Peregrine Capital Management LLC Takes Position in NewJersey Resources Corporation $NJR

Peregrine Capital Management LLC acquired a new position in NewJersey Resources Corporation (NYSE:NJR) during the 3rd quarter, Holdings Channel reports. The fund acquired 112,093 shares of the utilities provider’s stock, valued at approximately $5,397,000.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in NewJersey Resources during the second quarter worth about $52,671,000. Energy Income Partners LLC increased its stake in shares of NewJersey Resources by 145.7% during the 2nd quarter. Energy Income Partners LLC now owns 798,661 shares of the utilities provider’s stock worth $35,796,000 after purchasing an additional 473,664 shares in the last quarter. Qube Research & Technologies Ltd raised its position in shares of NewJersey Resources by 77.1% during the 2nd 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 during the last quarter. Cubist Systematic Strategies LLC lifted its stake in NewJersey Resources by 127.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 347,620 shares of the utilities provider’s stock valued at $15,580,000 after buying an additional 194,836 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in NewJersey Resources during the 1st quarter valued at $8,907,000. 70.98% of the stock is owned by institutional investors and hedge funds.

NewJersey Resources Price Performance

NewJersey Resources stock opened at $46.48 on Friday. NewJersey Resources Corporation has a 1 year low of $43.46 and a 1 year high of $50.76. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.40 and a current ratio of 0.73. The firm has a 50 day moving average price of $46.30 and a 200 day moving average price of $46.34. The company has a market cap of $4.68 billion, a price-to-earnings ratio of 13.96 and a beta of 0.60.

NewJersey Resources (NYSE:NJR) last posted its quarterly earnings results on Wednesday, November 19th. The utilities provider reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $336.08 million for the quarter, compared to the consensus estimate of $307.30 million. NewJersey Resources had a net margin of 16.48% and a return on equity of 13.73%. NewJersey Resources’s revenue was down 15.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.030-3.180 EPS. Sell-side analysts predict that NewJersey Resources Corporation will post 3.15 earnings per share for the current year.

NewJersey Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 12th were paid a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, December 12th. NewJersey Resources’s payout ratio is currently 57.06%.

Insiders Place Their Bets

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 4,017 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $46.46, for a total transaction of $186,629.82. Following the completion of the sale, the chief operating officer directly owned 38,065 shares in the company, valued at $1,768,499.90. The trade was a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NJR has been the subject of a number of analyst reports. Wall Street Zen cut NewJersey Resources from a “hold” rating to a “sell” rating in a report on Sunday, December 28th. New Street Research set a $54.00 price objective on NewJersey Resources in a research report on Wednesday, December 17th. Weiss Ratings restated a “hold (c+)” rating on shares of NewJersey Resources in a report on Monday, December 29th. Mizuho raised shares of NewJersey Resources from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $51.00 to $54.00 in a research note on Wednesday, December 17th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $53.00 price objective on shares of NewJersey Resources in a research report on Thursday, November 20th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, NewJersey Resources currently has a consensus rating of “Hold” and a consensus price target of $52.86.

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.