Confluence Investment Management LLC Sells 29,349 Shares of NewJersey Resources Corporation $NJR

Key Points

• Confluence Investment Management reduced its NJR stake by 7%, selling 29,349 shares and retaining 387,609 shares valued at approximately $21.7 million. Institutional investors collectively own about 71% of the company.
• NewJersey Resources exceeded quarterly earnings expectations, reporting $0.11 EPS versus the $0.06 consensus estimate, while revenue increased 16.8% year over year. Fiscal 2026 earnings guidance was tightened to $3.52–$3.62 per share, above the $3.50 analyst consensus.
• Analyst sentiment remains positive: NJR has a consensus “Buy” rating and an average price target of $58.17, although recent insider selling—including 12,150 shares sold over 90 days—could temper investor enthusiasm.

Confluence Investment Management LLC lowered its stake in shares of NewJersey Resources Corporation (NYSE:NJR - Free Report) by 7.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 387,609 shares of the utilities provider's stock after selling 29,349 shares during the period. Confluence Investment Management LLC owned 0.38% of NewJersey Resources worth $21,722,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Measured Wealth Private Client Group LLC purchased a new position in shares of NewJersey Resources in the 3rd quarter valued at $28,000. Root Financial Partners LLC lifted its stake 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 worth $29,000 after purchasing an additional 190 shares during the last quarter. Torren Management LLC purchased a new stake in shares of NewJersey Resources during the 4th quarter worth $35,000. Smartleaf Asset Management LLC boosted its position in NewJersey Resources by 118.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 933 shares of the utilities provider's stock valued at $43,000 after purchasing an additional 505 shares in the last quarter. Finally, CENTRAL TRUST Co boosted its position in NewJersey Resources by 172.7% during the first quarter. CENTRAL TRUST Co now owns 818 shares of the utilities provider's stock valued at $45,000 after purchasing an additional 518 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NJR shares. Argus set a $63.00 target price on shares of NewJersey Resources in a report on Wednesday, May 20th. Wells Fargo & Company assumed coverage on shares of NewJersey Resources in a report on Tuesday, May 12th. They issued an "overweight" rating and a $63.00 price target on the stock. Weiss Ratings upgraded shares of NewJersey Resources from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 27th. Finally, Mizuho lifted their price objective on shares of NewJersey Resources from $54.00 to $61.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $58.17.

NewJersey Resources Stock Up 0.5%

NewJersey Resources stock opened at $58.15 on Tuesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.80. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of 17.26 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 has a fifty day moving average price of $56.82 and a 200-day moving average price of $54.99.

NewJersey Resources (NYSE:NJR - Get Free Report) last announced its earnings results on Monday, August 3rd. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. NewJersey Resources had a return on equity of 14.58% and a net margin of 15.67%.The company had revenue of $343.00 million for the quarter, compared to analyst estimates of $342.13 million. During the same period in the prior year, the company posted ($0.15) EPS. The firm'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. Equities research analysts forecast that NewJersey Resources Corporation will post 3.58 EPS for the current fiscal year.

Key Headlines Impacting NewJersey Resources

Here are the key news stories impacting NewJersey Resources this week:

• Positive Sentiment: Quarterly earnings beat estimates: Fiscal Q3 adjusted net financial earnings were $0.11 per share, compared with the $0.06 consensus estimate. GAAP net income was $9.7 million, or $0.10 per share, versus a $15.1 million loss, or $0.15 per share, in the prior-year quarter. New Jersey Resources Q3 Earnings and Revenues Beat Estimates
• Positive Sentiment: Revenue and year-to-date results improved: Quarterly operating revenue rose 16.8% year over year to $349.2 million. Through the first nine months of fiscal 2026, net income increased to $351.1 million, or $3.48 per share, from $320.6 million, or $3.20 per share. New Jersey Resources Reports Fiscal 2026 Third-Quarter Results
• Positive Sentiment: Full-year guidance remains above consensus: NJR tightened fiscal 2026 net financial earnings guidance to $3.52-$3.62 per share, compared with the $3.50 analyst consensus. The company also reported $577.8 million in year-to-date operating cash flow, supporting ongoing investment in its businesses. New Jersey Resources Tightens Fiscal 2026 Earnings Guidance
• Neutral Sentiment: Expansion continues: New Jersey Natural Gas served approximately 595,000 customers, while Clean Energy Ventures had about 537 megawatts of commercial solar capacity in service. Capital expenditures reached $553.0 million during the first nine months, indicating continued growth investment but also substantial spending.
• Negative Sentiment: Insider selling could temper enthusiasm: Recent filings cited six open-market insider sales over the past six months and no purchases. The reported transactions are not necessarily related to the earnings release, but they may be viewed cautiously by investors. New Jersey Resources Posts Fiscal Third Quarter Profit

Insider Transactions at NewJersey Resources

In other news, insider Christopher T. D'antuono sold 1,150 shares of the company's stock in a transaction dated Friday, May 22nd. The shares were 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 in the company, valued at $171,159.90. This represents a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Patrick J. Migliaccio sold 3,000 shares of NewJersey Resources stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $55.84, for a total transaction of $167,520.00. Following the completion of the sale, the chief operating officer owned 35,202 shares of the company's stock, valued at $1,965,679.68. This trade represents a 7.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 12,150 shares of company stock worth $682,261. Insiders own 0.70% of the company's stock.

NewJersey Resources Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.