Caisse de depot et placement du Quebec Takes $29.91 Million Position in NewJersey Resources Corporation $NJR

Caisse de depot et placement du Quebec bought a new stake in NewJersey Resources Corporation (NYSE:NJR) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 533,628 shares of the utilities provider’s stock, valued at approximately $29,905,000.

Other large investors also recently bought and sold shares of the company. Jupiter Topco LLC purchased a new stake in NewJersey Resources during the second quarter valued at $2,540,000. Hsbc Holdings PLC grew its stake in shares of NewJersey Resources by 7.3% in the 2nd quarter. Hsbc Holdings PLC now owns 60,652 shares of the utilities provider’s stock worth $3,417,000 after buying an additional 4,116 shares in the last quarter. Legal & General Group Plc grew its stake in shares of NewJersey Resources by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 313,053 shares of the utilities provider’s stock worth $17,543,000 after buying an additional 21,142 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of NewJersey Resources by 17.6% in the 2nd quarter. Jones Financial Companies Lllp now owns 3,114 shares of the utilities provider’s stock worth $179,000 after buying an additional 466 shares during the last quarter. Finally, Fiduciary Financial Advisors bought a new stake in shares of NewJersey Resources in the 2nd quarter worth about $51,000. Institutional investors own 70.98% of the company’s stock.

Insider Activity

In related news, COO Patrick J. Migliaccio sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $55.63, for a total transaction of $166,890.00. Following the completion of the sale, the chief operating officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on NJR shares. Wells Fargo & Company cut shares of NewJersey Resources from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $63.00 to $61.00 in a research report on Wednesday, August 5th. Weiss Ratings lowered NewJersey Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Finally, Argus set a $63.00 price objective on NewJersey Resources in a research note 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $57.83.

NewJersey Resources Stock Performance

NewJersey Resources stock opened at $53.49 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.66 and a quick ratio of 0.45. 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 Corporation has a 1-year low of $43.46 and a 1-year high of $60.86. The company’s 50-day moving average is $56.73 and its 200 day moving average is $55.69.

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

NewJersey Resources 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.