Ieq Capital LLC Increases Stake in NewJersey Resources Corporation $NJR

Ieq Capital LLC raised its holdings in shares of NewJersey Resources Corporation (NYSE:NJR) by 217.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 43,205 shares of the utilities provider’s stock after purchasing an additional 29,585 shares during the quarter. Ieq Capital LLC’s holdings in NewJersey Resources were worth $2,421,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NJR. Root Financial Partners LLC boosted its position in NewJersey Resources by 56.5% during the first quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 190 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new position in NewJersey Resources in the 3rd quarter worth approximately $28,000. Essential Partners LLC lifted its stake in NewJersey Resources by 67.3% in the 2nd quarter. Essential Partners LLC now owns 686 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 276 shares in the last quarter. Torren Management LLC acquired a new position in shares of NewJersey Resources during the 4th quarter worth approximately $35,000. Finally, CENTRAL TRUST Co boosted its holdings in shares of NewJersey Resources by 172.7% during the 1st quarter. CENTRAL TRUST Co now owns 818 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 518 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

NewJersey Resources Stock Up 0.2%

Shares of NJR opened at $53.84 on Wednesday. The company’s 50-day moving average price is $56.79 and its 200 day moving average price is $55.68. NewJersey Resources Corporation has a 12-month low of $43.46 and a 12-month high of $60.86. The company has a current ratio of 0.66, a quick ratio of 0.45 and a debt-to-equity ratio of 1.21. The firm has a market cap of $5.46 billion, a P/E ratio of 14.87 and a beta of 0.50.

NewJersey Resources (NYSE:NJR) last announced its earnings results on Monday, August 3rd. The utilities provider reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. NewJersey Resources had a net margin of 16.42% and a return on equity of 14.46%. The company had revenue of $349.18 million during the quarter, compared to analyst estimates of $342.13 million. During the same quarter last year, the firm posted ($0.15) earnings per share. NewJersey Resources’s revenue was up 16.8% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. On average, sell-side analysts forecast that NewJersey Resources Corporation will post 3.59 earnings per share for the current year.

Insider Activity at NewJersey Resources

In related news, COO Patrick J. Migliaccio sold 3,000 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $55.63, for a total transaction of $166,890.00. Following the completion of the transaction, the chief operating officer owned 32,202 shares of the company’s stock, valued at approximately $1,791,397.26. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wells Fargo & Company cut NewJersey Resources from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $63.00 to $61.00 in a report on Wednesday, August 5th. Argus set a $63.00 price objective on NewJersey Resources in a research note on Wednesday, May 20th. Finally, Weiss Ratings cut NewJersey Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $57.83.

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.