Intech Investment Management LLC Reduces Stock Holdings in NewJersey Resources Corporation $NJR

Intech Investment Management LLC trimmed its holdings in shares of NewJersey Resources Corporation (NYSE:NJR) by 23.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,389 shares of the utilities provider’s stock after selling 14,436 shares during the quarter. Intech Investment Management LLC’s holdings in NewJersey Resources were worth $2,282,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Bessemer Group Inc. boosted its position 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 purchasing an additional 230 shares during the period. Tradewinds Capital Management LLC purchased a new stake in NewJersey Resources in the 3rd quarter worth $30,000. EverSource Wealth Advisors LLC lifted its position in shares of NewJersey Resources by 259.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,203 shares of the utilities provider’s stock worth $54,000 after buying an additional 868 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of NewJersey Resources during the 2nd quarter valued at approximately $54,000. Finally, UMB Bank n.a. lifted its position in NewJersey Resources by 19.7% during the third quarter. UMB Bank n.a. now owns 1,680 shares of the utilities provider’s stock valued at $81,000 after purchasing an additional 277 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

NewJersey Resources Trading Up 1.4%

NewJersey Resources stock opened at $55.25 on Wednesday. The company has a quick ratio of 0.58, a current ratio of 0.83 and a debt-to-equity ratio of 1.32. NewJersey Resources Corporation has a 52 week low of $43.46 and a 52 week high of $55.32. The stock has a 50-day moving average price of $49.83 and a 200 day moving average price of $47.68. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of 17.11 and a beta of 0.57.

NewJersey Resources (NYSE:NJR) last released its quarterly earnings data on Monday, February 2nd. The utilities provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. NewJersey Resources had a net margin of 15.18% and a return on equity of 13.06%. The firm had revenue of $604.85 million for the quarter, compared to analyst estimates of $546.90 million. During the same quarter in the prior year, the business earned $1.29 earnings per share. The business’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. Sell-side analysts anticipate that NewJersey Resources Corporation will post 3.15 EPS for the current year.

NewJersey Resources Dividend Announcement

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

Analysts Set New Price Targets

NJR has been the subject of several analyst reports. New Street Research set a $54.00 price objective on NewJersey Resources in a research note on Wednesday, December 17th. Argus raised NewJersey Resources to a “strong-buy” rating in a research report on Thursday, January 22nd. Raymond James Financial reiterated an “outperform” rating on shares of NewJersey Resources in a research note on Tuesday, February 3rd. Williams Trading set a $55.00 target price on NewJersey Resources in a research note on Tuesday, February 3rd. Finally, Weiss Ratings upgraded shares of NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 13th. One 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.00.

Insider Transactions at NewJersey Resources

In related news, COO Patrick J. Migliaccio sold 4,017 shares of the firm’s 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 sale, the chief operating officer owned 38,065 shares in the company, valued at approximately $1,768,499.90. This trade represents a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.70% of the company’s stock.

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.