Victory Capital Management Inc. Purchases 247,310 Shares of NewJersey Resources Corporation $NJR

Key Points

• Victory Capital Management boosted its stake in NewJersey Resources by 68.2%, buying 247,310 shares to hold 610,166 shares (about 0.61% of the company) valued at roughly $29.38 million.
• NewJersey Resources beat quarterly estimates with $1.17 EPS (vs. $0.95 expected) and $604.85M revenue (up 23.8% year-over-year), set FY2026 guidance of 3.28–3.43 EPS, and declared a quarterly dividend of $0.475 ($1.90 annual, ~3.5% yield; ex-dividend March 11).

Victory Capital Management Inc. lifted its holdings in NewJersey Resources Corporation (NYSE:NJR - Free Report) by 68.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 610,166 shares of the utilities provider's stock after buying an additional 247,310 shares during the period. Victory Capital Management Inc. owned approximately 0.61% of NewJersey Resources worth $29,379,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. US Bancorp DE boosted its position in NewJersey Resources by 7.9% in the third quarter. US Bancorp DE now owns 3,127 shares of the utilities provider's stock worth $151,000 after purchasing an additional 228 shares during the last quarter. Bessemer Group Inc. increased its position in shares of NewJersey Resources by 60.1% during the 3rd quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 230 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of NewJersey Resources by 0.8% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 31,318 shares of the utilities provider's stock worth $1,404,000 after purchasing an additional 236 shares during the period. Horizon Investment Services LLC raised its stake in shares of NewJersey Resources by 4.7% during the 3rd quarter. Horizon Investment Services LLC now owns 6,057 shares of the utilities provider's stock worth $292,000 after purchasing an additional 273 shares during the period. Finally, UMB Bank n.a. boosted its holdings in shares of NewJersey Resources by 19.7% in the 3rd quarter. UMB Bank n.a. now owns 1,680 shares of the utilities provider's stock worth $81,000 after buying an additional 277 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

NewJersey Resources Price Performance

NYSE NJR opened at $54.49 on Monday. The company has a quick ratio of 0.58, a current ratio of 0.83 and a debt-to-equity ratio of 1.32. The company has a market cap of $5.50 billion, a PE ratio of 16.87 and a beta of 0.57. NewJersey Resources Corporation has a 52 week low of $43.46 and a 52 week high of $55.49. The firm's 50-day simple moving average is $50.34 and its two-hundred day simple moving average is $47.85.

NewJersey Resources (NYSE:NJR - Get Free Report) last issued its earnings results on Monday, February 2nd. The utilities provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.22. NewJersey Resources had a net margin of 15.18% and a return on equity of 13.06%. The business had revenue of $604.85 million for the quarter, compared to analysts' expectations of $546.90 million. During the same quarter in the previous year, the firm posted $1.29 EPS. The business's revenue for the quarter was up 23.8% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.280-3.43 EPS. Research analysts predict that NewJersey Resources Corporation will post 3.15 earnings per share for the current year.

NewJersey Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th 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 is Wednesday, March 11th. NewJersey Resources's dividend payout ratio (DPR) is 58.82%.

Insider Activity at NewJersey Resources

In related news, COO Patrick J. Migliaccio sold 4,017 shares of the business's stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $46.46, for a total transaction of $186,629.82. Following the completion of the transaction, the chief operating officer owned 38,065 shares of the company's stock, valued at approximately $1,768,499.90. The trade was a 9.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on NJR. Williams Trading set a $55.00 price objective on shares of NewJersey Resources in a report on Tuesday, February 3rd. Weiss Ratings upgraded shares of NewJersey Resources from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, February 13th. Raymond James Financial reissued an "outperform" rating on shares of NewJersey Resources in a research report on Tuesday, February 3rd. Mizuho raised shares of NewJersey Resources from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $51.00 to $54.00 in a report on Wednesday, December 17th. Finally, Wall Street Zen upgraded NewJersey Resources from a "sell" rating to a "hold" rating in a research note on Saturday, February 7th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.00.

About NewJersey Resources

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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