Bank of America Corp DE Increases Stock Position in NewJersey Resources Corporation $NJR

Key Points

• Bank of America increased its NewJersey Resources stake by 37.4% in the first quarter, adding 102,730 shares to own 377,377 shares valued at approximately $20.7 million. Institutional investors collectively hold 70.98% of NJR stock.
• NewJersey Resources reported quarterly EPS of $0.11, exceeding the $0.06 consensus estimate, while revenue rose 16.8% year over year to $349.18 million. The company provided fiscal 2026 EPS guidance of $3.52 to $3.62.
• NJR shares opened at $55.59, with analysts maintaining a consensus “Buy” rating and an average price target of $57.83. Meanwhile, two company insiders sold shares, reducing their respective holdings.

Bank of America Corp DE increased its position in NewJersey Resources Corporation (NYSE:NJR - Free Report) by 37.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 377,377 shares of the utilities provider's stock after buying an additional 102,730 shares during the period. Bank of America Corp DE owned 0.37% of NewJersey Resources worth $20,726,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NJR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in NewJersey Resources by 6.1% during the 1st 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 in the last quarter. NewEdge Advisors LLC raised its holdings in shares of NewJersey Resources by 65.7% in the first quarter. NewEdge Advisors LLC now owns 22,214 shares of the utilities provider's stock worth $1,090,000 after buying an additional 8,808 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of NewJersey Resources by 10.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 320,113 shares of the utilities provider's stock worth $15,705,000 after buying an additional 29,458 shares during the period. Jane Street Group LLC acquired a new stake in shares of NewJersey Resources during the first quarter worth $8,907,000. Finally, Invesco Ltd. grew its holdings 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 last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insider Activity at NewJersey Resources

In other news, COO Patrick J. Migliaccio sold 3,000 shares of the company's stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher T. D'antuono sold 1,150 shares of the company's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $57.34, for a total transaction of $65,941.00. Following the transaction, the insider owned 2,985 shares of the company's stock, valued at approximately $171,159.90. The trade was a 27.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.70% of the stock is owned by corporate insiders.

NewJersey Resources Stock Up 1.1%

NYSE NJR opened at $55.59 on Wednesday. The business has a fifty day moving average price of $56.85 and a 200 day moving average price of $55.55. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.45 and a current ratio of 0.66. The company has a market cap of $5.64 billion, a P/E ratio of 15.36 and a beta of 0.50. NewJersey Resources Corporation has a one year low of $43.46 and a one year high of $60.86.

NewJersey Resources (NYSE:NJR - Get Free Report) last issued its earnings results on Monday, August 3rd. The utilities provider reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. The business had revenue of $349.18 million for the quarter, compared to analysts' expectations of $342.13 million. NewJersey Resources had a return on equity of 14.46% and a net margin of 16.42%.The business's revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.15) EPS. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. Research analysts anticipate that NewJersey Resources Corporation will post 3.59 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on NJR. Argus set a $63.00 target price on NewJersey Resources in a research report on Wednesday, May 20th. Mizuho lifted their price target on NewJersey Resources from $54.00 to $61.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 21st. Weiss Ratings downgraded NewJersey Resources from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. Finally, Wells Fargo & Company cut NewJersey Resources from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $63.00 to $61.00 in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price 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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