Energy Income Partners LLC Invests $78.59 Million in NewJersey Resources Corporation $NJR

Key Points

• Energy Income Partners acquired 1.4 million NewJersey Resources shares worth approximately $78.6 million, giving it a 1.38% stake. Institutional investors collectively own nearly 71% of NJR.
• NewJersey Resources exceeded quarterly expectations, reporting $0.11 in EPS versus the $0.06 consensus and $349.2 million in revenue, up 16.8% year over year. Management guided to fiscal 2026 EPS of $3.52–$3.62.
• Analysts maintain a generally positive view, with an average “Buy” rating and a $57.83 consensus price target, although Wells Fargo downgraded the stock to “Equal Weight.” NJR recently traded at $55.59.

Energy Income Partners LLC purchased a new stake in shares of NewJersey Resources Corporation (NYSE:NJR - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,402,434 shares of the utilities provider's stock, valued at approximately $78,592,000. Energy Income Partners LLC owned approximately 1.38% of NewJersey Resources at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of NJR. BlackRock Inc. bought a new position in NewJersey Resources during the 2nd quarter valued at about $1,008,340,000. Dimensional Fund Advisors LP raised its holdings 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 valued at $227,447,000 after purchasing an additional 207,165 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of NewJersey Resources by 0.4% during 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 purchasing an additional 10,448 shares during the last quarter. Northern Trust Corp lifted its position in NewJersey Resources by 1.1% during the third quarter. Northern Trust Corp now owns 1,335,344 shares of the utilities provider's stock valued at $64,297,000 after purchasing an additional 14,512 shares during the period. Finally, Norges Bank purchased a new stake in NewJersey Resources in the fourth quarter worth approximately $60,075,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

NewJersey Resources Stock Performance

NYSE:NJR opened at $55.59 on Wednesday. The stock has a 50-day simple moving average of $56.85 and a two-hundred day simple moving average of $55.55. NewJersey Resources Corporation has a 52-week low of $43.46 and a 52-week high of $60.86. 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 firm has a market capitalization of $5.64 billion, a PE ratio of 15.36 and a beta of 0.50.

NewJersey Resources (NYSE:NJR - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The utilities provider reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. The firm had revenue of $349.18 million for the quarter, compared to the consensus estimate 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 quarter last year, the company earned ($0.15) earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. Analysts forecast that NewJersey Resources Corporation will post 3.59 EPS for the current year.

Insider Activity at NewJersey Resources

In related news, COO Patrick J. Migliaccio sold 3,000 shares of NewJersey Resources 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 owned 32,202 shares in the company, valued at approximately $1,791,397.26. The trade was a 8.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 completion of the transaction, the insider directly owned 2,985 shares of the company's stock, valued at $171,159.90. This represents 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 insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on NJR shares. Weiss Ratings downgraded shares of NewJersey Resources from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, August 6th. Mizuho raised their price target on NewJersey Resources from $54.00 to $61.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 21st. Wells Fargo & Company lowered NewJersey Resources from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $63.00 to $61.00 in a report on Wednesday, August 5th. Finally, Argus set a $63.00 price objective on NewJersey Resources in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, NewJersey Resources currently has an average rating of "Buy" and a consensus 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.

Want to see what other hedge funds are holding NJR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NewJersey Resources Corporation (NYSE:NJR - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source