Castellan Group Makes New $3.66 Million Investment in NewJersey Resources Corporation $NJR

Castellan Group bought a new stake in shares of NewJersey Resources Corporation (NYSE:NJR) during the third quarter, Holdings Channel reports. The fund bought 75,992 shares of the utilities provider’s stock, valued at approximately $3,659,000. NewJersey Resources accounts for 0.5% of Castellan Group’s investment portfolio, making the stock its 10th largest holding.

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC increased 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 buying an additional 16,954 shares during the period. Norges Bank purchased a new position in shares of NewJersey Resources in the 2nd quarter valued at $52,671,000. ProShare Advisors LLC raised its position in shares of NewJersey Resources by 0.4% in the 2nd quarter. ProShare Advisors LLC now owns 831,309 shares of the utilities provider’s stock worth $37,259,000 after acquiring an additional 3,588 shares in the last quarter. Energy Income Partners LLC lifted its stake in shares of NewJersey Resources by 145.7% during the 2nd quarter. Energy Income Partners LLC now owns 798,661 shares of the utilities provider’s stock worth $35,796,000 after purchasing an additional 473,664 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its position in NewJersey Resources by 77.1% during the second quarter. Qube Research & Technologies Ltd now owns 730,300 shares of the utilities provider’s stock valued at $32,732,000 after purchasing an additional 317,932 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

NewJersey Resources Price Performance

NYSE NJR opened at $46.22 on Thursday. The stock’s fifty day moving average price is $46.22 and its 200 day moving average price is $46.33. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.73 and a quick ratio of 0.40. The company has a market cap of $4.66 billion, a price-to-earnings ratio of 13.88 and a beta of 0.60. NewJersey Resources Corporation has a 1 year low of $43.46 and a 1 year high of $50.76.

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

NewJersey Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Friday, December 12th were given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Friday, December 12th. NewJersey Resources’s dividend payout ratio (DPR) is currently 57.06%.

Insider Buying and Selling at NewJersey Resources

In other news, COO Patrick J. Migliaccio sold 4,017 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $46.46, for a total value 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 $1,768,499.90. The trade was a 9.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on NJR. Wall Street Zen lowered shares of NewJersey Resources from a “hold” rating to a “sell” rating in a research report on Sunday, December 28th. Mizuho raised shares of NewJersey Resources from a “neutral” rating to an “outperform” rating and increased their target price for the company from $51.00 to $54.00 in a research report on Wednesday, December 17th. New Street Research set a $54.00 price target on shares of NewJersey Resources in a report on Wednesday, December 17th. Raymond James Financial reaffirmed an “outperform” rating and set a $53.00 price target on shares of NewJersey Resources in a research report on Thursday, November 20th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of NewJersey Resources in a research report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $52.86.

NewJersey Resources 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.