Should You Invest in New Jersey Resources Corporation (NJR)?

Investment management company First Pacific Advisors recently released its “FPA Queens Road Small Cap Value Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 12.47% compared to an  8.42% return for the Russell 2000 Value Index. The fund delivered a -9.16% return in 2022 compared to a -14.48% return for the Russell 2000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

FPA Queens Road Small Cap Value Fund highlighted stocks New Jersey Resources Corporation (NYSE:NJR) in the Q4 2022 investor letter. Based in Wall, New Jersey, New Jersey Resources Corporation (NYSE:NJR) is an an energy services holding company. On February 7, 2023, New Jersey Resources Corporation (NYSE:NJR) stock closed at $52.49 per share. One-month return of New Jersey Resources Corporation (NYSE:NJR) was 2.76%, and its shares gained 29.64% of their value over the last 52 weeks. New Jersey Resources Corporation (NYSE:NJR) has a market capitalization of $5.062 billion.

FPA Queens Road Small Cap Value Fund made the following comment about New Jersey Resources Corporation (NYSE:NJR) in its Q4 2022 investor letter:

New Jersey Resources Corporation (NYSE:NJR) is a regulated gas utility for Southern New Jersey. The company has slowly and prudently diversified into midstream, solar, marketing and services while continuing to grow the core utility. Shares performed well on the back of successive strong earnings reports and improved guidance.”

Photo by Max Bender on Unsplash

New Jersey Resources Corporation (NYSE:NJR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 10 hedge fund portfolios held New Jersey Resources Corporation (NYSE:NJR) at the end of the third quarter, which was 8 in the previous quarter.

We discussed New Jersey Resources Corporation (NYSE:NJR) in another article and shared First Pacific Advisors’ views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.