Benjamin Edwards Inc. Sells 15,431 Shares of NewJersey Resources Corporation $NJR

Benjamin Edwards Inc. trimmed its position in NewJersey Resources Corporation (NYSE:NJR) by 10.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 132,879 shares of the utilities provider’s stock after selling 15,431 shares during the period. Benjamin Edwards Inc.’s holdings in NewJersey Resources were worth $6,128,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in NewJersey Resources by 3.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,566,321 shares of the utilities provider’s stock valued at $171,717,000 after purchasing an additional 130,831 shares during the period. Northern Trust Corp boosted its holdings in NewJersey Resources by 1.1% in the 3rd quarter. Northern Trust Corp now owns 1,335,344 shares of the utilities provider’s stock valued at $64,297,000 after purchasing an additional 14,512 shares during the period. First Trust Advisors LP boosted its holdings in NewJersey Resources by 10.7% in the 3rd quarter. First Trust Advisors LP now owns 1,158,719 shares of the utilities provider’s stock valued at $55,792,000 after purchasing an additional 111,696 shares during the period. Energy Income Partners LLC boosted its holdings in NewJersey Resources by 19.1% in the 3rd quarter. Energy Income Partners LLC now owns 951,527 shares of the utilities provider’s stock valued at $45,816,000 after purchasing an additional 152,866 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in NewJersey Resources by 10.3% in the 3rd quarter. ProShare Advisors LLC now owns 916,606 shares of the utilities provider’s stock valued at $44,135,000 after purchasing an additional 85,297 shares during the period. 70.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NJR. Argus raised shares of NewJersey Resources to a “strong-buy” rating in a report on Thursday, January 22nd. Raymond James Financial reaffirmed an “outperform” rating on shares of NewJersey Resources in a report on Tuesday, February 3rd. Mizuho lifted their price objective on shares of NewJersey Resources from $54.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, April 21st. Wall Street Zen raised shares of NewJersey Resources from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Weiss Ratings raised shares of NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $54.50.

Insiders Place Their Bets

In related news, CFO Roberto Bel sold 6,105 shares of NewJersey Resources stock in a transaction on Monday, March 16th. The shares were sold at an average price of $55.10, for a total value of $336,385.50. Following the transaction, the chief financial officer owned 19,780 shares in the company, valued at $1,089,878. This trade represents a 23.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Richard Reich sold 5,449 shares of NewJersey Resources stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $52.99, for a total transaction of $288,742.51. Following the completion of the transaction, the senior vice president owned 26,975 shares in the company, valued at approximately $1,429,405.25. The trade was a 16.81% decrease in their position. The SEC filing for this sale provides additional information. 0.70% of the stock is owned by company insiders.

NewJersey Resources Stock Performance

NYSE NJR opened at $56.13 on Tuesday. The company has a market capitalization of $5.66 billion, a P/E ratio of 17.38 and a beta of 0.51. The company has a fifty day moving average of $55.01 and a 200-day moving average of $50.14. NewJersey Resources Corporation has a 52-week low of $43.46 and a 52-week high of $57.70. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.58 and a current ratio of 0.83.

NewJersey Resources (NYSE:NJR) last issued its earnings results on Monday, May 4th. The utilities provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. The company had revenue of $939.40 million for the quarter, compared to analysts’ expectations of $849.95 million. NewJersey Resources had a net margin of 15.18% and a return on equity of 13.06%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.78 EPS. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. As a group, equities research analysts predict that NewJersey Resources Corporation will post 3.39 EPS for the current fiscal year.

NewJersey Resources Dividend Announcement

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

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.