) last released its quarterly earnings results on Monday, February 2nd. The utilities provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. The business had revenue of $604.85 million during 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%.NewJersey Resources’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.29 EPS. NewJersey Resources has set its FY 2026 guidance at 3.280-3.43 EPS. On average, analysts expect 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. Stockholders 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 dividend yield of 3.5%. NewJersey Resources’s payout ratio is 58.82%.

Insider Buying and Selling at NewJersey Resources

In other news, COO Patrick J. Migliaccio sold 4,017 shares of the stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $46.46, for a total value of $186,629.82. Following the sale, the chief operating officer directly owned 38,065 shares of the company’s stock, valued at approximately $1,768,499.90. This represents a 9.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.