Legal & General Group Plc Acquires 21,142 Shares of NewJersey Resources Corporation $NJR

Key Points

• Legal & General increased its NewJersey Resources stake by 7.2%, purchasing 21,142 shares to hold 313,053 shares valued at approximately $17.5 million. Institutional investors collectively own 70.98% of NJR.
• NewJersey Resources exceeded quarterly expectations, reporting $0.11 in EPS versus a $0.06 consensus estimate and $349.18 million in revenue, up 16.8% year over year. Management reaffirmed FY 2026 EPS guidance of $3.52–$3.62.
• Analysts maintain a generally positive outlook, with the stock carrying an average “Buy” rating and a consensus price target of $57.83, although Wells Fargo downgraded it to “equal weight” and lowered its target to $61.

Legal & General Group Plc lifted its holdings in shares of NewJersey Resources Corporation (NYSE:NJR - Free Report) by 7.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 313,053 shares of the utilities provider's stock after purchasing an additional 21,142 shares during the quarter. Legal & General Group Plc owned approximately 0.31% of NewJersey Resources worth $17,543,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Measured Wealth Private Client Group LLC bought a new stake in NewJersey Resources in the third quarter worth $28,000. Root Financial Partners LLC raised its holdings in 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 in the last quarter. Essential Partners LLC lifted its position in shares of NewJersey Resources by 67.3% in the second quarter. Essential Partners LLC now owns 686 shares of the utilities provider's stock worth $38,000 after buying an additional 276 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of NewJersey Resources by 118.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 933 shares of the utilities provider's stock worth $43,000 after buying an additional 505 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its stake in shares of NewJersey Resources by 172.7% during the 1st quarter. CENTRAL TRUST Co now owns 818 shares of the utilities provider's stock worth $45,000 after acquiring an additional 518 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

NewJersey Resources Stock Performance

NYSE NJR opened at $53.49 on Monday. The stock has a market cap of $5.43 billion, a P/E ratio of 14.78 and a beta of 0.50. The company's 50-day simple moving average is $56.73 and its 200 day simple moving average is $55.72. NewJersey Resources Corporation has a twelve month low of $43.46 and a twelve month high of $60.86. 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 (NYSE:NJR - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The utilities provider reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.05. The firm had revenue of $349.18 million during the quarter, compared to analysts' expectations of $342.13 million. NewJersey Resources had a net margin of 16.42% and a return on equity of 14.46%. The company'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. As a group, research analysts forecast that NewJersey Resources Corporation will post 3.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NJR shares. Argus set a $63.00 price objective on NewJersey Resources in a report on Wednesday, May 20th. Wells Fargo & Company downgraded shares of NewJersey Resources from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $63.00 to $61.00 in a report on Wednesday, August 5th. Finally, Weiss Ratings lowered NewJersey Resources from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $57.83.

Insider Activity

In other news, COO Patrick J. Migliaccio sold 3,000 shares of the business's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $55.63, for a total value of $166,890.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.70% of the company's stock.

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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