SG Americas Securities LLC Trims Position in NewJersey Resources Corporation $NJR

SG Americas Securities LLC lowered its position in shares of NewJersey Resources Corporation (NYSE:NJR) by 42.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 94,936 shares of the utilities provider’s stock after selling 71,067 shares during the quarter. SG Americas Securities LLC’s holdings in NewJersey Resources were worth $5,214,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of NJR. Measured Wealth Private Client Group LLC acquired a new stake in shares of NewJersey Resources during the third quarter worth $28,000. Torren Management LLC acquired a new position in NewJersey Resources in the fourth quarter valued at $35,000. Smartleaf Asset Management LLC increased its stake in NewJersey Resources by 118.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 933 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 505 shares during the last quarter. Neo Ivy Capital Management purchased a new position in NewJersey Resources during the third quarter worth about $48,000. Finally, Parallel Advisors LLC lifted its position in NewJersey Resources by 56.9% during the third quarter. Parallel Advisors LLC now owns 1,001 shares of the utilities provider’s stock worth $48,000 after buying an additional 363 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NewJersey Resources

In other news, insider Christopher T. D’antuono sold 1,150 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $57.34, for a total value of $65,941.00. Following the transaction, the insider owned 2,985 shares of the company’s stock, valued at approximately $171,159.90. This trade represents a 27.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jane M. Kenny sold 8,000 shares of the firm’s 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 directly owned 21,998 shares in the company, valued at approximately $1,234,087.80. This represents a 26.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 12,150 shares of company stock worth $682,261. Company insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

NJR has been the subject of several recent analyst reports. Argus set a $63.00 price target on NewJersey Resources in a report on Wednesday, May 20th. 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 price objective on the stock. Weiss Ratings raised shares of NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. Finally, Mizuho boosted their target price on shares of NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $58.17.

NewJersey Resources Price Performance

NJR stock opened at $57.49 on Monday. The stock has a 50-day moving average price of $55.85 and a two-hundred day moving average price of $52.81. NewJersey Resources Corporation has a 12-month low of $43.46 and a 12-month high of $58.57. The company has a current ratio of 0.94, a quick ratio of 0.80 and a debt-to-equity ratio of 1.24. The company has a market cap of $5.80 billion, a PE ratio of 17.06 and a beta of 0.50.

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. The company had revenue of $939.40 million during the quarter, compared to analyst estimates of $849.95 million. NewJersey Resources had a return on equity of 14.58% and a net margin of 15.67%.The firm’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $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 EPS for the current year.

NewJersey Resources Dividend Announcement

The firm also recently declared 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 is Wednesday, June 10th. This represents a $1.90 annualized dividend and a yield of 3.3%. NewJersey Resources’s dividend payout ratio (DPR) is presently 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.