NewJersey Resources Corporation $NJR Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its position in NewJersey Resources Corporation (NYSE:NJR) by 5.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 275,561 shares of the utilities provider’s stock after selling 15,072 shares during the period. California Public Employees Retirement System owned approximately 0.27% of NewJersey Resources worth $15,134,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in NewJersey Resources by 6.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,363 shares of the utilities provider’s stock valued at $2,912,000 after purchasing an additional 3,422 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of NewJersey Resources by 65.7% in the first quarter. NewEdge Advisors LLC now owns 22,214 shares of the utilities provider’s stock valued at $1,090,000 after buying an additional 8,808 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of NewJersey Resources by 10.1% during the 1st 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 buying an additional 29,458 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of NewJersey Resources during the 1st quarter worth $8,907,000. Finally, Invesco Ltd. boosted its position 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 worth $20,883,000 after buying an additional 58,795 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NewJersey Resources

In other news, COO Patrick J. Migliaccio sold 3,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $55.84, for a total transaction of $167,520.00. Following the transaction, the chief operating officer owned 35,202 shares of the company’s stock, valued at approximately $1,965,679.68. This trade represents a 7.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jane M. Kenny sold 8,000 shares of NewJersey Resources stock in a transaction on Friday, May 8th. The stock was sold at an average price of $56.10, for a total transaction of $448,800.00. Following the completion of the transaction, the director directly owned 21,998 shares of the company’s stock, valued at approximately $1,234,087.80. This represents a 26.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 12,150 shares of company stock valued at $682,261. Insiders own 0.70% of the company’s stock.

NewJersey Resources Stock Performance

Shares of NJR stock opened at $59.38 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.80 and a current ratio of 0.94. The firm has a market capitalization of $5.99 billion, a price-to-earnings ratio of 17.62 and a beta of 0.50. NewJersey Resources Corporation has a one year low of $43.46 and a one year high of $60.69. The company has a 50 day moving average price of $56.60 and a 200 day moving average price of $54.37.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in 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. 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 on the stock. Argus set a $63.00 target price on NewJersey Resources in a report on Wednesday, May 20th. Finally, Mizuho boosted their price target on NewJersey Resources from $54.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target 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.