Connor Clark & Lunn Investment Management Ltd. Makes New $605,000 Investment in NewJersey Resources Corporation $NJR

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of NewJersey Resources Corporation (NYSE:NJR) during the second quarter, Holdings Channel.com reports. The fund bought 13,503 shares of the utilities provider’s stock, valued at approximately $605,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NJR. Cullen Frost Bankers Inc. grew its holdings in NewJersey Resources by 153.0% in the second quarter. Cullen Frost Bankers Inc. now owns 754 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 456 shares during the period. Brooklyn Investment Group lifted its position in shares of NewJersey Resources by 1,715.4% during the 1st quarter. Brooklyn Investment Group now owns 1,416 shares of the utilities provider’s stock valued at $69,000 after buying an additional 1,338 shares in the last quarter. IFP Advisors Inc grew its stake in NewJersey Resources by 23.1% in the 2nd quarter. IFP Advisors Inc now owns 1,504 shares of the utilities provider’s stock valued at $67,000 after acquiring an additional 282 shares during the period. AlphaQuest LLC increased its holdings in NewJersey Resources by 112.1% in the 2nd quarter. AlphaQuest LLC now owns 2,229 shares of the utilities provider’s stock worth $100,000 after acquiring an additional 1,178 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in NewJersey Resources by 29.6% during the second quarter. Farther Finance Advisors LLC now owns 2,410 shares of the utilities provider’s stock worth $108,000 after acquiring an additional 551 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

NewJersey Resources Stock Down 0.7%

NJR stock opened at $46.08 on Thursday. NewJersey Resources Corporation has a one year low of $43.46 and a one year high of $51.94. The firm has a market cap of $4.63 billion, a PE ratio of 11.27 and a beta of 0.67. The firm’s 50 day moving average price is $46.28 and its 200-day moving average price is $46.16. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.48 and a current ratio of 0.76.

NewJersey Resources (NYSE:NJR) last posted its earnings results on Wednesday, November 19th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. NewJersey Resources had a return on equity of 17.08% and a net margin of 19.64%.The company had revenue of $336.08 million during the quarter, compared to analysts’ expectations of $307.30 million. During the same quarter last year, the firm earned $0.89 earnings per share. The firm’s quarterly 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. On average, equities research analysts anticipate that NewJersey Resources Corporation will post 3.15 EPS for the current year.

NewJersey Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 12th will be issued a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 4.1%. The ex-dividend date is Friday, December 12th. NewJersey Resources’s payout ratio is 46.45%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of NewJersey Resources from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Raymond James Financial reiterated an “outperform” rating and issued a $50.00 price objective (up from $49.00) on shares of NewJersey Resources in a report on Friday, August 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of NewJersey Resources in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, NewJersey Resources presently has a consensus rating of “Hold” and an average price target of $51.43.

NewJersey Resources Company Profile

New Jersey Resources Corporation, an energy services holding company, distributes natural gas. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Storage and Transportation. The Natural Gas Distribution segment offers regulated natural gas utility services to approximately 576,000 customers in Burlington, Middlesex, Monmouth, Morris, Ocean, and Sussex counties in New Jersey; provides capacity and storage management services; and participates in the off-system sales and capacity release markets.