Hsbc Holdings PLC Sells 33,688 Shares of NewJersey Resources Corporation $NJR

Hsbc Holdings PLC lessened its position in NewJersey Resources Corporation (NYSE:NJR) by 25.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 96,203 shares of the utilities provider’s stock after selling 33,688 shares during the quarter. Hsbc Holdings PLC’s holdings in NewJersey Resources were worth $4,431,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Measured Wealth Private Client Group LLC bought a new position in shares of NewJersey Resources during the 3rd quarter worth approximately $28,000. Torren Management LLC bought a new stake in shares of NewJersey Resources in the fourth quarter worth $35,000. Smartleaf Asset Management LLC boosted its holdings in NewJersey Resources by 118.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 933 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 505 shares during the last quarter. Neo Ivy Capital Management acquired a new position in NewJersey Resources during the third quarter worth $48,000. Finally, Parallel Advisors LLC grew its position in NewJersey Resources by 56.9% in the third quarter. Parallel Advisors LLC now owns 1,001 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 363 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

NewJersey Resources Stock Performance

Shares of NJR stock opened at $57.49 on Friday. NewJersey Resources Corporation has a 52 week low of $43.46 and a 52 week high of $58.57. The company has a market capitalization of $5.80 billion, a price-to-earnings ratio of 17.06 and a beta of 0.50. The company has a 50-day simple moving average of $55.85 and a 200 day simple moving average of $52.75. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.80 and a current ratio of 0.94.

NewJersey Resources (NYSE:NJR) last issued its quarterly earnings data 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 net margin of 15.67% and a return on equity of 14.58%. The firm had revenue of $939.40 million during the quarter, compared to the consensus estimate of $849.95 million. During the same period last year, the business posted $1.78 earnings per share. The business’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, sell-side analysts predict that NewJersey Resources Corporation will post 3.57 earnings per share for the current year.

NewJersey Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th will be paid a $0.475 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $1.90 annualized dividend and a yield of 3.3%. NewJersey Resources’s payout ratio is 56.38%.

Insider Activity at NewJersey Resources

In other NewJersey Resources news, Director Jane M. Kenny sold 8,000 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $56.10, for a total value of $448,800.00. Following the transaction, the director directly owned 21,998 shares of the company’s stock, valued at $1,234,087.80. This represents a 26.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Christopher T. D’antuono sold 1,150 shares of the 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 transaction, the insider owned 2,985 shares in the company, valued at $171,159.90. The trade was a 27.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 12,150 shares of company stock worth $682,261 in the last ninety days. 0.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NJR. Weiss Ratings upgraded shares of NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. Argus set a $63.00 price objective on NewJersey Resources in a report on Wednesday, May 20th. Mizuho lifted their target price on NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, April 21st. Finally, Wells Fargo & Company began coverage on NewJersey Resources in a report on Tuesday, May 12th. They set an “overweight” rating and a $63.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently 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.