Alps Advisors Inc. Purchases 42,185 Shares of NewJersey Resources Corporation $NJR

Alps Advisors Inc. increased its position in shares of NewJersey Resources Corporation (NYSE:NJR) by 142.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,836 shares of the utilities provider’s stock after acquiring an additional 42,185 shares during the quarter. Alps Advisors Inc.’s holdings in NewJersey Resources were worth $3,459,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its position in NewJersey Resources by 60.1% during 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 period. Tradewinds Capital Management LLC bought a new stake in shares of NewJersey Resources during the third quarter worth approximately $30,000. Cullen Frost Bankers Inc. lifted its holdings in NewJersey Resources by 153.0% in the second quarter. Cullen Frost Bankers Inc. now owns 754 shares of the utilities provider’s stock valued at $34,000 after buying an additional 456 shares during the period. EverSource Wealth Advisors LLC boosted its stake in NewJersey Resources by 259.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,203 shares of the utilities provider’s stock valued at $54,000 after acquiring an additional 868 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in NewJersey Resources during the 2nd quarter worth $54,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NewJersey Resources

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 4,017 shares of NewJersey Resources stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $46.46, for a total value of $186,629.82. Following the sale, the chief operating officer owned 38,065 shares of the company’s stock, valued at $1,768,499.90. This trade represents a 9.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NJR shares. Weiss Ratings reissued a “hold (c+)” rating on shares of NewJersey Resources in a research note on Monday, December 29th. New Street Research set a $54.00 target price on NewJersey Resources in a research note on Wednesday, December 17th. Mizuho upgraded NewJersey Resources from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $51.00 to $54.00 in a research report on Wednesday, December 17th. Argus raised NewJersey Resources to a “strong-buy” rating in a research note on Thursday, January 22nd. Finally, Williams Trading set a $55.00 price objective on shares of NewJersey Resources in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.00.

NewJersey Resources Trading Down 1.3%

NYSE NJR opened at $51.74 on Tuesday. NewJersey Resources Corporation has a one year low of $43.46 and a one year high of $53.65. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.83 and a quick ratio of 0.58. The firm has a market cap of $5.22 billion, a P/E ratio of 16.02 and a beta of 0.60. The stock’s 50-day moving average is $47.37 and its 200-day moving average is $46.88.

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

NewJersey Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 11th will be paid a $0.475 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $1.90 dividend on an annualized basis and a yield of 3.7%. NewJersey Resources’s dividend payout ratio is presently 58.82%.

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.