29,200 Shares in NewJersey Resources Corporation $NJR Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new stake in NewJersey Resources Corporation (NYSE:NJR) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 29,200 shares of the utilities provider’s stock, valued at approximately $1,604,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Measured Wealth Private Client Group LLC purchased a new stake in shares of NewJersey Resources during the third quarter worth approximately $28,000. Torren Management LLC acquired a new position in NewJersey Resources during the 4th quarter worth approximately $35,000. Smartleaf Asset Management LLC increased its position 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 purchasing an additional 505 shares during the last quarter. CENTRAL TRUST Co increased its position in shares of NewJersey Resources by 172.7% in the 1st quarter. CENTRAL TRUST Co now owns 818 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 518 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in shares of NewJersey Resources in the 3rd quarter valued at $48,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

NewJersey Resources Price Performance

Shares of NYSE:NJR opened at $56.25 on Thursday. The company’s fifty day moving average price is $55.89 and its 200 day moving average price is $53.04. NewJersey Resources Corporation has a 12 month low of $43.46 and a 12 month high of $58.57. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.80. The firm has a market capitalization of $5.68 billion, a P/E ratio of 16.69 and a beta of 0.50.

NewJersey Resources (NYSE:NJR) last released its quarterly earnings data on Monday, May 4th. The utilities provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.31. The company had revenue of $939.40 million during the quarter, compared to the consensus estimate of $849.95 million. NewJersey Resources had a net margin of 15.67% and a return on equity of 14.58%. NewJersey Resources’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter 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, sell-side analysts predict that NewJersey Resources Corporation will post 3.57 earnings per share for the current fiscal year.

NewJersey Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th were paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Wednesday, June 10th. NewJersey Resources’s dividend payout ratio (DPR) is currently 56.38%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NJR. Argus set a $63.00 target price on shares of NewJersey Resources in a research note on Wednesday, May 20th. Weiss Ratings upgraded NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. Mizuho lifted their price target on NewJersey Resources from $54.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, April 21st. Finally, Wells Fargo & Company initiated coverage on NewJersey Resources in a research report on Tuesday, May 12th. They set an “overweight” rating and a $63.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $58.17.

Insiders Place Their Bets

In other news, insider Christopher T. D’antuono sold 1,150 shares of NewJersey Resources 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 directly owned 2,985 shares of the company’s stock, valued at $171,159.90. The trade was a 27.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jane M. Kenny sold 8,000 shares of the company’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 sale, the director owned 21,998 shares of the company’s stock, valued at approximately $1,234,087.80. This trade represents a 26.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,150 shares of company stock valued at $682,261 over the last quarter. Company insiders own 0.70% of the company’s stock.

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.