SummitTX Capital L.P. Takes $595,000 Position in NewJersey Resources Corporation $NJR

SummitTX Capital L.P. purchased a new stake in NewJersey Resources Corporation (NYSE:NJR) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 10,840 shares of the utilities provider’s stock, valued at approximately $595,000.

A number of other large investors have also recently bought and sold shares of NJR. Root Financial Partners LLC increased its stake in NewJersey Resources by 56.5% in the first quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 190 shares during the period. Measured Wealth Private Client Group LLC purchased a new stake in shares of NewJersey Resources in the third quarter valued at about $28,000. Torren Management LLC acquired a new stake in shares of NewJersey Resources during the fourth quarter worth about $35,000. CENTRAL TRUST Co grew its holdings in shares of NewJersey Resources by 172.7% during the first quarter. CENTRAL TRUST Co now owns 818 shares of the utilities provider’s stock worth $45,000 after buying an additional 518 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of NewJersey Resources by 118.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 933 shares of the utilities provider’s stock worth $43,000 after buying an additional 505 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

NJR has been the subject of several analyst reports. Mizuho upped their price objective on NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, April 21st. Argus set a $63.00 target price on NewJersey Resources in a research note 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 initiated coverage on NewJersey Resources in a report on Tuesday, May 12th. They issued an “overweight” rating and a $63.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $58.17.

Insider Transactions at NewJersey Resources

In other 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 stock was 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 of the company’s stock, valued at $171,159.90. This trade represents a 27.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jane M. Kenny sold 8,000 shares of NewJersey Resources stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $56.10, for a total value of $448,800.00. Following the completion of the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 12,150 shares of company stock valued at $682,261. Corporate insiders own 0.70% of the company’s stock.

NewJersey Resources Stock Down 1.2%

Shares of NYSE:NJR opened at $57.86 on Friday. The company has a market cap of $5.84 billion, a price-to-earnings ratio of 17.17 and a beta of 0.50. The firm’s 50-day simple moving average is $56.80 and its 200-day simple moving average is $54.86. 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 $60.86.

NewJersey Resources (NYSE:NJR) last issued its quarterly earnings results on Monday, May 4th. The utilities provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. The business had revenue of $939.40 million for the quarter, compared to analyst estimates of $849.95 million. NewJersey Resources had a net margin of 15.67% and a return on equity of 14.58%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.78 earnings per share. 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 year.

NewJersey Resources 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.