Empirical Asset Management LLC Boosts Holdings in NewJersey Resources Corporation $NJR

Empirical Asset Management LLC lifted its holdings in NewJersey Resources Corporation (NYSE:NJR) by 80.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 30,246 shares of the utilities provider’s stock after acquiring an additional 13,530 shares during the quarter. Empirical Asset Management LLC’s holdings in NewJersey Resources were worth $1,456,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Geode Capital Management LLC raised its position in NewJersey Resources by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 2,545,394 shares of the utilities provider’s stock worth $114,097,000 after purchasing an additional 16,954 shares during the period. Norges Bank bought a new position in shares of NewJersey Resources during the second quarter valued at about $52,671,000. ProShare Advisors LLC increased its holdings in shares of NewJersey Resources by 10.3% in the third quarter. ProShare Advisors LLC now owns 916,606 shares of the utilities provider’s stock worth $44,135,000 after buying an additional 85,297 shares during the period. Energy Income Partners LLC lifted its stake in shares of NewJersey Resources by 145.7% in the 2nd quarter. Energy Income Partners LLC now owns 798,661 shares of the utilities provider’s stock valued at $35,796,000 after acquiring an additional 473,664 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in shares of NewJersey Resources by 77.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 730,300 shares of the utilities provider’s stock valued at $32,732,000 after acquiring an additional 317,932 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NJR shares. Weiss Ratings upgraded NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 13th. New Street Research set a $54.00 price objective on NewJersey Resources in a research note on Wednesday, December 17th. Williams Trading set a $55.00 target price on shares of NewJersey Resources in a research note on Tuesday, February 3rd. Raymond James Financial reiterated an “outperform” rating on shares of NewJersey Resources in a report on Tuesday, February 3rd. Finally, Argus raised shares of NewJersey Resources to a “strong-buy” rating in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $53.00.

NewJersey Resources Stock Performance

NewJersey Resources stock opened at $53.66 on Wednesday. NewJersey Resources Corporation has a fifty-two week low of $43.46 and a fifty-two week high of $54.70. The stock’s 50 day simple moving average is $49.09 and its two-hundred day simple moving average is $47.44. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.58 and a current ratio of 0.83. The stock has a market cap of $5.41 billion, a price-to-earnings ratio of 16.61 and a beta of 0.60.

NewJersey Resources (NYSE:NJR) last released its earnings results on Monday, February 2nd. The utilities provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. NewJersey Resources had a return on equity of 13.06% and a net margin of 15.18%.The company had revenue of $604.85 million during the quarter, compared to analysts’ expectations of $546.90 million. During the same quarter last year, the business posted $1.29 EPS. The firm’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. As a group, analysts expect that NewJersey Resources Corporation will post 3.15 earnings per share for the current fiscal year.

NewJersey Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th will be issued a dividend of $0.475 per share. 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 payout ratio is 58.82%.

Insider Buying and Selling at NewJersey Resources

In other news, COO Patrick J. Migliaccio sold 4,017 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $46.46, for a total value of $186,629.82. Following the sale, the chief operating officer directly owned 38,065 shares of the company’s stock, valued at $1,768,499.90. This represents a 9.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by corporate insiders.

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.