Horizon Investments LLC Has $100,000 Holdings in NewJersey Resources Corporation $NJR

Key Points

• Horizon Investments LLC sharply reduced its NewJersey Resources stake by 93.2% in Q4, ending with 2,163 shares valued at about $100,000.
• Several other institutional investors increased positions in NJR, and the stock is still 70.98% owned by institutions and hedge funds.
• NJR reported better-than-expected earnings with $2.20 EPS versus $1.89 expected, and it also declared a quarterly dividend of $0.475 per share for a 3.4% annual yield.

Horizon Investments LLC cut its stake in shares of NewJersey Resources Corporation (NYSE:NJR - Free Report) by 93.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,163 shares of the utilities provider's stock after selling 29,781 shares during the period. Horizon Investments LLC's holdings in NewJersey Resources were worth $100,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NJR. Millennium Management LLC grew its stake in shares of NewJersey Resources by 895.7% during the third quarter. Millennium Management LLC now owns 677,352 shares of the utilities provider's stock worth $32,614,000 after purchasing an additional 609,323 shares during the period. Qube Research & Technologies Ltd grew its stake 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 valued at $32,732,000 after acquiring an additional 317,932 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new position in NewJersey Resources in the third quarter valued at about $13,351,000. Victory Capital Management Inc. grew its stake in NewJersey Resources by 68.2% in the third quarter. Victory Capital Management Inc. now owns 610,166 shares of the utilities provider's stock valued at $29,379,000 after acquiring an additional 247,310 shares during the period. Finally, Two Sigma Investments LP grew its stake in NewJersey Resources by 104.0% in the third quarter. Two Sigma Investments LP now owns 392,264 shares of the utilities provider's stock valued at $18,888,000 after acquiring an additional 200,024 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Roberto Bel sold 6,105 shares of the company's stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $55.10, for a total transaction of $336,385.50. Following the sale, the chief financial officer owned 19,780 shares in the company, valued at approximately $1,089,878. This represents a 23.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Richard Reich sold 5,449 shares of the company's stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $52.99, for a total value of $288,742.51. Following the sale, the senior vice president owned 26,975 shares in the company, valued at $1,429,405.25. The trade was a 16.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

NJR has been the subject of a number of research analyst reports. Argus raised NewJersey Resources to a "strong-buy" rating in a research note on Thursday, January 22nd. Wall Street Zen raised NewJersey Resources from a "sell" rating to a "hold" rating in a research note on Saturday, February 7th. Mizuho boosted their target price on NewJersey Resources from $54.00 to $61.00 and gave the company an "outperform" rating in a research note on Tuesday, April 21st. Williams Trading set a $55.00 target price on NewJersey Resources in a research note on Tuesday, February 3rd. Finally, Raymond James Financial reissued an "outperform" rating on shares of NewJersey Resources in a research note on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $54.80.

NewJersey Resources Stock Performance

Shares of NewJersey Resources stock opened at $55.53 on Monday. The firm has a market cap of $5.60 billion, a price-to-earnings ratio of 16.48 and a beta of 0.51. The stock's 50-day moving average is $55.13 and its 200-day moving average is $50.33. NewJersey Resources Corporation has a one year low of $43.46 and a one year high of $57.85. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.80.

NewJersey Resources (NYSE:NJR - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The utilities provider reported $2.20 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.31. NewJersey Resources had a return on equity of 14.58% and a net margin of 15.67%.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 company posted $1.78 earnings per share. The company's quarterly revenue was up 2.9% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. Equities analysts predict that NewJersey Resources Corporation will post 3.5 earnings per share for the current fiscal year.

NewJersey Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th will be issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 3.4%. The ex-dividend date is Wednesday, June 10th. NewJersey Resources's dividend 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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