Alchemi Wealth LLC Takes Position in NewJersey Resources Corporation $NJR

Alchemi Wealth LLC purchased a new position in shares of NewJersey Resources Corporation (NYSE:NJR - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 21,514 shares of the utilities provider's stock, valued at approximately $992,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Federation des caisses Desjardins du Quebec increased its stake in shares of NewJersey Resources by 23.0% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 19,626 shares of the utilities provider's stock valued at $905,000 after acquiring an additional 3,669 shares during the last quarter. Orion Porfolio Solutions LLC increased its stake in shares of NewJersey Resources by 8.6% in the 4th quarter. Orion Porfolio Solutions LLC now owns 7,614 shares of the utilities provider's stock valued at $351,000 after acquiring an additional 600 shares during the last quarter. Cibc World Markets Corp bought a new stake in shares of NewJersey Resources in the 4th quarter valued at about $308,000. Dimensional Fund Advisors LP increased its stake in shares of NewJersey Resources by 10.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,934,165 shares of the utilities provider's stock valued at $181,446,000 after acquiring an additional 367,844 shares during the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of NewJersey Resources in the 4th quarter valued at about $842,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Weiss Ratings raised NewJersey Resources from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 27th. Argus set a $63.00 target price on NewJersey Resources in a research note on Wednesday, May 20th. Mizuho increased their target price on NewJersey Resources from $54.00 to $61.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 21st. Finally, Wells Fargo & Company began coverage on NewJersey Resources in a research note on Tuesday, May 12th. They set an "overweight" rating and a $63.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $58.17.

Insider Buying and Selling

In related news, insider Christopher T. D'antuono sold 1,150 shares of the business's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $57.34, for a total value of $65,941.00. Following the completion of the transaction, the insider owned 2,985 shares of the company's stock, valued at $171,159.90. The trade was a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jane M. Kenny sold 8,000 shares of the business's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $56.10, for a total value of $448,800.00. Following the completion of the transaction, the director directly owned 21,998 shares of the company's stock, valued at approximately $1,234,087.80. This trade represents a 26.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 23,704 shares of company stock valued at $1,307,389 in the last 90 days. 0.70% of the stock is currently owned by corporate insiders.

NewJersey Resources Price Performance

NYSE:NJR opened at $55.07 on Friday. NewJersey Resources Corporation has a 1-year low of $43.46 and a 1-year high of $58.57. The company has a current ratio of 0.94, a quick ratio of 0.80 and a debt-to-equity ratio of 1.24. The firm has a fifty day simple moving average of $56.01 and a 200 day simple moving average of $52.15. The stock has a market capitalization of $5.56 billion, a PE ratio of 16.34 and a beta of 0.50.

NewJersey Resources (NYSE:NJR - Get Free Report) last released its earnings results on Monday, May 4th. The utilities provider reported $2.20 earnings per share for the quarter, beating 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 business had revenue of $939.40 million during the quarter, compared to analysts' expectations of $849.95 million. During the same period last year, the business earned $1.78 earnings per share. The firm'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. On average, research analysts expect that NewJersey Resources Corporation will post 3.52 EPS for the current fiscal year.

NewJersey Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th will be given a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, June 10th. NewJersey Resources's payout ratio is presently 56.38%.

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.

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