Rhumbline Advisers Acquires 10,016 Shares of NewJersey Resources Corporation $NJR

Rhumbline Advisers raised its stake in NewJersey Resources Corporation (NYSE:NJR) by 2.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 359,215 shares of the utilities provider’s stock after acquiring an additional 10,016 shares during the period. Rhumbline Advisers owned about 0.36% of NewJersey Resources worth $16,100,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AXQ Capital LP bought a new stake in shares of NewJersey Resources during the second quarter valued at approximately $295,000. Legal & General Group Plc raised its holdings in NewJersey Resources by 3.5% during the 2nd quarter. Legal & General Group Plc now owns 227,141 shares of the utilities provider’s stock worth $10,180,000 after buying an additional 7,647 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of NewJersey Resources by 4.2% in the second quarter. JPMorgan Chase & Co. now owns 670,090 shares of the utilities provider’s stock valued at $30,033,000 after purchasing an additional 27,147 shares in the last quarter. Entropy Technologies LP boosted its holdings in NewJersey Resources by 177.6% during the second quarter. Entropy Technologies LP now owns 20,598 shares of the utilities provider’s stock worth $923,000 after purchasing an additional 13,179 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its stake in NewJersey Resources by 81.2% in the second quarter. Dynamic Technology Lab Private Ltd now owns 36,221 shares of the utilities provider’s stock valued at $1,624,000 after purchasing an additional 16,228 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

NewJersey Resources Stock Up 0.4%

Shares of NYSE:NJR opened at $48.08 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.48 and a current ratio of 0.76. NewJersey Resources Corporation has a 52-week low of $43.46 and a 52-week high of $51.79. The business’s 50 day simple moving average is $46.46 and its two-hundred day simple moving average is $46.18. The firm has a market cap of $4.84 billion, a P/E ratio of 11.76 and a beta of 0.67.

NewJersey Resources (NYSE:NJR) last issued its earnings results on Wednesday, November 19th. The utilities provider reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. NewJersey Resources had a return on equity of 17.08% and a net margin of 19.64%.The company had revenue of $336.08 million for the quarter, compared to analyst estimates of $307.30 million. During the same period in the prior year, the firm earned $0.89 earnings per share. NewJersey Resources’s revenue for the quarter was down 15.1% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.030-3.180 EPS. As a group, research analysts forecast that NewJersey Resources Corporation will post 3.15 EPS for the current fiscal year.

NewJersey Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 12th will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Friday, December 12th. NewJersey Resources’s dividend payout ratio (DPR) is currently 57.06%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NJR. Wall Street Zen lowered NewJersey Resources from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Raymond James Financial reiterated an “outperform” rating and issued a $53.00 target price on shares of NewJersey Resources in a research report on Thursday, November 20th. Finally, Weiss Ratings upgraded NewJersey Resources from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, November 21st. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $51.86.

About NewJersey Resources

New Jersey Resources Corporation, an energy services holding company, distributes natural gas. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Storage and Transportation. The Natural Gas Distribution segment offers regulated natural gas utility services to approximately 576,000 customers in Burlington, Middlesex, Monmouth, Morris, Ocean, and Sussex counties in New Jersey; provides capacity and storage management services; and participates in the off-system sales and capacity release markets.