Massachusetts Financial Services Co. MA Raises Holdings in NewJersey Resources Corporation $NJR

Massachusetts Financial Services Co. MA lifted its holdings in shares of NewJersey Resources Corporation (NYSE:NJR) by 1.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 690,179 shares of the utilities provider’s stock after acquiring an additional 12,335 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.69% of NewJersey Resources worth $31,831,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Measured Wealth Private Client Group LLC purchased a new stake in shares of NewJersey Resources during the third quarter worth about $28,000. Bessemer Group Inc. grew its stake in shares of NewJersey Resources by 60.1% during the third quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 230 shares during the last quarter. Tradewinds Capital Management LLC purchased a new stake in shares of NewJersey Resources during the third quarter worth about $30,000. Neo Ivy Capital Management purchased a new stake in shares of NewJersey Resources during the third quarter worth about $48,000. Finally, Parallel Advisors LLC grew its stake in shares of NewJersey Resources by 56.9% during the third quarter. Parallel Advisors LLC now owns 1,001 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 363 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

NewJersey Resources Price Performance

Shares of NYSE NJR opened at $55.92 on Thursday. The business’s 50 day moving average price is $54.43 and its 200 day moving average price is $49.42. The firm has a market cap of $5.64 billion, a P/E ratio of 17.31 and a beta of 0.55. NewJersey Resources Corporation has a 52 week low of $43.46 and a 52 week high of $57.70. The company has a quick ratio of 0.58, a current ratio of 0.83 and a debt-to-equity ratio of 1.32.

NewJersey Resources (NYSE:NJR) last announced its quarterly earnings results on Monday, February 2nd. The utilities provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. NewJersey Resources had a return on equity of 13.06% and a net margin of 15.18%.The company had revenue of $604.85 million during the quarter, compared to the consensus estimate of $546.90 million. During the same period in the previous year, the company posted $1.29 earnings per share. NewJersey Resources’s revenue for the quarter was up 23.8% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.280-3.43 EPS. On average, sell-side analysts expect that NewJersey Resources Corporation will post 3.15 earnings per share for the current year.

NewJersey Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th will be paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, June 10th. NewJersey Resources’s dividend payout ratio is presently 58.82%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Mizuho upgraded NewJersey Resources from a “neutral” rating to an “outperform” rating and upped their target price for the company from $51.00 to $54.00 in a research report on Wednesday, December 17th. Weiss Ratings upgraded NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 13th. Williams Trading set a $55.00 target price on NewJersey Resources in a research report on Tuesday, February 3rd. Wall Street Zen upgraded NewJersey Resources from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, New Street Research set a $54.00 target price on NewJersey Resources in a research report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $53.33.

Insider Activity at NewJersey Resources

In other news, CFO Roberto Bel sold 6,105 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $55.10, for a total transaction of $336,385.50. Following the completion of the transaction, the chief financial officer directly owned 19,780 shares of the company’s stock, valued at $1,089,878. This represents a 23.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Richard Reich sold 5,449 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $52.99, for a total value of $288,742.51. Following the transaction, the senior vice president directly owned 26,975 shares of the company’s stock, valued at approximately $1,429,405.25. The trade was a 16.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.70% of the company’s stock.

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.