NewJersey Resources Corporation $NJR Shares Acquired by Algert Global LLC

Key Points

• Algert Global LLC nearly doubled its stake in NewJersey Resources during the second quarter, acquiring 160,110 additional shares for a total of 326,349 shares valued at approximately $18.3 million.
• Institutional investors and hedge funds own approximately 70.98% of NJR, while COO Patrick J. Migliaccio sold 3,000 shares worth $166,890 in August.
• NJR reported quarterly EPS of $0.11, beating estimates of $0.06, while revenue rose 16.8% year over year to $349.18 million. Analysts maintain a consensus “Buy” rating with a $57.83 price target, despite Wells Fargo recently downgrading the stock to “equal weight.”

Algert Global LLC lifted its stake in NewJersey Resources Corporation (NYSE:NJR - Free Report) by 96.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 326,349 shares of the utilities provider's stock after buying an additional 160,110 shares during the quarter. Algert Global LLC owned approximately 0.32% of NewJersey Resources worth $18,289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Measured Wealth Private Client Group LLC purchased a new position in NewJersey Resources during the third quarter valued at approximately $28,000. Root Financial Partners LLC boosted its position in NewJersey Resources by 56.5% in 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 in the last quarter. Torren Management LLC purchased a new stake in NewJersey Resources in the 4th quarter worth approximately $35,000. Essential Partners LLC boosted its position in NewJersey Resources by 67.3% in the 2nd quarter. Essential Partners LLC now owns 686 shares of the utilities provider's stock worth $38,000 after purchasing an additional 276 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of NewJersey Resources by 118.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 933 shares of the utilities provider's stock worth $43,000 after purchasing an additional 505 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions 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 value of $166,890.00. Following the sale, the chief operating officer owned 32,202 shares of the company's stock, valued at approximately $1,791,397.26. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NJR. Wells Fargo & Company lowered shares of NewJersey Resources from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $63.00 to $61.00 in a report on Wednesday, August 5th. Argus set a $63.00 price target on shares of NewJersey Resources in a report on Wednesday, May 20th. Finally, Weiss Ratings lowered shares of NewJersey Resources from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $57.83.

NewJersey Resources Stock Performance

NYSE NJR opened at $53.76 on Tuesday. The stock has a market capitalization of $5.46 billion, a price-to-earnings ratio of 14.85 and a beta of 0.50. The stock has a 50-day moving average of $56.81 and a 200 day moving average of $55.67. The company has a current ratio of 0.66, a quick ratio of 0.45 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 data on Monday, August 3rd. The utilities provider reported $0.11 EPS for the quarter, beating the consensus estimate of $0.06 by $0.05. The company had revenue of $349.18 million for 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 quarterly revenue was up 16.8% compared to the same quarter last year. During the same period last year, the company earned ($0.15) earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. Sell-side analysts anticipate that NewJersey Resources Corporation will post 3.59 EPS for the current fiscal year.

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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