NewJersey Resources Corporation $NJR Shares Sold by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC trimmed its stake in NewJersey Resources Corporation (NYSE:NJR) by 2.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 345,139 shares of the utilities provider’s stock after selling 10,466 shares during the period. Segall Bryant & Hamill LLC owned about 0.34% of NewJersey Resources worth $16,618,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in NJR. Bessemer Group Inc. increased its holdings in NewJersey Resources by 60.1% in the 3rd quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 230 shares during the last quarter. Tradewinds Capital Management LLC acquired a new stake in shares of NewJersey Resources in the third quarter valued at $30,000. EverSource Wealth Advisors LLC raised its holdings in shares of NewJersey Resources by 259.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,203 shares of the utilities provider’s stock valued at $54,000 after buying an additional 868 shares during the period. Daiwa Securities Group Inc. acquired a new position in NewJersey Resources during the 2nd quarter worth about $54,000. Finally, UMB Bank n.a. boosted its holdings in NewJersey Resources by 19.7% during the 3rd quarter. UMB Bank n.a. now owns 1,680 shares of the utilities provider’s stock valued at $81,000 after acquiring an additional 277 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

NewJersey Resources Trading Up 1.4%

NYSE NJR opened at $55.25 on Wednesday. NewJersey Resources Corporation has a 52 week low of $43.46 and a 52 week high of $55.32. The firm has a 50 day moving average of $49.83 and a two-hundred day moving average of $47.68. The company has a quick ratio of 0.58, a current ratio of 0.83 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $5.57 billion, a PE ratio of 17.11 and a beta of 0.57.

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

NewJersey Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th will be given 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, March 11th. NewJersey Resources’s dividend payout ratio (DPR) is 58.82%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Weiss Ratings upgraded shares of NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 13th. Mizuho raised shares of NewJersey Resources from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $51.00 to $54.00 in a research note on Wednesday, December 17th. Argus raised shares of NewJersey Resources to a “strong-buy” rating in a research report on Thursday, January 22nd. New Street Research set a $54.00 price objective on NewJersey Resources in a research report on Wednesday, December 17th. Finally, Williams Trading set a $55.00 price objective on NewJersey Resources in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.00.

Insiders Place Their Bets

In related news, COO Patrick J. Migliaccio sold 4,017 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $46.46, for a total value of $186,629.82. Following the completion of the transaction, the chief operating officer directly owned 38,065 shares of the company’s stock, valued at $1,768,499.90. This represents a 9.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by insiders.

About NewJersey Resources

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.