9,843 Shares in NewJersey Resources Corporation $NJR Bought by Equitable Holdings Inc.

Equitable Holdings Inc. purchased a new stake in shares of NewJersey Resources Corporation (NYSE:NJR) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 9,843 shares of the utilities provider’s stock, valued at approximately $552,000.

Several other institutional investors have also bought and sold shares of NJR. Jefferies Financial Group Inc. bought a new position in shares of NewJersey Resources in the 2nd quarter valued at about $1,146,000. Public Employees Retirement System of Ohio purchased a new stake in NewJersey Resources during the 2nd quarter valued at $91,000. Capstone Investment Advisors LLC purchased a new position in NewJersey Resources during the second quarter worth $852,000. Corient Private Wealth LP grew its holdings in NewJersey Resources by 9.2% during the 2nd quarter. Corient Private Wealth LP now owns 63,278 shares of the utilities provider’s stock valued at $3,546,000 after purchasing an additional 5,323 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of NewJersey Resources during the 2nd quarter worth approximately $22,628,000. Institutional investors own 70.98% of the company’s stock.

Insider Activity at NewJersey Resources

In other news, COO Patrick J. Migliaccio sold 3,000 shares of the firm’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 sale, the chief operating officer directly owned 32,202 shares in the company, valued at approximately $1,791,397.26. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

NewJersey Resources Stock Down 0.5%

NewJersey Resources stock opened at $53.49 on Friday. The business has a fifty day moving average of $56.73 and a two-hundred day moving average of $55.69. 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 cap of $5.43 billion, a P/E ratio of 14.78 and a beta of 0.50. NewJersey Resources Corporation has a twelve month low of $43.46 and a twelve month high of $60.86.

NewJersey Resources (NYSE:NJR) last issued its quarterly earnings data on Monday, August 3rd. The utilities provider reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $342.13 million. During the same quarter last year, the company earned ($0.15) earnings per share. The firm’s revenue for the quarter 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, analysts forecast that NewJersey Resources Corporation will post 3.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NJR has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered shares of NewJersey Resources from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $63.00 to $61.00 in a research note on Wednesday, August 5th. Argus set a $63.00 price target on shares of NewJersey Resources in a research note on Wednesday, May 20th. Finally, Weiss Ratings lowered shares of NewJersey Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. One research 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 stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price 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.