NewJersey Resources Corporation $NJR Position Lessened by First Trust Advisors LP

First Trust Advisors LP lowered its stake in shares of NewJersey Resources Corporation (NYSE:NJR) by 13.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 925,204 shares of the utilities provider’s stock after selling 141,061 shares during the quarter. First Trust Advisors LP owned approximately 0.92% of NewJersey Resources worth $50,812,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Root Financial Partners LLC boosted its holdings in shares of NewJersey Resources by 56.5% during the first quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 190 shares during the period. Fifth Third Bancorp increased its holdings in shares of NewJersey Resources by 19.1% in the 4th quarter. Fifth Third Bancorp now owns 1,311 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 210 shares during the period. US Bancorp DE increased its holdings in shares of NewJersey Resources by 7.9% in the 3rd quarter. US Bancorp DE now owns 3,127 shares of the utilities provider’s stock worth $151,000 after acquiring an additional 228 shares during the period. Parallel Advisors LLC lifted its position in NewJersey Resources by 42.3% in the 1st quarter. Parallel Advisors LLC now owns 985 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 293 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in NewJersey Resources by 2.3% in the 3rd quarter. NewEdge Advisors LLC now owns 13,009 shares of the utilities provider’s stock valued at $626,000 after purchasing an additional 298 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

NewJersey Resources Stock Performance

NJR stock opened at $59.96 on Monday. The company has a 50-day simple moving average of $56.65 and a 200 day simple moving average of $54.47. The company has a market capitalization of $6.05 billion, a P/E ratio of 17.79 and a beta of 0.50. The company has a quick ratio of 0.80, a current ratio of 0.94 and a debt-to-equity ratio of 1.24. NewJersey Resources Corporation has a fifty-two week low of $43.46 and a fifty-two week high of $60.69.

NewJersey Resources (NYSE:NJR) last released 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. NewJersey Resources had a net margin of 15.67% and a return on equity of 14.58%. The firm had revenue of $939.40 million for the quarter, compared to analysts’ expectations of $849.95 million. During the same quarter last year, the company earned $1.78 EPS. NewJersey Resources’s quarterly revenue was up 2.9% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. Sell-side analysts predict that NewJersey Resources Corporation will post 3.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on NJR. Mizuho upped their target price on shares of NewJersey Resources from $54.00 to $61.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 21st. 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 report on Wednesday, May 27th. Finally, Wells Fargo & Company assumed coverage on NewJersey Resources in a research report on Tuesday, May 12th. They set an “overweight” rating and a $63.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating and three have issued 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.

Insider Activity

In related news, insider Christopher T. D’antuono sold 1,150 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $171,159.90. This trade represents a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Patrick J. Migliaccio sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $55.84, for a total value 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. The trade was a 7.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,150 shares of company stock worth $682,261 over the last three months. Corporate insiders own 0.70% of the company’s stock.

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.