NewJersey Resources Corporation $NJR Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its holdings in shares of NewJersey Resources Corporation (NYSE:NJR) by 42.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 94,936 shares of the utilities provider’s stock after selling 71,067 shares during the period. SG Americas Securities LLC owned about 0.09% of NewJersey Resources worth $5,214,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NJR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in NewJersey Resources by 6.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,363 shares of the utilities provider’s stock worth $2,912,000 after acquiring an additional 3,422 shares during the period. NewEdge Advisors LLC lifted its holdings in NewJersey Resources by 65.7% in the first quarter. NewEdge Advisors LLC now owns 22,214 shares of the utilities provider’s stock valued at $1,090,000 after acquiring an additional 8,808 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in NewJersey Resources by 10.1% in the first 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 acquiring an additional 29,458 shares during the period. Jane Street Group LLC purchased a new stake in shares of NewJersey Resources during the 1st quarter worth $8,907,000. Finally, Invesco Ltd. boosted its position in shares of NewJersey Resources by 14.4% during the 2nd quarter. Invesco Ltd. now owns 465,923 shares of the utilities provider’s stock worth $20,883,000 after purchasing an additional 58,795 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Christopher T. D’antuono sold 1,150 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $57.34, for a total transaction of $65,941.00. Following the sale, the insider owned 2,985 shares of the company’s stock, valued at $171,159.90. This trade represents a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Patrick J. Migliaccio sold 3,000 shares of NewJersey Resources stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $55.84, for a total value of $167,520.00. Following the sale, the chief operating officer owned 35,202 shares of the company’s stock, valued at approximately $1,965,679.68. This represents a 7.85% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 12,150 shares of company stock valued at $682,261. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NJR. Wells Fargo & Company assumed coverage on shares of NewJersey Resources in a report on Tuesday, May 12th. They issued 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 report on Wednesday, May 27th. Argus set a $63.00 target price on shares of NewJersey Resources in a research report on Wednesday, May 20th. Finally, Mizuho increased their target price on shares of NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $58.17.

NewJersey Resources Stock Performance

NYSE:NJR opened at $57.49 on Monday. 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 company has a market capitalization of $5.80 billion, a P/E ratio of 17.06 and a beta of 0.50. The firm has a 50-day moving average price of $55.85 and a two-hundred day moving average price of $52.81. NewJersey Resources Corporation has a twelve month low of $43.46 and a twelve month high of $58.57.

NewJersey Resources (NYSE:NJR) last announced its quarterly earnings results on Monday, May 4th. The utilities provider reported $2.20 earnings per share (EPS) for the quarter, beating 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 company had revenue of $939.40 million for the quarter, compared to the consensus estimate of $849.95 million. During the same quarter in the prior year, the firm earned $1.78 earnings per share. The company’s revenue for the quarter 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. As a group, research analysts expect that NewJersey Resources Corporation will post 3.57 earnings per share for the current fiscal year.

NewJersey Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Wednesday, June 10th. NewJersey Resources’s dividend payout ratio is 56.38%.

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.