Inceptionr LLC Takes $572,000 Position in NewJersey Resources Corporation $NJR

Inceptionr LLC purchased a new position in shares of NewJersey Resources Corporation (NYSE:NJR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,872 shares of the utilities provider’s stock, valued at approximately $572,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NJR. Norges Bank purchased a new position in shares of NewJersey Resources in the 2nd quarter worth about $52,671,000. Energy Income Partners LLC lifted its holdings in NewJersey Resources by 145.7% in the 2nd quarter. Energy Income Partners LLC now owns 798,661 shares of the utilities provider’s stock worth $35,796,000 after buying an additional 473,664 shares in the last quarter. Qube Research & Technologies Ltd boosted its holdings in NewJersey Resources by 77.1% in the second quarter. Qube Research & Technologies Ltd now owns 730,300 shares of the utilities provider’s stock valued at $32,732,000 after purchasing an additional 317,932 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of NewJersey Resources by 68.2% during the 3rd quarter. Victory Capital Management Inc. now owns 610,166 shares of the utilities provider’s stock valued at $29,379,000 after buying an additional 247,310 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in NewJersey Resources by 127.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 347,620 shares of the utilities provider’s stock worth $15,580,000 after acquiring an additional 194,836 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

NewJersey Resources Price Performance

NYSE NJR opened at $54.29 on Wednesday. The company has a market cap of $5.47 billion, a P/E ratio of 16.81 and a beta of 0.57. The company has a current ratio of 0.83, a quick ratio of 0.58 and a debt-to-equity ratio of 1.32. NewJersey Resources Corporation has a 1 year low of $43.46 and a 1 year high of $55.49. The company has a fifty day simple moving average of $50.66 and a 200 day simple moving average of $47.95.

NewJersey Resources (NYSE:NJR) last posted its quarterly earnings data on Monday, February 2nd. The utilities provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.22. The business had revenue of $604.85 million during 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 revenue was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.29 EPS. NewJersey Resources has set its FY 2026 guidance at 3.280-3.43 EPS. On average, sell-side analysts predict that NewJersey Resources Corporation will post 3.15 EPS for the current year.

NewJersey Resources Announces Dividend

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

Insider Activity

In related news, COO Patrick J. Migliaccio sold 4,017 shares of the business’s 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 transaction, the chief operating officer directly owned 38,065 shares in the company, valued at $1,768,499.90. The trade was a 9.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Weiss Ratings upgraded shares of NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 13th. New Street Research set a $54.00 price target on NewJersey Resources in a research report on Wednesday, December 17th. Raymond James Financial reiterated an “outperform” rating on shares of NewJersey Resources in a report on Tuesday, February 3rd. Mizuho upgraded NewJersey Resources from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $51.00 to $54.00 in a report on Wednesday, December 17th. Finally, Argus upgraded shares of NewJersey Resources to a “strong-buy” rating in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently 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.