NewJersey Resources Corporation $NJR Shares Sold by Inspire Investing LLC

Inspire Investing LLC reduced its stake in NewJersey Resources Corporation (NYSE:NJR) by 76.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 12,558 shares of the utilities provider’s stock after selling 39,863 shares during the period. Inspire Investing LLC’s holdings in NewJersey Resources were worth $635,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of NJR. State Street Corp grew its position in shares of NewJersey Resources by 6.8% in the 2nd quarter. State Street Corp now owns 5,418,885 shares of the utilities provider’s stock valued at $306,134,000 after buying an additional 343,537 shares during the last quarter. BlackRock Inc. purchased a new stake in NewJersey Resources in the second quarter valued at $1,008,340,000. Bank of America Corp DE purchased a new position in shares of NewJersey Resources during the second quarter worth about $22,628,000. Ieq Capital LLC grew its holdings in shares of NewJersey Resources by 217.2% during the second quarter. Ieq Capital LLC now owns 43,205 shares of the utilities provider’s stock worth $2,421,000 after purchasing an additional 29,585 shares during the last quarter. Finally, Jupiter Topco LLC acquired a new stake in shares of NewJersey Resources during the second quarter worth about $2,540,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Transactions at NewJersey Resources

In other NewJersey Resources news, COO Patrick Migliaccio sold 3,000 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $55.63, for a total value of $166,890.00. Following the transaction, the chief operating officer directly owned 32,202 shares of the company’s stock, valued at approximately $1,791,397.26. The trade was a 8.52% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company’s stock.

NewJersey Resources Stock Up 0.6%

NewJersey Resources stock opened at $53.09 on Friday. The stock has a 50 day moving average of $52.61 and a two-hundred day moving average of $54.34. NewJersey Resources Corporation has a twelve month low of $43.46 and a twelve month high of $60.86. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 3.08 and a beta of 0.48. The company has a current ratio of 0.66, a quick ratio of 0.45 and a debt-to-equity ratio of 1.21.

NewJersey Resources (NYSE:NJR) last released its earnings results on Monday, August 3rd. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. NewJersey Resources had a return on equity of 14.46% and a net margin of 16.42%. The business had revenue of $349.18 million for the quarter, compared to analyst estimates of $342.13 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. As a group, research analysts expect that NewJersey Resources Corporation will post 3.59 earnings per share for the current year.

NewJersey Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 24th were given a $0.50 dividend. This is a positive change from NewJersey Resources’s previous quarterly dividend of $0.4750. The ex-dividend date was Thursday, September 24th. This represents a $2.00 dividend on an annualized basis and a yield of 3.8%. NewJersey Resources’s payout ratio is 55.25%.

Analyst Ratings Changes

Several analysts have recently weighed in on NJR shares. New Street Research set a $68.00 target price on NewJersey Resources in a report on Monday, September 14th. Wells Fargo & Company downgraded NewJersey Resources from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $63.00 to $61.00 in a research note on Wednesday, August 5th. Wall Street Zen raised NewJersey Resources from a “sell” rating to a “hold” rating in a research report on Sunday, September 20th. Raymond James Financial set a $61.00 price target on NewJersey Resources in a research report on Thursday, October 15th. Finally, Weiss Ratings cut shares of NewJersey Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $62.50.

About NewJersey Resources

New Jersey Resources Corporation (NYSE: NJR) is an energy services holding company headquartered in New Jersey. Through its subsidiaries, the company provides natural gas distribution, energy management, storage and transportation, and clean energy services to residential, commercial, industrial and institutional customers.

New Jersey Natural Gas, the company’s principal regulated utility, distributes natural gas to customers in central and northern New Jersey. Its energy services operations manage natural gas supplies and provide related products and services, while its storage and transportation activities support the movement and availability of natural gas through regional infrastructure.

The company also invests in renewable energy and other lower-carbon initiatives, including solar generation and clean energy solutions.