Allianz Asset Management GmbH Buys 37,408 Shares of NewJersey Resources Corporation $NJR

Key Points

• Allianz Asset Management increased its NewJersey Resources stake by 23.1% in the second quarter, acquiring 37,408 shares and bringing its holdings to 199,226 shares valued at approximately $11.2 million. Institutional investors collectively own 70.98% of NJR.
• NewJersey Resources reported quarterly EPS of $0.11, beating the $0.06 analyst consensus, while revenue rose 16.8% year over year to $349.18 million. The company issued fiscal 2026 EPS guidance of $3.52–$3.62.
• Analysts maintain a consensus “Buy” rating with an average price target of $57.83, although Wells Fargo downgraded the stock to “equal weight” and cut its target to $61. NJR shares opened at $54.04, up 1.2%.

Allianz Asset Management GmbH boosted its position in shares of NewJersey Resources Corporation (NYSE:NJR - Free Report) by 23.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 199,226 shares of the utilities provider's stock after acquiring an additional 37,408 shares during the period. Allianz Asset Management GmbH owned 0.20% of NewJersey Resources worth $11,165,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in NJR. Root Financial Partners LLC boosted 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. Measured Wealth Private Client Group LLC bought a new stake in shares of NewJersey Resources in the third quarter worth about $28,000. Essential Partners LLC increased its holdings in shares of 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 purchasing an additional 276 shares during the last quarter. CENTRAL TRUST Co lifted its position in shares of NewJersey Resources by 172.7% in the first quarter. CENTRAL TRUST Co now owns 818 shares of the utilities provider's stock worth $45,000 after buying an additional 518 shares in the last quarter. Finally, Roxbury Financial LLC lifted its position in shares of NewJersey Resources by 72.9% in the second quarter. Roxbury Financial LLC now owns 885 shares of the utilities provider's stock worth $50,000 after buying an additional 373 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insider Buying and Selling

In other NewJersey Resources news, COO Patrick Migliaccio sold 3,000 shares of the company'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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

NewJersey Resources Stock Up 1.2%

Shares of NYSE:NJR opened at $54.04 on Wednesday. The firm has a market capitalization of $5.48 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 2.97 and a beta of 0.50. The business has a 50 day simple moving average of $56.35 and a two-hundred day simple moving average of $55.72. NewJersey Resources Corporation has a 1 year low of $43.46 and a 1 year high of $60.86. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.66 and a quick ratio of 0.45.

NewJersey Resources (NYSE:NJR - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The utilities provider reported $0.11 earnings per share (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 company had revenue of $349.18 million during the quarter, compared to analysts' expectations of $342.13 million. During the same quarter in the previous year, the business earned ($0.15) EPS. NewJersey Resources's 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. On average, equities analysts predict 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.

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