NewJersey Resources Corporation $NJR Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its position in NewJersey Resources Corporation (NYSE:NJR) by 20.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 85,817 shares of the utilities provider’s stock after acquiring an additional 14,373 shares during the quarter. Thrivent Financial for Lutherans’ holdings in NewJersey Resources were worth $3,958,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. World Investment Advisors acquired a new position in shares of NewJersey Resources during the 4th quarter worth approximately $1,924,000. Versor Investments LP boosted its holdings in shares of NewJersey Resources by 45.7% during the 4th quarter. Versor Investments LP now owns 13,024 shares of the utilities provider’s stock worth $601,000 after purchasing an additional 4,087 shares during the last quarter. Bailard Inc. acquired a new position in shares of NewJersey Resources during the 4th quarter worth approximately $378,000. Swiss Life Asset Management Ltd boosted its holdings in shares of NewJersey Resources by 11.4% during the 4th quarter. Swiss Life Asset Management Ltd now owns 4,902 shares of the utilities provider’s stock worth $226,000 after purchasing an additional 500 shares during the last quarter. Finally, Plato Investment Management Ltd boosted its holdings in shares of NewJersey Resources by 389.0% during the 4th quarter. Plato Investment Management Ltd now owns 1,071 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 852 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wells Fargo & Company assumed coverage on NewJersey Resources in a report on Tuesday, May 12th. They set an “overweight” rating and a $63.00 target price on the stock. Williams Trading set a $55.00 target price on NewJersey Resources in a report on Tuesday, February 3rd. Wall Street Zen upgraded NewJersey Resources from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Mizuho boosted their target price on NewJersey Resources from $54.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, April 21st. Finally, Raymond James Financial restated an “outperform” rating on shares of NewJersey Resources in a report on Tuesday, February 3rd. Two analysts have rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $57.14.

NewJersey Resources Stock Up 0.1%

NJR stock opened at $57.24 on Friday. The firm has a market cap of $5.78 billion, a PE ratio of 16.98 and a beta of 0.51. 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 firm’s 50 day moving average price is $55.73 and its 200-day moving average price is $51.19. NewJersey Resources Corporation has a one year low of $43.46 and a one year high of $58.57.

NewJersey Resources (NYSE:NJR) last released its quarterly earnings results on Monday, May 4th. The utilities provider reported $2.20 EPS for the quarter, beating the consensus estimate of $1.89 by $0.31. The firm had revenue of $939.40 million for the quarter, compared to analyst estimates of $849.95 million. NewJersey Resources had a net margin of 15.67% and a return on equity of 14.58%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.78 EPS. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. On average, equities research analysts anticipate that NewJersey Resources Corporation will post 3.5 EPS for the current year.

NewJersey Resources Announces Dividend

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

Insider Activity

In other NewJersey Resources news, SVP Richard Reich sold 5,449 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $52.99, for a total value of $288,742.51. Following the sale, the senior vice president owned 26,975 shares of the company’s stock, valued at $1,429,405.25. The trade was a 16.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jane M. Kenny sold 8,000 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $1,234,087.80. The trade was a 26.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 22,554 shares of company stock worth $1,241,448 in the last 90 days. 0.70% of the stock is owned by corporate insiders.

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.