Aventail Capital Group LP Cuts Stock Position in NewJersey Resources Corporation $NJR

Key Points

• Aventail Capital Group LP cut its stake in NewJersey Resources by 40.3% in the fourth quarter, leaving it with 61,814 shares valued at about $2.85 million.
• The company reported strong quarterly earnings, posting $2.20 EPS versus $1.89 expected and revenue of $939.4 million, while also raising FY2026 guidance to $3.48-$3.63 EPS.
• NewJersey Resources declared a quarterly dividend of $0.475 per share, equal to an annualized yield of about 3.4%, as analysts maintained a consensus Buy rating with an average price target of $58.17.

Aventail Capital Group LP lessened its holdings in NewJersey Resources Corporation (NYSE:NJR - Free Report) by 40.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 61,814 shares of the utilities provider's stock after selling 41,642 shares during the period. Aventail Capital Group LP owned 0.06% of NewJersey Resources worth $2,851,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of NewJersey Resources during the fourth quarter valued at about $60,075,000. Millennium Management LLC grew its position in NewJersey Resources by 895.7% in the third quarter. Millennium Management LLC now owns 677,352 shares of the utilities provider's stock worth $32,614,000 after acquiring an additional 609,323 shares in the last quarter. Dimensional Fund Advisors LP grew its position in NewJersey Resources by 10.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,934,165 shares of the utilities provider's stock worth $181,446,000 after acquiring an additional 367,844 shares in the last quarter. Qube Research & Technologies Ltd grew its position in NewJersey Resources by 77.1% in the second quarter. Qube Research & Technologies Ltd now owns 730,300 shares of the utilities provider's stock worth $32,732,000 after acquiring an additional 317,932 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in NewJersey Resources in the third quarter worth about $13,351,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insiders Place Their Bets

In other news, insider Christopher T. D'antuono sold 1,150 shares of the business's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $57.34, for a total transaction of $65,941.00. Following the sale, the insider directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Patrick J. Migliaccio sold 3,000 shares of the company's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $55.84, for a total transaction of $167,520.00. Following the completion of the sale, the chief operating officer directly owned 35,202 shares in the company, valued at approximately $1,965,679.68. The trade was a 7.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 12,150 shares of company stock valued at $682,261. 0.70% of the stock is currently owned by insiders.

NewJersey Resources Stock Up 0.9%

Shares of NYSE NJR opened at $55.23 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.80. The company has a market cap of $5.57 billion, a P/E ratio of 16.39 and a beta of 0.50. NewJersey Resources Corporation has a 1 year low of $43.46 and a 1 year high of $58.57. The firm has a 50-day simple moving average of $55.94 and a two-hundred day simple moving average of $52.32.

NewJersey Resources (NYSE:NJR - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The utilities provider reported $2.20 EPS for the quarter, beating the consensus estimate of $1.89 by $0.31. The firm had revenue of $939.40 million for the quarter, compared to analyst estimates of $849.95 million. NewJersey Resources had a return on equity of 14.58% and a net margin of 15.67%.The business's revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.78 earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. Research analysts anticipate that NewJersey Resources Corporation will post 3.57 earnings per share for the current year.

NewJersey Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th will be issued a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, June 10th. NewJersey Resources's payout ratio is currently 56.38%.

Analysts Set New Price Targets

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

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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