NewJersey Resources Corporation $NJR Stock Position Lowered by Inspire Investing LLC

Key Points

• Inspire Investing cut its NewJersey Resources stake by 76% in the third quarter, leaving it with 12,558 shares valued at approximately $635,000. Institutional investors collectively own 70.98% of NJR.
• Analysts remain broadly positive, with an average rating of “Buy” and a consensus price target of $62.50, compared with the stock’s reported opening price of $53.09.
• NJR exceeded quarterly earnings expectations, reporting $0.11 in EPS versus a $0.06 consensus estimate, while increasing its quarterly dividend to $0.50, or $2.00 annually, for a 3.8% yield.

Inspire Investing LLC reduced its holdings in NewJersey Resources Corporation (NYSE:NJR - Free Report) by 76.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,558 shares of the utilities provider's stock after selling 39,863 shares during the period. Inspire Investing LLC's holdings in NewJersey Resources were worth $635,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of NJR. BlackRock Inc. acquired a new stake in shares of NewJersey Resources in the second quarter valued at approximately $1,008,340,000. State Street Corp boosted its stake in NewJersey Resources by 6.8% during the second quarter. State Street Corp now owns 5,418,885 shares of the utilities provider's stock worth $306,134,000 after buying an additional 343,537 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in NewJersey Resources by 5.3% during the first quarter. Dimensional Fund Advisors LP now owns 4,141,330 shares of the utilities provider's stock worth $227,447,000 after buying an additional 207,165 shares during the last quarter. Energy Income Partners LLC purchased a new stake in NewJersey Resources in the 2nd quarter valued at $78,592,000. Finally, Bank of New York Mellon Corp purchased a new stake in NewJersey Resources in the 2nd quarter valued at $57,722,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NJR has been the subject of a number of analyst reports. New Street Research set a $68.00 price objective on shares of NewJersey Resources in a report on Monday, September 14th. JPMorgan Chase & Co. reduced their target price on shares of NewJersey Resources from $64.00 to $63.00 and set an "overweight" rating on the stock in a research note on Friday, September 11th. Weiss Ratings downgraded shares of NewJersey Resources from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. Huntington initiated coverage on shares of NewJersey Resources in a research report on Monday, September 14th. They set an "outperform" rating and a $68.00 price target on the stock. Finally, Raymond James Financial set a $61.00 price objective on NewJersey Resources in a report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $62.50.

NewJersey Resources Trading Up 0.6%

NJR opened at $53.09 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.66 and a debt-to-equity ratio of 1.21. The firm has a market cap of $5.39 billion, a P/E ratio of 14.50, a P/E/G ratio of 3.08 and a beta of 0.48. The business has a fifty day simple moving average of $52.61 and a 200-day simple moving average of $54.34. NewJersey Resources Corporation has a 52 week low of $43.46 and a 52 week high of $60.86.

NewJersey Resources (NYSE:NJR - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. The business had revenue of $349.18 million for the quarter, compared to analysts' expectations of $342.13 million. NewJersey Resources had a return on equity of 14.46% and a net margin of 16.42%. The company's revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.15) earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. On average, equities analysts expect that NewJersey Resources Corporation will post 3.59 earnings per share for the current year.

NewJersey Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, September 24th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Thursday, September 24th. This is a boost from NewJersey Resources's previous quarterly dividend of $0.4750. NewJersey Resources's dividend payout ratio (DPR) is 55.25%.

Insider Activity at NewJersey Resources

In other news, COO Patrick Migliaccio sold 3,000 shares of the business's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $55.63, for a total transaction of $166,890.00. Following the completion of the transaction, the chief operating officer directly owned 32,202 shares of the company's stock, valued at approximately $1,791,397.26. The trade was a 8.52% 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. Corporate insiders own 0.70% of the company's stock.

NewJersey Resources Profile

New Jersey Resources Corporation NYSE: NJR is an energy services holding company headquartered in New Jersey. Through its subsidiaries, the company provides natural gas distribution, energy management, storage and transportation, and clean energy services to residential, commercial, industrial and institutional customers.

New Jersey Natural Gas, the company's principal regulated utility, distributes natural gas to customers in central and northern New Jersey. Its energy services operations manage natural gas supplies and provide related products and services, while its storage and transportation activities support the movement and availability of natural gas through regional infrastructure.

The company also invests in renewable energy and other lower-carbon initiatives, including solar generation and clean energy solutions.

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