Segall Bryant & Hamill LLC Trims Stock Position in NewJersey Resources Corporation $NJR

Segall Bryant & Hamill LLC decreased its position in shares of NewJersey Resources Corporation (NYSE:NJR) by 2.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 345,139 shares of the utilities provider’s stock after selling 10,466 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in NewJersey Resources were worth $16,618,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in NJR. Elo Mutual Pension Insurance Co grew its stake in NewJersey Resources by 160.9% during the 3rd quarter. Elo Mutual Pension Insurance Co now owns 71,568 shares of the utilities provider’s stock worth $3,446,000 after buying an additional 44,142 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of NewJersey Resources during the third quarter worth approximately $132,000. TIAA Trust National Association purchased a new position in shares of NewJersey Resources during the third quarter worth approximately $207,000. R Squared Ltd acquired a new position in shares of NewJersey Resources in the 3rd quarter valued at $220,000. Finally, Hohimer Wealth Management LLC purchased a new stake in NewJersey Resources in the 3rd quarter valued at $214,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NewJersey Resources

In other news, COO Patrick J. Migliaccio sold 4,017 shares of the stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $46.46, for a total value of $186,629.82. Following the completion of the transaction, the chief operating officer owned 38,065 shares in the company, valued at $1,768,499.90. This trade represents a 9.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by company insiders.

NewJersey Resources Trading Up 1.4%

NYSE NJR opened at $55.25 on Wednesday. The company has a quick ratio of 0.58, a current ratio of 0.83 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $5.57 billion, a P/E ratio of 17.11 and a beta of 0.57. NewJersey Resources Corporation has a 52-week low of $43.46 and a 52-week high of $55.32. The firm has a 50-day moving average price of $49.83 and a 200 day moving average price of $47.68.

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

NewJersey Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 11th will be given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Wednesday, March 11th. NewJersey Resources’s payout ratio is presently 58.82%.

Wall Street Analysts Forecast Growth

NJR has been the topic of several research reports. Williams Trading set a $55.00 price objective on shares of NewJersey Resources in a research report on Tuesday, February 3rd. Argus raised NewJersey Resources to a “strong-buy” rating in a report on Thursday, January 22nd. Wall Street Zen raised NewJersey Resources from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. New Street Research set a $54.00 price objective on NewJersey Resources in a research report on Wednesday, December 17th. Finally, Weiss Ratings upgraded NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.00.

NewJersey Resources Company 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.