Aigen Investment Management LP Cuts Stake in NewJersey Resources Corporation $NJR

Aigen Investment Management LP decreased its holdings in NewJersey Resources Corporation (NYSE:NJR) by 53.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,696 shares of the utilities provider’s stock after selling 12,074 shares during the period. Aigen Investment Management LP’s holdings in NewJersey Resources were worth $493,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NJR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in NewJersey Resources by 6.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,363 shares of the utilities provider’s stock valued at $2,912,000 after buying an additional 3,422 shares during the period. NewEdge Advisors LLC boosted its position in NewJersey Resources by 65.7% during the 1st quarter. NewEdge Advisors LLC now owns 22,214 shares of the utilities provider’s stock valued at $1,090,000 after buying an additional 8,808 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in NewJersey Resources by 10.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 320,113 shares of the utilities provider’s stock valued at $15,705,000 after buying an additional 29,458 shares during the period. Jane Street Group LLC purchased a new stake in NewJersey Resources during the 1st quarter valued at $8,907,000. Finally, Invesco Ltd. boosted its position in NewJersey Resources by 14.4% during the 2nd quarter. Invesco Ltd. now owns 465,923 shares of the utilities provider’s stock valued at $20,883,000 after buying an additional 58,795 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

NewJersey Resources Trading Down 1.0%

NYSE:NJR opened at $54.52 on Tuesday. The company has a 50-day moving average price of $55.98 and a 200-day moving average price of $52.22. NewJersey Resources Corporation has a 12 month low of $43.46 and a 12 month high of $58.57. The company has a current ratio of 0.94, a quick ratio of 0.80 and a debt-to-equity ratio of 1.24. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 16.18 and a beta of 0.50.

NewJersey Resources (NYSE:NJR) last posted its earnings results 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 net margin of 15.67% and a return on equity of 14.58%. The firm had revenue of $939.40 million during the quarter, compared to analysts’ expectations of $849.95 million. During the same period last year, the company posted $1.78 EPS. The company’s quarterly revenue 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. Equities analysts predict that NewJersey Resources Corporation will post 3.52 EPS for the current year.

NewJersey Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, June 10th. NewJersey Resources’s dividend payout ratio (DPR) is currently 56.38%.

Analyst Ratings Changes

Several equities research analysts have weighed in on NJR shares. Wells Fargo & Company started coverage on shares of NewJersey Resources in a research report on Tuesday, May 12th. They set an “overweight” rating and a $63.00 price target for the company. Weiss Ratings raised shares of NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. Mizuho increased their price target on shares of 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 set a $63.00 price target on shares of NewJersey Resources in a research report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $58.17.

Insider Activity at NewJersey Resources

In other news, Director Jane M. Kenny sold 8,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $56.10, for a total value of $448,800.00. Following the completion of the sale, the director directly owned 21,998 shares of the company’s stock, valued at approximately $1,234,087.80. This trade represents a 26.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Richard Reich sold 5,449 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $52.99, for a total transaction of $288,742.51. Following the completion of the sale, the senior vice president directly owned 26,975 shares of the company’s stock, valued at approximately $1,429,405.25. This represents a 16.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 17,599 shares of company stock valued at $971,004. 0.70% of the stock is currently owned by company insiders.

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.