Jane Kenny Sells 8,000 Shares of NewJersey Resources (NYSE:NJR) Stock

NewJersey Resources Corporation (NYSE:NJR) Director Jane Kenny sold 8,000 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $56.10, for a total value of $448,800.00. Following the transaction, the director owned 21,998 shares of the company’s stock, valued at $1,234,087.80. This represents a 26.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

NewJersey Resources Stock Performance

NewJersey Resources stock opened at $56.94 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.80. The stock has a fifty day moving average price of $55.27 and a two-hundred day moving average price of $50.54. NewJersey Resources Corporation has a 52-week low of $43.46 and a 52-week high of $57.85. The firm has a market capitalization of $5.75 billion, a P/E ratio of 16.90 and a beta of 0.51.

NewJersey Resources (NYSE:NJR) last released its quarterly earnings data on Monday, May 4th. The utilities provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $849.95 million. During the same period in the prior year, the company posted $1.78 earnings per share. The business’s revenue for the quarter 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. As a group, analysts anticipate that NewJersey Resources Corporation will post 3.5 EPS for the current fiscal year.

NewJersey Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th will be paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 3.3%. The ex-dividend date is Wednesday, June 10th. NewJersey Resources’s dividend payout ratio is currently 56.38%.

Hedge Funds Weigh In On NewJersey Resources

Several hedge funds have recently added to or reduced their stakes in NJR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in NewJersey Resources by 6.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,363 shares of the utilities provider’s stock valued at $2,912,000 after acquiring an additional 3,422 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in NewJersey Resources by 65.7% in the first quarter. NewEdge Advisors LLC now owns 22,214 shares of the utilities provider’s stock valued at $1,090,000 after acquiring an additional 8,808 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in NewJersey Resources by 10.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 320,113 shares of the utilities provider’s stock valued at $15,705,000 after acquiring an additional 29,458 shares during the last quarter. Jane Street Group LLC bought a new position in NewJersey Resources in the first quarter valued at about $8,907,000. Finally, Invesco Ltd. boosted its holdings in NewJersey Resources by 14.4% during the second quarter. Invesco Ltd. now owns 465,923 shares of the utilities provider’s stock worth $20,883,000 after buying an additional 58,795 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

NJR has been the subject of a number of research reports. Raymond James Financial restated an “outperform” rating on shares of NewJersey Resources in a research note on Tuesday, February 3rd. Wall Street Zen upgraded NewJersey Resources from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Argus upgraded NewJersey Resources to a “strong-buy” rating in a research note on Thursday, January 22nd. Mizuho raised their target price on NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, April 21st. Finally, Wells Fargo & Company initiated coverage on NewJersey Resources in a research note on Tuesday. They issued an “overweight” rating and a $63.00 target price for the company. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $56.17.

About NewJersey Resources

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.