Hsbc Holdings PLC Sells 39,667 Shares of NewJersey Resources Corporation $NJR

Hsbc Holdings PLC cut its stake in NewJersey Resources Corporation (NYSE:NJR) by 41.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 56,536 shares of the utilities provider’s stock after selling 39,667 shares during the quarter. Hsbc Holdings PLC owned about 0.06% of NewJersey Resources worth $3,108,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in NewJersey Resources by 6.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,363 shares of the utilities provider’s stock worth $2,912,000 after purchasing an additional 3,422 shares during the period. NewEdge Advisors LLC grew its holdings in NewJersey Resources by 65.7% during the 1st quarter. NewEdge Advisors LLC now owns 22,214 shares of the utilities provider’s stock valued at $1,090,000 after buying an additional 8,808 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in NewJersey Resources by 10.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 320,113 shares of the utilities provider’s stock valued at $15,705,000 after buying an additional 29,458 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of NewJersey Resources during the first quarter valued at about $8,907,000. Finally, Invesco Ltd. increased its position in shares of NewJersey Resources by 14.4% during the second quarter. Invesco Ltd. now owns 465,923 shares of the utilities provider’s stock valued at $20,883,000 after buying an additional 58,795 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NJR has been the subject of a number of analyst reports. Mizuho raised their price objective on shares of NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, April 21st. Argus set a $63.00 target price on shares of NewJersey Resources in a report on Wednesday, May 20th. Weiss Ratings upgraded shares of NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. Finally, Wells Fargo & Company assumed coverage on shares of NewJersey Resources in a report on Tuesday, May 12th. They issued an “overweight” rating and a $63.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat.com, NewJersey Resources presently has a consensus rating of “Buy” and an average price target of $58.17.

NewJersey Resources Stock Performance

Shares of NJR opened at $59.96 on Friday. The company has a market cap of $6.05 billion, a PE ratio of 17.79 and a beta of 0.50. The company has a current ratio of 0.94, a quick ratio of 0.80 and a debt-to-equity ratio of 1.24. The stock has a 50-day moving average price of $56.65 and a 200-day moving average price of $54.41. NewJersey Resources Corporation has a 12-month low of $43.46 and a 12-month high of $60.69.

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

Insiders Place Their Bets

In other news, Director Jane M. Kenny sold 8,000 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $56.10, for a total transaction of $448,800.00. Following the sale, the director owned 21,998 shares in the company, valued at approximately $1,234,087.80. This trade represents a 26.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Patrick J. Migliaccio sold 3,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $55.84, for a total transaction of $167,520.00. Following 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 SEC filing for this sale provides additional information. Insiders sold a total of 12,150 shares of company stock valued at $682,261 in the last quarter. Corporate 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.