Thrivent Financial for Lutherans Purchases 47,635 Shares of NewJersey Resources Corporation $NJR

Thrivent Financial for Lutherans grew its position in shares of NewJersey Resources Corporation (NYSE:NJR) by 200.1% in the third quarter, Holdings Channel reports. The fund owned 71,444 shares of the utilities provider’s stock after buying an additional 47,635 shares during the quarter. Thrivent Financial for Lutherans’ holdings in NewJersey Resources were worth $3,440,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Tradewinds Capital Management LLC purchased a new stake in NewJersey Resources during the third quarter valued at $30,000. Cullen Frost Bankers Inc. increased its holdings in shares of NewJersey Resources by 153.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 754 shares of the utilities provider’s stock worth $34,000 after buying an additional 456 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of NewJersey Resources by 259.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,203 shares of the utilities provider’s stock valued at $54,000 after buying an additional 868 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of NewJersey Resources in the 2nd quarter valued at about $54,000. Finally, IFP Advisors Inc grew its position in NewJersey Resources by 23.1% in the second quarter. IFP Advisors Inc now owns 1,504 shares of the utilities provider’s stock worth $67,000 after acquiring an additional 282 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling 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 stock was sold at an average price of $46.46, for a total value of $186,629.82. Following the completion of the sale, the chief operating officer owned 38,065 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.70% of the company’s stock.

NewJersey Resources Stock Performance

Shares of NewJersey Resources stock opened at $52.45 on Monday. NewJersey Resources Corporation has a 52 week low of $43.46 and a 52 week high of $53.65. The company has a market capitalization of $5.29 billion, a PE ratio of 16.24 and a beta of 0.60. The stock’s fifty day moving average is $47.28 and its two-hundred day moving average is $46.84. The company has a quick ratio of 0.58, a current ratio of 0.83 and a debt-to-equity ratio of 1.32.

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

NewJersey Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th will be paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Wednesday, March 11th. NewJersey Resources’s payout ratio is currently 58.82%.

Analyst Ratings Changes

A number of brokerages have issued reports on NJR. Mizuho upgraded NewJersey Resources from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $51.00 to $54.00 in a research report on Wednesday, December 17th. New Street Research set a $54.00 target price on NewJersey Resources in a research report on Wednesday, December 17th. Williams Trading set a $55.00 price target on NewJersey Resources in a research report on Tuesday, February 3rd. Argus upgraded shares of NewJersey Resources to a “strong-buy” rating in a research report on Thursday, January 22nd. Finally, Wall Street Zen raised shares of NewJersey Resources from a “sell” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.