Healthcare of Ontario Pension Plan Trust Fund Has $3.65 Million Holdings in NewJersey Resources Corporation $NJR

Key Points

• Healthcare of Ontario Pension Plan Trust Fund more than doubled its NewJersey Resources stake by 112% in the first quarter, bringing its holdings to 66,487 shares valued at approximately $3.65 million. Institutional investors collectively own 70.98% of NJR.
• Analysts maintain a positive outlook, with NewJersey Resources carrying a consensus “Buy” rating and an average price target of $58.17; recent targets range as high as $63.
• NewJersey Resources reported quarterly EPS of $2.20, beating estimates of $1.89, while revenue reached $939.4 million. The stock opened at $58.56, near its 52-week high, though insiders have sold 12,150 shares worth $682,261 over the past three months.

Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in NewJersey Resources Corporation (NYSE:NJR - Free Report) by 112.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 66,487 shares of the utilities provider's stock after acquiring an additional 35,128 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.07% of NewJersey Resources worth $3,651,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NJR. Root Financial Partners LLC boosted its position in shares of NewJersey Resources by 56.5% during the first quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider's stock valued at $29,000 after buying an additional 190 shares during the last quarter. Fifth Third Bancorp raised its position in NewJersey Resources by 19.1% in the 4th quarter. Fifth Third Bancorp now owns 1,311 shares of the utilities provider's stock valued at $60,000 after buying an additional 210 shares during the last quarter. US Bancorp DE lifted its stake in NewJersey Resources by 7.9% during the 3rd quarter. US Bancorp DE now owns 3,127 shares of the utilities provider's stock valued at $151,000 after acquiring an additional 228 shares in the last quarter. Parallel Advisors LLC boosted its holdings in NewJersey Resources by 42.3% during the 1st quarter. Parallel Advisors LLC now owns 985 shares of the utilities provider's stock worth $54,000 after acquiring an additional 293 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in NewJersey Resources by 2.3% during the 3rd quarter. NewEdge Advisors LLC now owns 13,009 shares of the utilities provider's stock worth $626,000 after acquiring an additional 298 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NJR. 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 target price for the company. Argus set a $63.00 price target on shares of NewJersey Resources in a report on Wednesday, May 20th. Mizuho upped 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. Finally, Weiss Ratings upgraded shares of NewJersey Resources from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. According to data from MarketBeat, NewJersey Resources currently has an average rating of "Buy" and a consensus target price of $58.17.

NewJersey Resources Stock Down 1.5%

Shares of NYSE:NJR opened at $58.56 on Friday. NewJersey Resources Corporation has a 1 year low of $43.46 and a 1 year high of $60.86. The company has a market capitalization of $5.91 billion, a PE ratio of 17.38 and a beta of 0.50. The business has a fifty day moving average price of $56.79 and a two-hundred day moving average price of $54.84. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.80.

NewJersey Resources (NYSE:NJR - Get Free Report) last released its earnings results on Monday, May 4th. The utilities provider reported $2.20 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.31. The company had revenue of $939.40 million for the quarter, compared to analysts' expectations of $849.95 million. NewJersey Resources had a return on equity of 14.58% and a net margin of 15.67%.The business's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.78 EPS. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. Analysts forecast that NewJersey Resources Corporation will post 3.58 earnings per share for the current year.

Insider Buying and Selling at NewJersey Resources

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 3,000 shares of the business's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $55.84, for a total value of $167,520.00. Following the transaction, the chief operating officer directly owned 35,202 shares in the company, valued at $1,965,679.68. The trade was a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jane M. Kenny sold 8,000 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $56.10, for a total transaction of $448,800.00. Following the sale, the director owned 21,998 shares of the company's stock, valued at approximately $1,234,087.80. The trade was a 26.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 12,150 shares of company stock worth $682,261 over the last three months. 0.70% of the stock is currently owned by insiders.

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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