NewJersey Resources Corporation $NJR Stake Reduced by First Trust Advisors LP

First Trust Advisors LP trimmed its holdings in NewJersey Resources Corporation (NYSE:NJR) by 13.2% in the first quarter, Holdings Channel.com reports. The fund owned 925,204 shares of the utilities provider’s stock after selling 141,061 shares during the period. First Trust Advisors LP’s holdings in NewJersey Resources were worth $50,812,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in NJR. Meeder Advisory Services Inc. grew its stake in shares of NewJersey Resources by 18.4% in the 1st quarter. Meeder Advisory Services Inc. now owns 7,794 shares of the utilities provider’s stock worth $428,000 after purchasing an additional 1,210 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in NewJersey Resources by 5.3% during the first quarter. Dimensional Fund Advisors LP now owns 4,141,330 shares of the utilities provider’s stock valued at $227,447,000 after purchasing an additional 207,165 shares during the last quarter. Parallel Advisors LLC boosted its holdings in NewJersey Resources by 42.3% during the first quarter. Parallel Advisors LLC now owns 985 shares of the utilities provider’s stock worth $54,000 after buying an additional 293 shares in the last quarter. Swiss National Bank boosted its holdings in NewJersey Resources by 0.7% during the first quarter. Swiss National Bank now owns 199,400 shares of the utilities provider’s stock worth $10,951,000 after buying an additional 1,400 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in NewJersey Resources by 68.9% in the first quarter. Bessemer Group Inc. now owns 1,289 shares of the utilities provider’s stock worth $71,000 after buying an additional 526 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on NJR shares. Argus set a $63.00 price target on NewJersey Resources in a report on Wednesday, May 20th. Weiss Ratings raised NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. Mizuho lifted 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, Wells Fargo & Company began 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. Two equities research analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $58.17.

Insiders Place Their Bets

In other NewJersey Resources news, Director Jane M. Kenny sold 8,000 shares of NewJersey Resources stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $56.10, for a total transaction of $448,800.00. Following the transaction, 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 document filed with the SEC, which is accessible through this hyperlink. Also, COO Patrick J. Migliaccio sold 3,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $55.84, for a total transaction of $167,520.00. Following the sale, the chief operating officer directly owned 35,202 shares in the company, valued at approximately $1,965,679.68. This trade represents a 7.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 12,150 shares of company stock worth $682,261. Corporate insiders own 0.70% of the company’s stock.

NewJersey Resources Stock Performance

Shares of NJR opened at $59.96 on Monday. The company has a 50-day moving average of $56.65 and a two-hundred day moving average of $54.47. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of 17.79 and a beta of 0.50. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.80. NewJersey Resources Corporation has a one year low of $43.46 and a one year high of $60.69.

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

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.