NewJersey Resources Corporation $NJR Shares Sold by Aventail Capital Group LP

Aventail Capital Group LP decreased its holdings in NewJersey Resources Corporation (NYSE:NJR) by 40.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 61,814 shares of the utilities provider’s stock after selling 41,642 shares during the period. Aventail Capital Group LP’s holdings in NewJersey Resources were worth $2,851,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Measured Wealth Private Client Group LLC purchased a new stake in shares of NewJersey Resources in the 3rd quarter valued at approximately $28,000. Torren Management LLC purchased a new stake in shares of NewJersey Resources in the 4th quarter valued at approximately $35,000. Smartleaf Asset Management LLC grew its stake in shares of NewJersey Resources by 118.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 933 shares of the utilities provider’s stock valued at $43,000 after buying an additional 505 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of NewJersey Resources in the 3rd quarter valued at approximately $48,000. Finally, Parallel Advisors LLC grew its stake in shares of NewJersey Resources by 56.9% in the 3rd quarter. Parallel Advisors LLC now owns 1,001 shares of the utilities provider’s stock valued at $48,000 after buying an additional 363 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

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

NewJersey Resources Price Performance

Shares of NJR opened at $55.23 on Thursday. NewJersey Resources Corporation has a twelve month low of $43.46 and a twelve month high of $58.57. The firm’s fifty day simple moving average is $55.94 and its 200-day simple moving average is $52.32. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 16.39 and a beta of 0.50. The company has a current ratio of 0.94, a quick ratio of 0.80 and a debt-to-equity ratio of 1.24.

NewJersey Resources (NYSE:NJR) last announced its quarterly earnings results on Monday, May 4th. The utilities provider reported $2.20 EPS for the quarter, topping the consensus estimate of $1.89 by $0.31. NewJersey Resources had a net margin of 15.67% and a return on equity of 14.58%. The firm had revenue of $939.40 million for the quarter, compared to analyst estimates of $849.95 million. During the same period last year, the business earned $1.78 EPS. NewJersey Resources’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 analysts forecast that NewJersey Resources Corporation will post 3.57 EPS for the current fiscal year.

NewJersey Resources Announces Dividend

The firm 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 $0.475 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $1.90 dividend on an annualized basis and a yield of 3.4%. NewJersey Resources’s payout ratio is currently 56.38%.

Insider Buying and Selling at NewJersey Resources

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 3,000 shares of NewJersey Resources stock in a transaction on Monday, May 11th. The shares were sold at an average price of $55.84, for a total value of $167,520.00. Following the transaction, the chief operating officer directly owned 35,202 shares in the company, valued at approximately $1,965,679.68. The trade was a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jane M. Kenny sold 8,000 shares of NewJersey Resources stock in a transaction on 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 approximately $1,234,087.80. This represents 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 three months, insiders have sold 12,150 shares of company stock worth $682,261. 0.70% of the stock is owned by company insiders.

NewJersey Resources Profile

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.