Perigon Wealth Management LLC Invests $541,000 in NewJersey Resources Corporation $NJR

Perigon Wealth Management LLC purchased a new stake in shares of NewJersey Resources Corporation (NYSE:NJR) during the second quarter, Holdings Channel reports. The fund purchased 9,653 shares of the utilities provider’s stock, valued at approximately $541,000.

A number of other large investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in NewJersey Resources by 5.3% during the first quarter. Dimensional Fund Advisors LP now owns 4,141,330 shares of the utilities provider’s stock valued at $227,447,000 after buying an additional 207,165 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of NewJersey Resources by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,629,373 shares of the utilities provider’s stock valued at $121,285,000 after acquiring an additional 10,448 shares during the last quarter. Northern Trust Corp raised its stake in shares of NewJersey Resources by 1.1% in the 3rd quarter. Northern Trust Corp now owns 1,335,344 shares of the utilities provider’s stock valued at $64,297,000 after acquiring an additional 14,512 shares in the last quarter. Norges Bank bought a new position in shares of NewJersey Resources in the 4th quarter valued at approximately $60,075,000. Finally, Morgan Stanley lifted its holdings in NewJersey Resources by 19.4% in the 4th quarter. Morgan Stanley now owns 1,283,533 shares of the utilities provider’s stock worth $59,197,000 after purchasing an additional 208,388 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

NewJersey Resources Stock Performance

Shares of NYSE NJR opened at $55.13 on Thursday. NewJersey Resources Corporation has a 12 month low of $43.46 and a 12 month high of $60.86. The company has a market cap of $5.59 billion, a P/E ratio of 15.23 and a beta of 0.50. The business’s 50 day moving average is $56.85 and its two-hundred day moving average is $55.59. The company has a quick ratio of 0.45, a current ratio of 0.66 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 earnings per share for the quarter, beating 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 company had revenue of $349.18 million during the quarter, compared to analysts’ expectations of $342.13 million. During the same period in the prior year, the business earned ($0.15) earnings per share. NewJersey Resources’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, equities analysts expect that NewJersey Resources Corporation will post 3.59 EPS for the current year.

Insiders Place Their Bets

In other NewJersey Resources news, insider Christopher T. D’antuono sold 1,150 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $57.34, for a total value of $65,941.00. Following the completion of the sale, the insider directly owned 2,985 shares of the company’s stock, valued at $171,159.90. This represents a 27.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Patrick J. Migliaccio sold 3,000 shares of the firm’s stock in a transaction 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 owned 32,202 shares in the company, valued at $1,791,397.26. This represents a 8.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Weiss Ratings downgraded NewJersey Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Wells Fargo & Company downgraded shares of NewJersey Resources from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $63.00 to $61.00 in a report on Wednesday, August 5th. Finally, Argus set a $63.00 target price on shares of NewJersey Resources in a research note on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, NewJersey Resources currently has a consensus rating of “Buy” and a consensus 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.