Corient Private Wealth LP Purchases Shares of 63,279 NewJersey Resources Corporation $NJR

Corient Private Wealth LP acquired a new position in shares of NewJersey Resources Corporation (NYSE:NJR) in the 2nd quarter, Holdings Channel reports. The fund acquired 63,279 shares of the utilities provider’s stock, valued at approximately $3,546,000.

A number of other large investors have also added to or reduced their stakes in the company. Root Financial Partners LLC grew its holdings in shares of NewJersey Resources by 56.5% during the 1st quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 190 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of NewJersey Resources by 19.1% during the 4th quarter. Fifth Third Bancorp now owns 1,311 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 210 shares in the last quarter. US Bancorp DE grew its holdings in NewJersey Resources by 7.9% in the third quarter. US Bancorp DE now owns 3,127 shares of the utilities provider’s stock worth $151,000 after purchasing an additional 228 shares during the period. Essential Partners LLC boosted its holdings in NewJersey Resources by 67.3% in the second quarter. Essential Partners LLC now owns 686 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 276 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in NewJersey Resources by 25.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,391 shares of the utilities provider’s stock valued at $76,000 after purchasing an additional 280 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

NJR has been the subject of several recent analyst reports. Weiss Ratings cut NewJersey Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Wells Fargo & Company downgraded NewJersey Resources from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $63.00 to $61.00 in a research note on Wednesday, August 5th. Finally, Argus set a $63.00 price objective on NewJersey Resources in a 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 issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $57.83.

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 stock was sold at an average price of $55.63, for a total value of $166,890.00. Following the transaction, the chief operating officer owned 32,202 shares of the company’s stock, valued at $1,791,397.26. This trade represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is owned by company insiders.

NewJersey Resources Stock Up 1.3%

NJR opened at $54.06 on Wednesday. The firm’s 50 day simple moving average is $56.66 and its two-hundred day simple moving average is $55.73. The company has a market capitalization of $5.49 billion, a PE ratio of 14.93 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 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 posted its quarterly earnings data on Monday, August 3rd. The utilities provider reported $0.11 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 firm had revenue of $349.18 million during the quarter, compared to analyst estimates of $342.13 million. During the same period in the prior year, the business posted ($0.15) EPS. NewJersey Resources’s 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, equities analysts forecast that NewJersey Resources Corporation will post 3.59 EPS for the current year.

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.