Royal London Asset Management Ltd. Lowers Stock Holdings in NewJersey Resources Corporation $NJR

Royal London Asset Management Ltd. lowered its position in shares of NewJersey Resources Corporation (NYSE:NJR) by 1.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 830,283 shares of the utilities provider’s stock after selling 9,869 shares during the quarter. Royal London Asset Management Ltd.’s holdings in NewJersey Resources were worth $46,529,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its holdings in shares of NewJersey Resources by 29.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 46,535 shares of the utilities provider’s stock valued at $2,146,000 after buying an additional 10,666 shares in the last quarter. World Investment Advisors bought a new stake in NewJersey Resources in the 4th quarter worth approximately $1,924,000. Norges Bank purchased a new stake in NewJersey Resources in the fourth quarter worth approximately $60,075,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in NewJersey Resources by 112.0% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 66,487 shares of the utilities provider’s stock worth $3,651,000 after buying an additional 35,128 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in NewJersey Resources by 613.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 179,425 shares of the utilities provider’s stock valued at $9,854,000 after acquiring an additional 154,288 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on NJR. Weiss Ratings downgraded shares of NewJersey Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Wells Fargo & Company cut shares of NewJersey Resources from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $63.00 to $61.00 in a research note on Wednesday, August 5th. Finally, Argus set a $63.00 target price on shares of NewJersey Resources in a research report on Wednesday, May 20th. One research 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $57.83.

NewJersey Resources Trading Down 0.5%

NYSE NJR opened at $53.49 on Friday. 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. The stock has a 50-day moving average of $56.73 and a 200-day moving average of $55.69. The firm has a market cap of $5.43 billion, a PE ratio of 14.78 and a beta of 0.50.

NewJersey Resources (NYSE:NJR) last posted its quarterly earnings results on Monday, August 3rd. The utilities provider reported $0.11 earnings per share (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 business had revenue of $349.18 million for the quarter, compared to analyst estimates of $342.13 million. During the same period last year, the company earned ($0.15) EPS. 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. As a group, sell-side analysts forecast that NewJersey Resources Corporation will post 3.59 EPS for the current year.

Insider Buying and Selling

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 3,000 shares of the stock in a transaction on Friday, August 14th. The shares were 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 of the company’s stock, valued at $1,791,397.26. This represents a 8.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.70% of the stock is owned by corporate insiders.

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.