Jefferies Financial Group Inc. Takes Position in NewJersey Resources Corporation $NJR

Jefferies Financial Group Inc. acquired a new position in shares of NewJersey Resources Corporation (NYSE:NJR) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 20,453 shares of the utilities provider’s stock, valued at approximately $1,146,000.

Several other hedge funds have also modified their holdings of the stock. BlackRock Inc. acquired a new position in NewJersey Resources during the second quarter worth approximately $1,008,340,000. Energy Income Partners LLC acquired a new position in shares of NewJersey Resources in the 2nd quarter valued at $78,592,000. Norges Bank purchased a new stake in shares of NewJersey Resources during the 4th quarter valued at $60,075,000. Bank of New York Mellon Corp purchased a new stake in shares of NewJersey Resources during the 2nd quarter valued at $57,722,000. Finally, Millennium Management LLC increased its holdings in shares of NewJersey Resources by 895.7% during the 3rd quarter. Millennium Management LLC now owns 677,352 shares of the utilities provider’s stock worth $32,614,000 after buying an additional 609,323 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

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 stock was sold at an average price of $55.63, for a total transaction of $166,890.00. Following the transaction, the chief operating officer owned 32,202 shares in the company, valued at $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 is available through this hyperlink. 0.70% of the stock is owned by company insiders.

NewJersey Resources Price Performance

NewJersey Resources stock opened at $53.49 on Monday. The firm has a fifty day moving average of $56.73 and a 200-day moving average of $55.72. NewJersey Resources Corporation has a 52-week low of $43.46 and a 52-week high of $60.86. The company has a quick ratio of 0.45, a current ratio of 0.66 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $5.43 billion, a P/E ratio of 14.78 and a beta of 0.50.

NewJersey Resources (NYSE:NJR) last posted its earnings results on Monday, August 3rd. The utilities provider reported $0.11 earnings per share for the quarter, beating 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 business had revenue of $349.18 million for the quarter, compared to analyst estimates of $342.13 million. During the same quarter in the previous year, the business posted ($0.15) EPS. The business’s quarterly revenue was up 16.8% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. As a group, analysts predict that NewJersey Resources Corporation will post 3.59 EPS for the current year.

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.