First Trust Advisors LP Sells 42,083 Shares of NewJersey Resources Corporation $NJR

First Trust Advisors LP lowered its stake in shares of NewJersey Resources Corporation (NYSE:NJR) by 3.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,047,023 shares of the utilities provider’s stock after selling 42,083 shares during the period. First Trust Advisors LP’s holdings in NewJersey Resources were worth $46,928,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in NJR. Dimensional Fund Advisors LP grew its position in shares of NewJersey Resources by 3.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,424,736 shares of the utilities provider’s stock valued at $168,019,000 after acquiring an additional 115,570 shares during the period. Geode Capital Management LLC grew its holdings in NewJersey Resources by 0.7% during the second quarter. Geode Capital Management LLC now owns 2,545,394 shares of the utilities provider’s stock valued at $114,097,000 after purchasing an additional 16,954 shares during the period. Charles Schwab Investment Management Inc. increased its position in NewJersey Resources by 0.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,274,588 shares of the utilities provider’s stock worth $62,531,000 after buying an additional 7,132 shares during the last quarter. Norges Bank bought a new stake in shares of NewJersey Resources in the second quarter valued at $52,671,000. Finally, ProShare Advisors LLC lifted its position in shares of NewJersey Resources by 0.4% during the 2nd quarter. ProShare Advisors LLC now owns 831,309 shares of the utilities provider’s stock valued at $37,259,000 after buying an additional 3,588 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NJR shares. Raymond James Financial reiterated an “outperform” rating and issued a $53.00 target price on shares of NewJersey Resources in a research note on Thursday, November 20th. Wall Street Zen lowered shares of NewJersey Resources from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of NewJersey Resources in a research report on Thursday. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $51.86.

NewJersey Resources Trading Down 1.2%

NYSE NJR opened at $44.56 on Tuesday. The company has a quick ratio of 0.40, a current ratio of 0.73 and a debt-to-equity ratio of 1.36. The stock’s 50-day simple moving average is $46.25 and its two-hundred day simple moving average is $46.16. NewJersey Resources Corporation has a twelve month low of $43.46 and a twelve month high of $50.76. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 13.38 and a beta of 0.61.

NewJersey Resources (NYSE:NJR) last announced its quarterly earnings data on Wednesday, November 19th. The utilities provider reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. NewJersey Resources had a net margin of 16.48% and a return on equity of 13.73%. The firm had revenue of $336.08 million during the quarter, compared to analyst estimates of $307.30 million. During the same period in the previous year, the business posted $0.89 EPS. The business’s quarterly revenue was down 15.1% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.030-3.180 EPS. Research analysts forecast that NewJersey Resources Corporation will post 3.15 EPS for the current fiscal year.

NewJersey Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 12th will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Friday, December 12th. NewJersey Resources’s payout ratio is currently 57.06%.

NewJersey Resources Company Profile

New Jersey Resources Corporation, an energy services holding company, distributes natural gas. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Storage and Transportation. The Natural Gas Distribution segment offers regulated natural gas utility services to approximately 576,000 customers in Burlington, Middlesex, Monmouth, Morris, Ocean, and Sussex counties in New Jersey; provides capacity and storage management services; and participates in the off-system sales and capacity release markets.