NewJersey Resources Corporation $NJR Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in shares of NewJersey Resources Corporation (NYSE:NJR) by 1.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 owned approximately 1.05% of NewJersey Resources worth $58,385,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in NJR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in NewJersey Resources by 6.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,363 shares of the utilities provider’s stock worth $2,912,000 after buying an additional 3,422 shares during the last quarter. NewEdge Advisors LLC increased its position in NewJersey Resources by 65.7% during the first quarter. NewEdge Advisors LLC now owns 22,214 shares of the utilities provider’s stock worth $1,090,000 after purchasing an additional 8,808 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in NewJersey Resources by 10.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 320,113 shares of the utilities provider’s stock worth $15,705,000 after purchasing an additional 29,458 shares during the period. Jane Street Group LLC purchased a new position in NewJersey Resources during the first quarter worth approximately $8,907,000. Finally, Invesco Ltd. boosted its holdings in shares of NewJersey Resources by 14.4% in the 2nd quarter. Invesco Ltd. now owns 465,923 shares of the utilities provider’s stock valued at $20,883,000 after purchasing an additional 58,795 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NJR. Weiss Ratings upgraded NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. Mizuho upped their price target on NewJersey Resources from $54.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 21st. Wells Fargo & Company initiated coverage on NewJersey Resources in a report on Tuesday, May 12th. They issued an “overweight” rating and a $63.00 price objective on the stock. Finally, Argus set a $63.00 price objective on NewJersey Resources in a report on Wednesday, May 20th. Two investment 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, NewJersey Resources has a consensus rating of “Buy” and a consensus target price of $58.17.

NewJersey Resources Stock Up 0.9%

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

NewJersey Resources (NYSE:NJR) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. The company 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 quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.78 earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. Research analysts anticipate that NewJersey Resources Corporation will post 3.58 EPS for the current fiscal year.

Insider Activity

In other NewJersey Resources news, insider Christopher T. D’antuono sold 1,150 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $57.34, for a total value of $65,941.00. Following the completion of the transaction, the insider directly owned 2,985 shares of the company’s stock, valued at $171,159.90. This represents a 27.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 completion of the transaction, the director owned 21,998 shares in the company, valued at approximately $1,234,087.80. This trade represents a 26.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,150 shares of company stock worth $682,261 over the last 90 days. Company insiders own 0.70% of the company’s stock.

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.