Geode Capital Management LLC Has $121.29 Million Stock Holdings in NewJersey Resources Corporation $NJR

Geode Capital Management LLC increased its stake in NewJersey Resources Corporation (NYSE:NJR) by 0.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,629,373 shares of the utilities provider’s stock after buying an additional 10,448 shares during the period. Geode Capital Management LLC’s holdings in NewJersey Resources were worth $121,285,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Millennium Management LLC increased its holdings in NewJersey Resources by 895.7% in the third quarter. Millennium Management LLC now owns 677,352 shares of the utilities provider’s stock worth $32,614,000 after purchasing an additional 609,323 shares in the last quarter. Qube Research & Technologies Ltd increased 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 worth $32,732,000 after purchasing an additional 317,932 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in NewJersey Resources in the third quarter worth approximately $13,351,000. Victory Capital Management Inc. increased its holdings in NewJersey Resources by 68.2% in the third quarter. Victory Capital Management Inc. now owns 610,166 shares of the utilities provider’s stock worth $29,379,000 after purchasing an additional 247,310 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in NewJersey Resources by 104.0% in the third quarter. Two Sigma Investments LP now owns 392,264 shares of the utilities provider’s stock worth $18,888,000 after purchasing an additional 200,024 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Christopher T. D’antuono sold 1,150 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $57.34, for a total value of $65,941.00. Following the completion of the transaction, the insider owned 2,985 shares in the company, valued at $171,159.90. The trade was a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Roberto Bel sold 6,105 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $55.10, for a total value of $336,385.50. Following the completion of the transaction, the chief financial officer owned 19,780 shares of the company’s stock, valued at $1,089,878. This represents a 23.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 23,704 shares of company stock worth $1,307,389 over the last quarter. Company insiders own 0.70% of the company’s stock.

NewJersey Resources Stock Up 1.3%

Shares of NJR opened at $55.35 on Friday. The firm has a market cap of $5.59 billion, a P/E ratio of 16.42 and a beta of 0.50. The stock has a 50 day simple moving average of $56.01 and a two-hundred day simple moving average of $51.88. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.80. NewJersey Resources Corporation has a 1 year low of $43.46 and a 1 year high of $58.57.

NewJersey Resources (NYSE:NJR) last posted its quarterly earnings results on Monday, May 4th. The utilities provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.31. NewJersey Resources had a return on equity of 14.58% and a net margin of 15.67%.The business had revenue of $939.40 million for the quarter, compared to analyst estimates of $849.95 million. During the same period last year, the company earned $1.78 EPS. NewJersey Resources’s revenue for the quarter was up 2.9% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. On average, analysts forecast that NewJersey Resources Corporation will post 3.5 earnings per share for the current fiscal year.

NewJersey Resources Dividend Announcement

The company 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 $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Wednesday, June 10th. NewJersey Resources’s dividend payout ratio (DPR) is presently 56.38%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Argus set a $63.00 price objective on NewJersey Resources in a report on Wednesday, May 20th. Wall Street Zen upgraded NewJersey Resources from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Mizuho boosted their price objective on NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, April 21st. Weiss Ratings upgraded NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. Finally, Wells Fargo & Company assumed coverage on NewJersey Resources in a report on Tuesday, May 12th. They set an “overweight” rating and a $63.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $58.17.

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.