Thrivent Financial for Lutherans Grows Stock Position in NewJersey Resources Corporation $NJR

Thrivent Financial for Lutherans raised its stake in shares of NewJersey Resources Corporation (NYSE:NJR) by 20.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 85,817 shares of the utilities provider’s stock after buying an additional 14,373 shares during the period. Thrivent Financial for Lutherans owned about 0.09% of NewJersey Resources worth $3,958,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Measured Wealth Private Client Group LLC purchased a new position in shares of NewJersey Resources during the 3rd quarter valued at about $28,000. Bessemer Group Inc. raised its stake in shares of 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 buying an additional 230 shares during the last quarter. Torren Management LLC purchased a new position in shares of NewJersey Resources during the 4th quarter valued at about $35,000. Neo Ivy Capital Management purchased a new position in shares of NewJersey Resources during the 3rd quarter valued at about $48,000. Finally, Parallel Advisors LLC raised its stake in shares of NewJersey Resources by 56.9% during the 3rd quarter. Parallel Advisors LLC now owns 1,001 shares of the utilities provider’s stock valued at $48,000 after buying an additional 363 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

NewJersey Resources Price Performance

NYSE:NJR opened at $57.24 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 quick ratio of 0.80, a current ratio of 0.94 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $5.78 billion, a PE ratio of 16.98 and a beta of 0.51. The stock’s 50-day moving average price is $55.73 and its 200-day moving average price is $51.19.

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

NewJersey Resources Announces Dividend

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

Insider Transactions at NewJersey Resources

In related news, Director Jane M. Kenny sold 8,000 shares of NewJersey Resources stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $56.10, for a total value of $448,800.00. Following the sale, the director directly owned 21,998 shares in the company, valued at approximately $1,234,087.80. The trade was a 26.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Patrick J. Migliaccio sold 3,000 shares of NewJersey Resources stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $55.84, for a total value of $167,520.00. Following the completion of the sale, the chief operating officer owned 35,202 shares in the company, valued at approximately $1,965,679.68. The trade was a 7.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 22,554 shares of company stock valued at $1,241,448. 0.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Williams Trading set a $55.00 price objective on NewJersey Resources in a research note on Tuesday, February 3rd. Raymond James Financial restated an “outperform” rating on shares of NewJersey Resources in a research report on Tuesday, February 3rd. Wells Fargo & Company assumed coverage on NewJersey Resources in a research report on Tuesday, May 12th. They set an “overweight” rating and a $63.00 target price on the stock. Wall Street Zen upgraded NewJersey Resources from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of NewJersey Resources in a research report on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $57.14.

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.