JPMorgan Chase & Co. Has $30.03 Million Stock Position in NewJersey Resources Corporation $NJR

JPMorgan Chase & Co. increased its position in NewJersey Resources Corporation (NYSE:NJR) by 4.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 670,090 shares of the utilities provider’s stock after acquiring an additional 27,147 shares during the quarter. JPMorgan Chase & Co.’s holdings in NewJersey Resources were worth $30,033,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Cullen Frost Bankers Inc. grew its position in shares of NewJersey Resources by 153.0% in the second quarter. Cullen Frost Bankers Inc. now owns 754 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 456 shares during the last quarter. Brooklyn Investment Group boosted its stake in NewJersey Resources by 1,715.4% during the 1st quarter. Brooklyn Investment Group now owns 1,416 shares of the utilities provider’s stock valued at $69,000 after purchasing an additional 1,338 shares during the period. IFP Advisors Inc grew its holdings in NewJersey Resources by 23.1% in the 2nd quarter. IFP Advisors Inc now owns 1,504 shares of the utilities provider’s stock valued at $67,000 after buying an additional 282 shares during the last quarter. Palouse Capital Management Inc. bought a new position in NewJersey Resources in the 2nd quarter worth approximately $95,000. Finally, AlphaQuest LLC lifted its holdings in shares of NewJersey Resources by 112.1% during the second quarter. AlphaQuest LLC now owns 2,229 shares of the utilities provider’s stock worth $100,000 after buying an additional 1,178 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

NewJersey Resources Stock Down 1.9%

NJR opened at $46.37 on Wednesday. The company has a market capitalization of $4.67 billion, a P/E ratio of 11.34 and a beta of 0.61. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.76 and a quick ratio of 0.48. The firm’s fifty day moving average price is $46.45 and its two-hundred day moving average price is $46.19. NewJersey Resources Corporation has a fifty-two week low of $43.46 and a fifty-two week high of $51.60.

NewJersey Resources (NYSE:NJR) last announced its quarterly earnings data on Wednesday, November 19th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. NewJersey Resources had a net margin of 19.64% and a return on equity of 17.08%. The company had revenue of $336.08 million during the quarter, compared to analysts’ expectations of $307.30 million. During the same quarter in the prior year, the company posted $0.89 EPS. The business’s revenue was down 15.1% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.030-3.180 EPS. On average, analysts anticipate that NewJersey Resources Corporation will post 3.15 EPS for the current year.

NewJersey Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders 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 yield of 4.1%. The ex-dividend date of this dividend is Friday, December 12th. NewJersey Resources’s payout ratio is presently 57.06%.

Analyst Upgrades and Downgrades

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