World Investment Advisors Takes Position in NewJersey Resources Corporation $NJR

Key Points

• World Investment Advisors opened a new position in NewJersey Resources (NYSE:NJR), buying 41,715 shares valued at about $1.92 million in the fourth quarter.
• Recent insider activity was mostly selling, including shares sold by SVP Richard Reich and COO Patrick J. Migliaccio; insiders have sold 22,554 shares worth about $1.24 million over the last 90 days.
• NJR reported better-than-expected quarterly results with EPS of $2.20 versus $1.89 expected and revenue of $939.4 million, while also announcing a quarterly dividend of $0.475 per share.

World Investment Advisors purchased a new position in NewJersey Resources Corporation (NYSE:NJR - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 41,715 shares of the utilities provider's stock, valued at approximately $1,924,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its holdings in shares of NewJersey Resources by 200.1% during the third quarter. Thrivent Financial for Lutherans now owns 71,444 shares of the utilities provider's stock valued at $3,440,000 after acquiring an additional 47,635 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of NewJersey Resources by 603.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 81,289 shares of the utilities provider's stock valued at $3,784,000 after acquiring an additional 69,736 shares in the last quarter. Advisors Preferred LLC increased its holdings in shares of NewJersey Resources by 147.1% during the third quarter. Advisors Preferred LLC now owns 133,438 shares of the utilities provider's stock valued at $6,361,000 after acquiring an additional 79,436 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of NewJersey Resources by 68.2% during 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 in the last quarter. Finally, Aptus Capital Advisors LLC increased its holdings in shares of NewJersey Resources by 14.9% during the third quarter. Aptus Capital Advisors LLC now owns 200,427 shares of the utilities provider's stock valued at $9,651,000 after acquiring an additional 26,020 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Richard Reich sold 5,449 shares of NewJersey Resources stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $52.99, for a total transaction of $288,742.51. Following the sale, the senior vice president owned 26,975 shares of the company's stock, valued at approximately $1,429,405.25. This trade represents a 16.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Patrick J. Migliaccio sold 3,000 shares of the company's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $55.84, for a total value of $167,520.00. Following the completion of the transaction, the chief operating officer owned 35,202 shares of the company's stock, valued at $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. Insiders sold 22,554 shares of company stock worth $1,241,448 over the last ninety days. 0.70% of the stock is owned by corporate insiders.

NewJersey Resources Stock Down 0.9%

NYSE NJR opened at $57.25 on Friday. The stock's 50-day moving average price is $55.42 and its 200-day moving average price is $50.74. The company has a quick ratio of 0.80, a current ratio of 0.94 and a debt-to-equity ratio of 1.24. NewJersey Resources Corporation has a 52 week low of $43.46 and a 52 week high of $57.91. The company has a market capitalization of $5.78 billion, a P/E ratio of 16.99 and a beta of 0.51.

NewJersey Resources (NYSE:NJR - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The utilities provider reported $2.20 EPS for the quarter, topping the consensus estimate of $1.89 by $0.31. NewJersey Resources had a return on equity of 14.58% and a net margin of 15.67%.The firm had revenue of $939.40 million for the quarter, compared to the consensus estimate of $849.95 million. During the same quarter last year, the company earned $1.78 earnings per share. The business's revenue for the quarter 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. On average, equities research analysts predict that NewJersey Resources Corporation will post 3.5 earnings per share for the current year.

NewJersey Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th will be paid a $0.475 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.90 annualized dividend and a dividend yield of 3.3%. NewJersey Resources's dividend payout ratio (DPR) is 56.38%.

Wall Street Analysts Forecast Growth

NJR has been the subject of several analyst reports. Weiss Ratings restated a "buy (b-)" rating on shares of NewJersey Resources in a report on Wednesday. Wall Street Zen raised NewJersey Resources from a "sell" rating to a "hold" rating in a research report on Saturday, February 7th. Raymond James Financial reaffirmed an "outperform" rating on shares of NewJersey Resources in a research report on Tuesday, February 3rd. Mizuho increased their price objective on NewJersey Resources from $54.00 to $61.00 and gave the company an "outperform" rating in a research report on Tuesday, April 21st. Finally, Argus raised NewJersey Resources to a "strong-buy" rating in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $56.17.

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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