Leuthold Group LLC Sells 64,321 Shares of NewJersey Resources Corporation $NJR

Leuthold Group LLC trimmed its holdings in shares of NewJersey Resources Corporation (NYSE:NJR) by 92.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,314 shares of the utilities provider’s stock after selling 64,321 shares during the quarter. Leuthold Group LLC’s holdings in NewJersey Resources were worth $256,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Bessemer Group Inc. boosted its position in NewJersey Resources by 60.1% during the 3rd quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 230 shares in the last quarter. Tradewinds Capital Management LLC purchased a new stake in shares of NewJersey Resources during the 3rd quarter worth $30,000. Cullen Frost Bankers Inc. boosted its position in NewJersey Resources by 153.0% during the second quarter. Cullen Frost Bankers Inc. now owns 754 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 456 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in NewJersey Resources by 259.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,203 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 868 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in NewJersey Resources in the second quarter valued at about $54,000. Institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 4,017 shares of NewJersey Resources stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $46.46, for a total transaction of $186,629.82. Following the completion of the sale, the chief operating officer owned 38,065 shares of the company’s stock, valued at approximately $1,768,499.90. The trade was a 9.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on NJR shares. New Street Research set a $54.00 price target on shares of NewJersey Resources in a research report on Wednesday, December 17th. Mizuho upgraded shares of NewJersey Resources from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $51.00 to $54.00 in a research note on Wednesday, December 17th. Argus raised shares of NewJersey Resources to a “strong-buy” rating in a research report on Thursday, January 22nd. Williams Trading set a $55.00 price target on shares of NewJersey Resources in a report on Tuesday, February 3rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NewJersey Resources in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, NewJersey Resources has an average rating of “Moderate Buy” and a consensus price target of $53.00.

NewJersey Resources Stock Performance

Shares of NewJersey Resources stock opened at $53.82 on Friday. The company has a 50 day moving average price of $47.81 and a 200 day moving average price of $47.02. The firm has a market capitalization of $5.43 billion, a P/E ratio of 16.66 and a beta of 0.60. The company has a quick ratio of 0.58, a current ratio of 0.83 and a debt-to-equity ratio of 1.32. NewJersey Resources Corporation has a 52 week low of $43.46 and a 52 week high of $54.18.

NewJersey Resources (NYSE:NJR) last issued its quarterly earnings results on Monday, February 2nd. The utilities provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. The business had revenue of $604.85 million for the quarter, compared to analyst estimates of $546.90 million. NewJersey Resources had a net margin of 15.18% and a return on equity of 13.06%. NewJersey Resources’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.29 EPS. NewJersey Resources has set its FY 2026 guidance at 3.280-3.43 EPS. Sell-side analysts expect that NewJersey Resources Corporation will post 3.15 EPS for the current year.

NewJersey Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 11th will be paid a $0.475 dividend. The ex-dividend date is Wednesday, March 11th. This represents a $1.90 dividend on an annualized basis and a yield of 3.5%. NewJersey Resources’s dividend payout ratio (DPR) is 58.82%.

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.