NewJersey Resources Corporation $NJR Stock Position Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in NewJersey Resources Corporation (NYSE:NJR) by 1.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,063,084 shares of the utilities provider’s stock after selling 17,816 shares during the quarter. Bank of New York Mellon Corp’s holdings in NewJersey Resources were worth $58,385,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of NewJersey Resources in the 4th quarter worth about $60,075,000. Millennium Management LLC boosted its holdings in shares of NewJersey Resources by 895.7% in the 3rd quarter. Millennium Management LLC now owns 677,352 shares of the utilities provider’s stock valued at $32,614,000 after buying an additional 609,323 shares during the period. Dimensional Fund Advisors LP grew its position in shares of NewJersey Resources by 10.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,934,165 shares of the utilities provider’s stock valued at $181,446,000 after buying an additional 367,844 shares during the last quarter. Qube Research & Technologies Ltd raised its stake in NewJersey Resources by 77.1% during the second quarter. Qube Research & Technologies Ltd now owns 730,300 shares of the utilities provider’s stock worth $32,732,000 after acquiring an additional 317,932 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in NewJersey Resources during the third quarter worth about $13,351,000. 70.98% of the stock is currently owned by institutional investors.

NewJersey Resources Stock Performance

Shares of NYSE NJR opened at $59.38 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.80 and a debt-to-equity ratio of 1.24. The stock has a 50 day simple moving average of $56.60 and a 200-day simple moving average of $54.37. The company has a market cap of $5.99 billion, a PE ratio of 17.62 and a beta of 0.50. NewJersey Resources Corporation has a 12-month low of $43.46 and a 12-month high of $60.69.

NewJersey Resources (NYSE:NJR) last posted its earnings results on Monday, May 4th. The utilities provider reported $2.20 EPS for the quarter, beating the consensus estimate of $1.89 by $0.31. The firm had revenue of $939.40 million for the quarter, compared to analysts’ expectations of $849.95 million. NewJersey Resources had a return on equity of 14.58% and a net margin of 15.67%.The firm’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm earned $1.78 EPS. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. On average, equities research analysts forecast that NewJersey Resources Corporation will post 3.58 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on NJR shares. Mizuho lifted their target price on NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, April 21st. Argus set a $63.00 price objective on NewJersey Resources in a research report on Wednesday, May 20th. Weiss Ratings upgraded NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. Finally, Wells Fargo & Company initiated coverage on NewJersey Resources in a research report on Tuesday, May 12th. They issued an “overweight” rating and a $63.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $58.17.

Insider Activity at NewJersey Resources

In other NewJersey Resources news, insider Christopher T. D’antuono sold 1,150 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $57.34, for a total transaction of $65,941.00. Following the transaction, the insider owned 2,985 shares of the company’s stock, valued at approximately $171,159.90. This trade represents a 27.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Patrick J. Migliaccio sold 3,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $55.84, for a total transaction of $167,520.00. Following the sale, the chief operating officer owned 35,202 shares in the company, valued at $1,965,679.68. This trade represents a 7.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,150 shares of company stock worth $682,261 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

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.