NewJersey Resources Corporation $NJR Shares Bought by Faithward Advisors LLC

Faithward Advisors LLC grew its position in NewJersey Resources Corporation (NYSE:NJR) by 308.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,771 shares of the utilities provider’s stock after purchasing an additional 14,925 shares during the quarter. Faithward Advisors LLC’s holdings in NewJersey Resources were worth $1,086,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Measured Wealth Private Client Group LLC purchased a new position in NewJersey Resources during the 3rd quarter worth $28,000. Torren Management LLC purchased a new stake in NewJersey Resources in the fourth quarter valued at about $35,000. CENTRAL TRUST Co boosted its holdings in NewJersey Resources by 172.7% in the first quarter. CENTRAL TRUST Co now owns 818 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 518 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of NewJersey Resources by 118.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 933 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 505 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of NewJersey Resources by 56.9% during the third quarter. Parallel Advisors LLC now owns 1,001 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 363 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NJR. 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. Argus set a $63.00 price target on shares of NewJersey Resources in a research note on Wednesday, May 20th. Wells Fargo & Company started 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. Finally, Mizuho lifted their price objective on shares of NewJersey Resources from $54.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $58.17.

Insider Activity at NewJersey Resources

In other NewJersey Resources news, Director Jane M. Kenny sold 8,000 shares of NewJersey Resources stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $56.10, for a total transaction of $448,800.00. Following the completion of the transaction, the director owned 21,998 shares in the company, valued at approximately $1,234,087.80. This trade represents a 26.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christopher T. D’antuono sold 1,150 shares of the business’s stock in a transaction dated 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 directly owned 2,985 shares of the company’s stock, valued at approximately $171,159.90. This trade represents a 27.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 12,150 shares of company stock worth $682,261 over the last three months. Company insiders own 0.70% of the company’s stock.

NewJersey Resources Trading Up 2.8%

Shares of NYSE:NJR opened at $56.37 on Wednesday. NewJersey Resources Corporation has a 52-week low of $43.46 and a 52-week high of $58.57. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 16.73 and a beta of 0.50. The company has a quick ratio of 0.80, a current ratio of 0.94 and a debt-to-equity ratio of 1.24. The business has a 50-day moving average price of $55.79 and a 200-day moving average price of $52.55.

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

NewJersey Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th will be issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, June 10th. NewJersey Resources’s dividend payout ratio (DPR) 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.