Norges Bank Invests $60.08 Million in NewJersey Resources Corporation $NJR

Key Points

• Norges Bank bought a new stake in NewJersey Resources in the fourth quarter, purchasing 1,302,576 shares worth about $60.1 million and representing roughly 1.29% of the company.
• NewJersey Resources reported strong quarterly results, with earnings per share of $2.20 versus the $1.89 estimate and revenue of $939.4 million, while also issuing FY 2026 EPS guidance of 3.48 to 3.63.
• The company declared a quarterly dividend of $0.475 per share, implying an annualized yield of about 3.4%; meanwhile, analysts remain generally positive with a consensus Buy rating and average target price of $58.17.

Norges Bank purchased a new position in shares of NewJersey Resources Corporation (NYSE:NJR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,302,576 shares of the utilities provider's stock, valued at approximately $60,075,000. Norges Bank owned about 1.29% of NewJersey Resources at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in shares of NewJersey Resources by 3.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,566,321 shares of the utilities provider's stock worth $171,717,000 after buying an additional 130,831 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of NewJersey Resources by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,629,373 shares of the utilities provider's stock worth $121,285,000 after buying an additional 10,448 shares during the last quarter. Northern Trust Corp increased its holdings in shares of NewJersey Resources by 1.1% during the 3rd quarter. Northern Trust Corp now owns 1,335,344 shares of the utilities provider's stock worth $64,297,000 after buying an additional 14,512 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of NewJersey Resources by 10.7% during the 3rd quarter. First Trust Advisors LP now owns 1,158,719 shares of the utilities provider's stock worth $55,792,000 after buying an additional 111,696 shares during the last quarter. Finally, Energy Income Partners LLC increased its holdings in shares of NewJersey Resources by 19.1% during the 3rd quarter. Energy Income Partners LLC now owns 951,527 shares of the utilities provider's stock worth $45,816,000 after buying an additional 152,866 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

NewJersey Resources Stock Down 0.1%

NewJersey Resources stock opened at $55.35 on Monday. NewJersey Resources Corporation has a fifty-two week low of $43.46 and a fifty-two week high of $58.57. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.80 and a current ratio of 0.94. The firm has a 50 day moving average price of $56.01 and a 200 day moving average price of $51.91. The company has a market capitalization of $5.59 billion, a PE ratio of 16.42 and a beta of 0.50.

NewJersey Resources (NYSE:NJR - Get Free Report) last posted 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 firm had revenue of $939.40 million during the quarter, compared to the consensus estimate of $849.95 million. During the same quarter last year, the firm earned $1.78 EPS. The firm's revenue for the quarter was up 2.9% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. Research analysts expect that NewJersey Resources Corporation will post 3.5 earnings per share for the current year.

NewJersey Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th will be given 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 dividend payout ratio (DPR) is currently 56.38%.

Insider Buying and Selling

In other NewJersey Resources news, insider Christopher T. D'antuono sold 1,150 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The shares were 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. This trade represents a 27.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Roberto Bel sold 6,105 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $55.10, for a total transaction of $336,385.50. Following the completion of the transaction, the chief financial officer directly owned 19,780 shares of the company's stock, valued at $1,089,878. This represents a 23.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 23,704 shares of company stock worth $1,307,389 over the last three months. 0.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NJR. Weiss Ratings upgraded shares of NewJersey Resources from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 27th. Argus set a $63.00 target price on shares of NewJersey Resources in a report on Wednesday, May 20th. Mizuho lifted their target price on shares of NewJersey Resources from $54.00 to $61.00 and gave the company an "outperform" rating in a report on Tuesday, April 21st. Finally, Wells Fargo & Company initiated coverage on shares of NewJersey Resources in a report on Tuesday, May 12th. They issued an "overweight" rating and a $63.00 target price for the company. Two 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 stock 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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