10,840 Shares in NewJersey Resources Corporation $NJR Purchased by SummitTX Capital L.P.

SummitTX Capital L.P. bought a new position in shares of NewJersey Resources Corporation (NYSE:NJR) during the 1st quarter, Holdings Channel reports. The firm bought 10,840 shares of the utilities provider’s stock, valued at approximately $595,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Root Financial Partners LLC grew its holdings in shares of NewJersey Resources by 56.5% in the 1st 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 period. Measured Wealth Private Client Group LLC purchased a new position in NewJersey Resources in the 3rd quarter valued at approximately $28,000. Torren Management LLC acquired a new position in NewJersey Resources during the fourth quarter worth $35,000. CENTRAL TRUST Co raised its holdings in 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 purchasing an additional 518 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in 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 purchasing an additional 505 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

NewJersey Resources Price Performance

Shares of NYSE:NJR opened at $57.86 on Friday. The business’s fifty day moving average price is $56.80 and its two-hundred day moving average price is $54.86. The stock has a market cap of $5.84 billion, a PE ratio of 17.17 and a beta of 0.50. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.80 and a current ratio of 0.94. NewJersey Resources Corporation has a one year low of $43.46 and a one year high of $60.86.

NewJersey Resources (NYSE:NJR) last released its quarterly earnings results on Monday, May 4th. The utilities provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.31. NewJersey Resources had a return on equity of 14.58% and a net margin of 15.67%.The company had revenue of $939.40 million during the quarter, compared to the consensus estimate of $849.95 million. During the same quarter last year, the business posted $1.78 earnings per share. NewJersey Resources’s revenue was up 2.9% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. On average, analysts forecast that NewJersey Resources Corporation will post 3.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NJR has been the topic of several research reports. Argus set a $63.00 target price on NewJersey Resources in a report on Wednesday, May 20th. Wells Fargo & Company started coverage on shares of NewJersey Resources in a research report on Tuesday, May 12th. They issued an “overweight” rating and a $63.00 price objective on the stock. Weiss Ratings raised shares of NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. Finally, Mizuho raised 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. Two research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $58.17.

Insider Activity at NewJersey Resources

In related news, COO Patrick J. Migliaccio sold 3,000 shares of NewJersey Resources stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $55.84, for a total transaction of $167,520.00. Following the completion of the sale, the chief operating officer owned 35,202 shares in the company, valued at approximately $1,965,679.68. This trade represents a 7.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Christopher T. D’antuono sold 1,150 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $57.34, for a total transaction of $65,941.00. Following the completion of the transaction, the insider directly owned 2,985 shares of the company’s stock, valued at $171,159.90. The trade was a 27.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,150 shares of company stock valued at $682,261 over the last quarter. 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.