BlackRock Inc. Invests $1.01 Billion in NewJersey Resources Corporation $NJR

Key Points

• BlackRock acquired 17.99 million shares of NewJersey Resources in the second quarter, valued at approximately $1.01 billion and representing a 17.73% stake. Institutional investors collectively own 70.98% of the company.
• 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 issued fiscal 2026 EPS guidance of $3.52–$3.62.
• NJR shares opened at $53.76, down 2.0%, while analysts maintain a consensus “Buy” rating and a $57.83 target price. Wells Fargo downgraded the stock to “Equal Weight” and reduced its target to $61.

BlackRock Inc. acquired a new stake in NewJersey Resources Corporation (NYSE:NJR - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 17,993,218 shares of the utilities provider's stock, valued at approximately $1,008,340,000. BlackRock Inc. owned approximately 17.73% of NewJersey Resources as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in shares of 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 worth $227,447,000 after acquiring an additional 207,165 shares during the last quarter. Geode Capital Management LLC lifted its holdings in NewJersey Resources by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,629,373 shares of the utilities provider's stock valued at $121,285,000 after buying an additional 10,448 shares during the period. Northern Trust Corp increased its holdings in NewJersey Resources by 1.1% in the third quarter. Northern Trust Corp now owns 1,335,344 shares of the utilities provider's stock worth $64,297,000 after purchasing an additional 14,512 shares in the last quarter. Norges Bank acquired a new position in NewJersey Resources in the fourth quarter valued at approximately $60,075,000. Finally, Morgan Stanley raised its holdings in shares of NewJersey Resources by 19.4% during the fourth quarter. Morgan Stanley now owns 1,283,533 shares of the utilities provider's stock valued at $59,197,000 after purchasing an additional 208,388 shares during the period. Institutional investors own 70.98% of the company's stock.

NewJersey Resources Stock Down 2.0%

NJR stock opened at $53.76 on Friday. The business's 50-day moving average price is $56.83 and its 200-day moving average price is $55.61. The stock has a market cap of $5.46 billion, a P/E ratio of 14.85 and a beta of 0.50. 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 Corporation has a twelve month low of $43.46 and a twelve month high of $60.86.

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

Insiders Place Their Bets

In related news, 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 value of $166,890.00. Following the completion of the sale, the chief operating officer directly owned 32,202 shares in the company, valued at $1,791,397.26. This trade represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Weiss Ratings downgraded NewJersey Resources from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. Argus set a $63.00 price objective on shares of NewJersey Resources in a research note on Wednesday, May 20th. Finally, Wells Fargo & Company downgraded 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. One 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 stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $57.83.

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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