Energy Income Partners LLC Sells 430,223 Shares of NewJersey Resources Corporation $NJR

Energy Income Partners LLC cut its stake in shares of NewJersey Resources Corporation (NYSE:NJR) by 23.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,416,001 shares of the utilities provider’s stock after selling 430,223 shares during the period. NewJersey Resources makes up approximately 1.3% of Energy Income Partners LLC’s investment portfolio, making the stock its 29th largest holding. Energy Income Partners LLC owned about 1.40% of NewJersey Resources worth $77,767,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NJR. Measured Wealth Private Client Group LLC acquired a new position in NewJersey Resources in the third quarter valued at about $28,000. Root Financial Partners LLC grew its position in shares of NewJersey Resources by 56.5% during the 1st quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider’s stock worth $29,000 after buying an additional 190 shares during the period. Torren Management LLC bought a new stake in shares of NewJersey Resources in the 4th quarter valued at about $35,000. Smartleaf Asset Management LLC raised its position in shares of NewJersey Resources by 118.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 933 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 505 shares during the period. Finally, CENTRAL TRUST Co boosted its stake in NewJersey Resources by 172.7% during the 1st quarter. CENTRAL TRUST Co now owns 818 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 518 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Activity

In other news, Director Jane M. Kenny sold 8,000 shares of the business’s 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 $1,234,087.80. The trade was a 26.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christopher T. D’antuono sold 1,150 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $57.34, for a total value of $65,941.00. Following the transaction, the insider owned 2,985 shares of the company’s stock, valued at approximately $171,159.90. The trade was a 27.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,150 shares of company stock worth $682,261 over the last three months. Corporate insiders own 0.70% of the company’s stock.

NewJersey Resources Stock Down 0.9%

Shares of NJR stock opened at $59.51 on Tuesday. NewJersey Resources Corporation has a 12-month low of $43.46 and a 12-month high of $60.69. 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 firm has a fifty day moving average of $56.69 and a 200-day moving average of $54.57. The company has a market capitalization of $6.01 billion, a price-to-earnings ratio of 17.66 and a beta of 0.50.

NewJersey Resources (NYSE:NJR) last posted 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. The business had revenue of $939.40 million for the quarter, compared to analysts’ expectations 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 period in the previous year, the firm posted $1.78 EPS. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. As a group, equities research analysts predict that NewJersey Resources Corporation will post 3.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on NJR. Weiss Ratings raised shares of NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. Argus set a $63.00 price objective on shares of NewJersey Resources in a research report on Wednesday, May 20th. 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 assumed coverage on NewJersey Resources in a research note on Tuesday, May 12th. They issued an “overweight” rating and a $63.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $58.17.

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.