Faithward Advisors LLC Grows Position in NewJersey Resources Corporation $NJR

Faithward Advisors LLC lifted its position in shares of NewJersey Resources Corporation (NYSE:NJR) by 308.0% during the first quarter, Holdings Channel.com reports. The firm owned 19,771 shares of the utilities provider’s stock after acquiring an additional 14,925 shares during the period. Faithward Advisors LLC’s holdings in NewJersey Resources were worth $1,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in NJR. Norges Bank acquired a new position in shares of NewJersey Resources in the 4th quarter valued at $60,075,000. Millennium Management LLC grew its position in NewJersey Resources by 895.7% during the third quarter. Millennium Management LLC now owns 677,352 shares of the utilities provider’s stock valued at $32,614,000 after buying an additional 609,323 shares during the period. Dimensional Fund Advisors LP increased its holdings 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 buying an additional 367,844 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in NewJersey Resources by 77.1% in the second quarter. Qube Research & Technologies Ltd now owns 730,300 shares of the utilities provider’s stock valued at $32,732,000 after buying an additional 317,932 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of NewJersey Resources in the third quarter worth approximately $13,351,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on NJR. Argus set a $63.00 price objective on NewJersey Resources in a research note on Wednesday, May 20th. Mizuho lifted their target price on shares of NewJersey Resources from $54.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 21st. 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 target price for the company. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $58.17.

Insider Buying and Selling

In other NewJersey Resources news, insider Christopher T. D’antuono sold 1,150 shares of NewJersey Resources stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $57.34, for a total transaction of $65,941.00. Following the transaction, the insider directly owned 2,985 shares of the company’s stock, valued at $171,159.90. The trade was a 27.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jane M. Kenny sold 8,000 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $56.10, for a total transaction of $448,800.00. Following the completion of the transaction, the director owned 21,998 shares in the company, valued at $1,234,087.80. The trade was a 26.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 12,150 shares of company stock worth $682,261. Insiders own 0.70% of the company’s stock.

NewJersey Resources Price Performance

NYSE:NJR opened at $56.37 on Wednesday. NewJersey Resources Corporation has a one year low of $43.46 and a one year high of $58.57. The stock has a market cap of $5.69 billion, a PE ratio of 16.73 and a beta of 0.50. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.80 and a current ratio of 0.94. The stock has a 50 day moving average price of $55.79 and a 200 day moving average price of $52.55.

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 analysts’ consensus estimates of $1.89 by $0.31. NewJersey Resources had a return on equity of 14.58% and a net margin of 15.67%.The company had revenue of $939.40 million for the quarter, compared to analyst estimates of $849.95 million. During the same quarter in the previous year, the company posted $1.78 earnings per share. The firm’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. Equities research analysts expect that NewJersey Resources Corporation will post 3.57 EPS for the current fiscal year.

NewJersey Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th will be issued a $0.475 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.4%. NewJersey Resources’s dividend payout ratio is currently 56.38%.

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.