Hennessy Advisors Inc. Sells 16,500 Shares of NewJersey Resources Corporation $NJR

Hennessy Advisors Inc. decreased its position in NewJersey Resources Corporation (NYSE:NJR) by 13.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 110,034 shares of the utilities provider’s stock after selling 16,500 shares during the quarter. Hennessy Advisors Inc.’s holdings in NewJersey Resources were worth $5,298,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of NewJersey Resources by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 2,545,394 shares of the utilities provider’s stock valued at $114,097,000 after purchasing an additional 16,954 shares during the last quarter. Norges Bank purchased a new stake in NewJersey Resources during the second quarter valued at approximately $52,671,000. ProShare Advisors LLC raised its position in NewJersey Resources by 0.4% in the second quarter. ProShare Advisors LLC now owns 831,309 shares of the utilities provider’s stock worth $37,259,000 after acquiring an additional 3,588 shares during the period. Energy Income Partners LLC raised its position in NewJersey Resources by 145.7% in the second quarter. Energy Income Partners LLC now owns 798,661 shares of the utilities provider’s stock worth $35,796,000 after acquiring an additional 473,664 shares during the period. Finally, Qube Research & Technologies Ltd boosted its stake in shares of NewJersey Resources by 77.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 730,300 shares of the utilities provider’s stock worth $32,732,000 after acquiring an additional 317,932 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Analysts Set New Price Targets

NJR has been the subject of several analyst reports. Raymond James Financial restated an “outperform” rating and issued a $53.00 price objective on shares of NewJersey Resources in a research note on Thursday, November 20th. Wall Street Zen cut NewJersey Resources from a “hold” rating to a “sell” rating in a research report on Sunday, December 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NewJersey Resources in a research report on Monday. Mizuho upgraded NewJersey Resources from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $51.00 to $54.00 in a research note on Wednesday, December 17th. Finally, New Street Research set a $54.00 target price on shares of NewJersey Resources in a research note on Wednesday, December 17th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $52.86.

NewJersey Resources Stock Performance

NYSE NJR opened at $46.18 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.73 and a debt-to-equity ratio of 1.36. NewJersey Resources Corporation has a twelve month low of $43.46 and a twelve month high of $50.76. The business has a 50-day moving average price of $46.18 and a 200-day moving average price of $46.27. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 13.87 and a beta of 0.60.

NewJersey Resources (NYSE:NJR) last posted its quarterly earnings results on Wednesday, November 19th. The utilities provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. NewJersey Resources had a return on equity of 13.73% and a net margin of 16.48%.The company had revenue of $336.08 million for the quarter, compared to analysts’ expectations of $307.30 million. During the same period in the previous year, the firm earned $0.89 EPS. The firm’s revenue was down 15.1% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.030-3.180 EPS. As a group, equities research analysts predict that NewJersey Resources Corporation will post 3.15 EPS for the current fiscal year.

NewJersey Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Friday, December 12th will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Friday, December 12th. NewJersey Resources’s payout ratio is currently 57.06%.

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.