Healthcare of Ontario Pension Plan Trust Fund Increases Stake in NewJersey Resources Corporation $NJR

Healthcare of Ontario Pension Plan Trust Fund boosted its position in NewJersey Resources Corporation (NYSE:NJR) by 112.0% during the first quarter, HoldingsChannel reports. The fund owned 66,487 shares of the utilities provider’s stock after buying an additional 35,128 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in NewJersey Resources were worth $3,651,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NJR. Hilltop Holdings Inc. boosted its position in NewJersey Resources by 13.3% during the first quarter. Hilltop Holdings Inc. now owns 7,416 shares of the utilities provider’s stock worth $407,000 after purchasing an additional 872 shares during the period. Sei Investments Co. raised its position in shares of NewJersey Resources by 8.3% in the first quarter. Sei Investments Co. now owns 92,243 shares of the utilities provider’s stock valued at $5,066,000 after purchasing an additional 7,105 shares during the period. Lido Advisors LLC purchased a new stake in shares of NewJersey Resources during the 1st quarter valued at approximately $229,000. Cetera Investment Advisers boosted its holdings in NewJersey Resources by 0.6% in the 1st quarter. Cetera Investment Advisers now owns 57,676 shares of the utilities provider’s stock worth $3,168,000 after buying an additional 371 shares during the period. Finally, Meeder Advisory Services Inc. grew its stake in NewJersey Resources by 18.4% in the 1st quarter. Meeder Advisory Services Inc. now owns 7,794 shares of the utilities provider’s stock valued at $428,000 after buying an additional 1,210 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NJR shares. Mizuho boosted their target price on shares of NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, April 21st. Argus set a $63.00 price target on NewJersey Resources in a research report on Wednesday, May 20th. Wells Fargo & Company began coverage on NewJersey Resources in a research note on Tuesday, May 12th. They set an “overweight” rating and a $63.00 price objective on the stock. Finally, Weiss Ratings raised NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $58.17.

NewJersey Resources Stock Performance

NewJersey Resources stock opened at $58.56 on Friday. NewJersey Resources Corporation has a 1-year low of $43.46 and a 1-year high of $60.86. The company has a current ratio of 0.94, a quick ratio of 0.80 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $5.91 billion, a PE ratio of 17.38 and a beta of 0.50. The firm’s 50 day simple moving average is $56.79 and its 200 day simple moving average is $54.84.

NewJersey Resources (NYSE:NJR) last announced its quarterly 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. The firm had revenue of $939.40 million during the quarter, compared to the consensus estimate of $849.95 million. NewJersey Resources had a net margin of 15.67% and a return on equity of 14.58%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm earned $1.78 EPS. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. As a group, analysts expect that NewJersey Resources Corporation will post 3.58 earnings per share for the current fiscal year.

Insider Activity at NewJersey Resources

In other NewJersey Resources news, Director Jane M. Kenny sold 8,000 shares of the firm’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 owned 21,998 shares of the company’s stock, valued at $1,234,087.80. This trade represents a 26.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christopher T. D’antuono sold 1,150 shares of the firm’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 sale, the insider directly owned 2,985 shares in the company, valued at approximately $171,159.90. The trade was a 27.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 12,150 shares of company stock valued at $682,261. 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.