United Capital Financial Advisors LLC Invests $1.11 Million in NewJersey Resources Corporation $NJR

United Capital Financial Advisors LLC purchased a new stake in shares of NewJersey Resources Corporation (NYSE:NJR) during the second quarter, HoldingsChannel reports. The fund purchased 19,856 shares of the utilities provider’s stock, valued at approximately $1,113,000.

Several other large investors have also made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in NewJersey Resources by 6.1% during 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 acquiring an additional 3,422 shares in the last quarter. NewEdge Advisors LLC lifted its stake in NewJersey Resources by 65.7% in the 1st quarter. NewEdge Advisors LLC now owns 22,214 shares of the utilities provider’s stock worth $1,090,000 after purchasing an additional 8,808 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of NewJersey Resources by 10.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 320,113 shares of the utilities provider’s stock valued at $15,705,000 after purchasing an additional 29,458 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of NewJersey Resources during the first quarter valued at about $8,907,000. Finally, Invesco Ltd. increased its holdings in shares of NewJersey Resources by 14.4% in the second quarter. Invesco Ltd. now owns 465,923 shares of the utilities provider’s stock worth $20,883,000 after purchasing an additional 58,795 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NJR. Weiss Ratings downgraded NewJersey Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Wells Fargo & Company lowered shares of NewJersey Resources from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $63.00 to $61.00 in a report on Wednesday, August 5th. Finally, Argus set a $63.00 price target on shares of NewJersey Resources in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $57.83.

NewJersey Resources Stock Down 0.5%

NYSE:NJR opened at $53.49 on Friday. NewJersey Resources Corporation has a twelve month low of $43.46 and a twelve month high of $60.86. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 14.78 and a beta of 0.50. The stock has a fifty day simple moving average of $56.73 and a 200-day simple moving average of $55.69. The company has a current ratio of 0.66, a quick ratio of 0.45 and a debt-to-equity ratio of 1.21.

NewJersey Resources (NYSE:NJR) last announced its quarterly earnings data on Monday, August 3rd. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. NewJersey Resources had a return on equity of 14.46% and a net margin of 16.42%.The company had revenue of $349.18 million for the quarter, compared to analysts’ expectations of $342.13 million. During the same quarter in the prior year, the firm earned ($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. Analysts anticipate that NewJersey Resources Corporation will post 3.59 EPS for the current year.

Insider Activity at NewJersey Resources

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 3,000 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $55.63, for a total value of $166,890.00. Following the completion of the transaction, the chief operating officer directly owned 32,202 shares in the company, valued at approximately $1,791,397.26. The trade was a 8.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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.