1,030,009 Shares in NewJersey Resources Corporation $NJR Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp purchased a new position in shares of NewJersey Resources Corporation (NYSE:NJR - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,030,009 shares of the utilities provider's stock, valued at approximately $57,722,000. Bank of New York Mellon Corp owned 1.02% of NewJersey Resources at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in NJR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of NewJersey Resources by 6.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,363 shares of the utilities provider's stock valued at $2,912,000 after buying an additional 3,422 shares during the period. NewEdge Advisors LLC raised 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 acquiring an additional 8,808 shares during the period. 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 purchased a new position in NewJersey Resources during the first quarter valued at approximately $8,907,000. Finally, Invesco Ltd. lifted its stake in NewJersey Resources by 14.4% in the 2nd quarter. Invesco Ltd. now owns 465,923 shares of the utilities provider's stock worth $20,883,000 after purchasing an additional 58,795 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insiders Place Their Bets

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 3,000 shares of the business's 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 transaction, the chief operating officer directly owned 32,202 shares of the company's stock, valued at approximately $1,791,397.26. The trade was a 8.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by company insiders.

NewJersey Resources Stock Up 1.2%

NYSE NJR opened at $54.46 on Thursday. 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 stock has a market capitalization of $5.53 billion, a PE ratio of 15.04 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 business's 50-day moving average is $56.78 and its 200 day moving average is $55.69.

NewJersey Resources (NYSE:NJR - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The utilities provider reported $0.11 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $342.13 million. During the same quarter in the prior year, the company posted ($0.15) EPS. NewJersey Resources's quarterly revenue 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. Sell-side analysts forecast that NewJersey Resources Corporation will post 3.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NJR has been the topic of a number of recent analyst reports. Argus set a $63.00 price objective on NewJersey Resources in a research report on Wednesday, May 20th. Wells Fargo & Company lowered NewJersey Resources from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $63.00 to $61.00 in a research note on Wednesday, August 5th. Finally, Weiss Ratings cut shares of NewJersey Resources from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, NewJersey Resources has an average rating of "Buy" and an average price target of $57.83.

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.

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