Peregrine Capital Management LLC Sells 9,357 Shares of NewJersey Resources Corporation $NJR

Peregrine Capital Management LLC lowered its holdings in shares of NewJersey Resources Corporation (NYSE:NJR) by 8.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 97,466 shares of the utilities provider’s stock after selling 9,357 shares during the period. Peregrine Capital Management LLC’s holdings in NewJersey Resources were worth $5,353,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of NJR. Dimensional Fund Advisors LP grew its position in NewJersey Resources by 10.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,934,165 shares of the utilities provider’s stock valued at $181,446,000 after acquiring an additional 367,844 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of NewJersey Resources by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,629,373 shares of the utilities provider’s stock worth $121,285,000 after acquiring an additional 10,448 shares during the last quarter. Northern Trust Corp boosted its stake in shares of NewJersey Resources by 1.1% in the 3rd quarter. Northern Trust Corp now owns 1,335,344 shares of the utilities provider’s stock valued at $64,297,000 after purchasing an additional 14,512 shares in the last quarter. Norges Bank acquired a new stake in shares of NewJersey Resources in the 4th quarter valued at approximately $60,075,000. Finally, Morgan Stanley grew its holdings in shares of NewJersey Resources by 19.4% during the 4th quarter. Morgan Stanley now owns 1,283,533 shares of the utilities provider’s stock valued at $59,197,000 after purchasing an additional 208,388 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on NJR. Argus set a $63.00 price objective on shares of NewJersey Resources in a research report on Wednesday, May 20th. Weiss Ratings upgraded shares of NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. Mizuho upped their price target on shares of NewJersey Resources from $54.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, April 21st. Finally, Wells Fargo & Company began coverage on shares of NewJersey Resources in a report on Tuesday, May 12th. They set an “overweight” rating and a $63.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat.com, NewJersey Resources presently has a consensus rating of “Buy” and a consensus price target of $58.17.

NewJersey Resources Trading Up 0.4%

NJR opened at $56.25 on Thursday. NewJersey Resources Corporation has a fifty-two week low of $43.46 and a fifty-two week high of $58.57. 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 firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 16.69 and a beta of 0.50. The company’s 50 day moving average price is $55.89 and its two-hundred day moving average price is $53.04.

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

NewJersey Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th were given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, June 10th. NewJersey Resources’s dividend payout ratio (DPR) is currently 56.38%.

Insider Buying and Selling

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 3,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $55.84, for a total value of $167,520.00. Following the sale, the chief operating officer 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jane M. Kenny sold 8,000 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $56.10, for a total value 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. The trade was a 26.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 12,150 shares of company stock valued at $682,261 in the last three months. Insiders own 0.70% of the company’s stock.

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.