Leuthold Group LLC Grows Position in NewJersey Resources Corporation $NJR

Leuthold Group LLC lifted its position in shares of NewJersey Resources Corporation (NYSE:NJR) by 11.0% during the second quarter, Holdings Channel.com reports. The firm owned 69,635 shares of the utilities provider’s stock after acquiring an additional 6,917 shares during the period. Leuthold Group LLC’s holdings in NewJersey Resources were worth $3,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in NJR. Norges Bank purchased a new stake in NewJersey Resources during the second quarter worth $52,671,000. Nuveen LLC purchased a new position in NewJersey Resources in the first quarter valued at $29,509,000. Jane Street Group LLC acquired a new position in shares of NewJersey Resources in the first quarter worth about $8,907,000. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of NewJersey Resources during the 1st quarter worth about $6,834,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of NewJersey Resources by 3.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,424,736 shares of the utilities provider’s stock worth $168,019,000 after acquiring an additional 115,570 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

NewJersey Resources Trading Up 0.4%

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

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

NewJersey Resources Dividend Announcement

The firm 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 $0.475 dividend. The ex-dividend date is Friday, December 12th. This represents a $1.90 dividend on an annualized basis and a yield of 4.0%. NewJersey Resources’s dividend payout ratio is presently 57.06%.

Analyst Ratings Changes

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

NewJersey Resources Profile

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.