Hsbc Holdings PLC Sells 33,688 Shares of NewJersey Resources Corporation $NJR

Hsbc Holdings PLC lessened its holdings in shares of NewJersey Resources Corporation (NYSE:NJR) by 25.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 96,203 shares of the utilities provider’s stock after selling 33,688 shares during the period. Hsbc Holdings PLC owned about 0.10% of NewJersey Resources worth $4,431,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in NJR. Rockefeller Capital Management L.P. raised its position in shares of NewJersey Resources by 48.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,733 shares of the utilities provider’s stock valued at $172,000 after buying an additional 1,225 shares in the last quarter. World Investment Advisors acquired a new stake in NewJersey Resources during the fourth quarter worth approximately $1,924,000. Caitong International Asset Management Co. Ltd increased its stake in NewJersey Resources by 732.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,806 shares of the utilities provider’s stock worth $83,000 after acquiring an additional 1,589 shares during the period. MidFirst Bank bought a new position in NewJersey Resources during the 4th quarter worth $333,000. Finally, DGS Capital Management LLC acquired a new position in NewJersey Resources in the 4th quarter valued at $224,000. 70.98% of the stock is owned by institutional investors.

Insider Buying and Selling at NewJersey Resources

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

NewJersey Resources Stock Up 0.6%

Shares of NYSE NJR opened at $57.94 on Friday. 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 cap of $5.85 billion, a price-to-earnings ratio of 17.19 and a beta of 0.50. NewJersey Resources Corporation has a 12 month low of $43.46 and a 12 month high of $58.57. The stock has a 50-day moving average price of $56.08 and a two-hundred day moving average price of $53.49.

NewJersey Resources (NYSE:NJR) last posted its earnings results on Monday, May 4th. The utilities provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. The firm had revenue of $939.40 million during the quarter, compared to analysts’ expectations of $849.95 million. NewJersey Resources had a net margin of 15.67% and a return on equity of 14.58%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.78 earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. As a group, analysts forecast that NewJersey Resources Corporation will post 3.57 earnings per share for the current fiscal year.

NewJersey Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th were given a $0.475 dividend. The ex-dividend date was Wednesday, June 10th. This represents a $1.90 dividend on an annualized basis and a yield of 3.3%. NewJersey Resources’s dividend payout ratio (DPR) is currently 56.38%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Mizuho increased their target price on NewJersey Resources from $54.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, April 21st. Wells Fargo & Company assumed coverage on shares of NewJersey Resources in a research report on Tuesday, May 12th. They set an “overweight” rating and a $63.00 price objective for the company. Weiss Ratings upgraded shares of NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. Finally, Argus set a $63.00 target price on shares of NewJersey Resources in a report on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $58.17.

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.