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

Hsbc Holdings PLC cut its position in shares of NewJersey Resources Corporation (NYSE:NJR) by 25.9% during the fourth quarter, according to the company in its most recent disclosure 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 quarter. Hsbc Holdings PLC owned 0.10% of NewJersey Resources worth $4,431,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its position in shares of NewJersey Resources by 732.3% in 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 stake in shares of NewJersey Resources during the fourth quarter valued at approximately $333,000. DGS Capital Management LLC acquired a new position in shares of NewJersey Resources in the fourth quarter valued at $224,000. Invesco Ltd. raised its stake in shares of NewJersey Resources by 6.6% in the fourth quarter. Invesco Ltd. now owns 519,941 shares of the utilities provider’s stock valued at $23,980,000 after purchasing an additional 32,116 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its position in NewJersey Resources by 18.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 12,483 shares of the utilities provider’s stock worth $576,000 after purchasing an additional 1,921 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NJR. Argus set a $63.00 price target on shares of NewJersey Resources in a research note on Wednesday, May 20th. 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. Wells Fargo & Company started coverage on shares of NewJersey Resources in a report on Tuesday, May 12th. They set an “overweight” rating and a $63.00 price objective for the company. Finally, Mizuho upped their target price on shares of NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a research note 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $58.17.

NewJersey Resources Price Performance

NewJersey Resources stock opened at $57.49 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 firm has a market capitalization of $5.80 billion, a P/E ratio of 17.06 and a beta of 0.50. The business has a 50-day moving average of $55.85 and a 200-day moving average of $52.75. NewJersey Resources Corporation has a 1 year low of $43.46 and a 1 year high of $58.57.

NewJersey Resources (NYSE:NJR) last released its quarterly earnings data on Monday, May 4th. The utilities provider reported $2.20 earnings per share 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 business had revenue of $939.40 million for the quarter, compared to analyst estimates of $849.95 million. During the same quarter last year, the firm earned $1.78 EPS. NewJersey Resources’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. On average, equities analysts anticipate that NewJersey Resources Corporation will post 3.57 EPS for the current year.

NewJersey Resources Announces Dividend

The firm 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. The ex-dividend date is Wednesday, June 10th. This represents a $1.90 annualized dividend and a yield of 3.3%. NewJersey Resources’s payout ratio is currently 56.38%.

Insider Buying and Selling at NewJersey Resources

In related news, Director Jane M. Kenny sold 8,000 shares of the stock in a transaction that occurred on 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 sale, the director directly owned 21,998 shares of the company’s stock, valued at approximately $1,234,087.80. This represents a 26.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Patrick J. Migliaccio sold 3,000 shares of NewJersey Resources stock in a transaction that occurred 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. The trade was a 7.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 12,150 shares of company stock valued at $682,261. Company insiders own 0.70% of the company’s stock.

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.