Peapack Gladstone Financial Corp Increases Holdings in NewJersey Resources Corporation $NJR

Peapack Gladstone Financial Corp lifted its position in NewJersey Resources Corporation (NYSE:NJR) by 89.4% in the 4th quarter, HoldingsChannel reports. The firm owned 36,941 shares of the utilities provider’s stock after purchasing an additional 17,437 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in NewJersey Resources were worth $1,703,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of NewJersey Resources by 3.8% in the third quarter. Dimensional Fund Advisors LP now owns 3,566,321 shares of the utilities provider’s stock worth $171,717,000 after purchasing an additional 130,831 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of NewJersey Resources by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,629,373 shares of the utilities provider’s stock worth $121,285,000 after purchasing an additional 10,448 shares during the last quarter. Northern Trust Corp raised its stake in shares of NewJersey Resources by 1.1% in the third quarter. Northern Trust Corp now owns 1,335,344 shares of the utilities provider’s stock worth $64,297,000 after purchasing an additional 14,512 shares during the last quarter. Norges Bank purchased a new position in shares of NewJersey Resources in the fourth quarter worth about $60,075,000. Finally, First Trust Advisors LP raised its stake in shares of NewJersey Resources by 10.7% in the third quarter. First Trust Advisors LP now owns 1,158,719 shares of the utilities provider’s stock worth $55,792,000 after purchasing an additional 111,696 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

NewJersey Resources Stock Down 0.2%

NewJersey Resources stock opened at $53.94 on Thursday. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of 16.01 and a beta of 0.50. NewJersey Resources Corporation has a 52 week low of $43.46 and a 52 week high of $58.57. The business’s 50-day moving average price is $55.97 and its 200 day moving average price is $51.79. The company has a quick ratio of 0.80, a current ratio of 0.94 and a debt-to-equity ratio of 1.24.

NewJersey Resources (NYSE:NJR) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $2.20 EPS for the quarter, beating the consensus estimate of $1.89 by $0.31. NewJersey Resources had a return on equity of 14.58% and a net margin of 15.67%.The company had revenue of $939.40 million for the quarter, compared to analyst estimates of $849.95 million. During the same period last year, the company earned $1.78 earnings per share. NewJersey Resources’s quarterly revenue 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. As a group, sell-side analysts anticipate that NewJersey Resources Corporation will post 3.5 earnings per share for the current year.

NewJersey Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th will be issued a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, June 10th. NewJersey Resources’s dividend payout ratio (DPR) is presently 56.38%.

Insider Buying and Selling

In other NewJersey Resources news, insider Christopher T. D’antuono sold 1,150 shares of the firm’s stock in a transaction that occurred 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 sale, the insider directly owned 2,985 shares of the company’s stock, valued at approximately $171,159.90. This trade represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Patrick J. Migliaccio sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were 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 directly 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. The disclosure for this sale is available in the SEC filing. Insiders sold 23,704 shares of company stock valued at $1,307,389 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NJR. Weiss Ratings upgraded NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. Wall Street Zen raised NewJersey Resources from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Wells Fargo & Company initiated 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. Mizuho raised their target price on NewJersey Resources from $54.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, April 21st. Finally, Argus set a $63.00 target price on NewJersey Resources in a report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $58.17.

NewJersey Resources 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.