NewJersey Resources Corporation $NJR Shares Acquired by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its NewJersey Resources stake by 217.2% in the second quarter, bringing its holdings to 43,205 shares valued at approximately $2.42 million. Institutional investors collectively own 70.98% of NJR.
• Analysts maintain a consensus “Buy” rating on the stock, with an average price target of $57.83, although Wells Fargo downgraded it to “equal weight” and cut its target to $61.
• NewJersey Resources beat quarterly earnings expectations, reporting $0.11 EPS versus a $0.06 estimate and 16.8% year-over-year revenue growth. The company projects fiscal 2026 EPS of $3.52 to $3.62.

Ieq Capital LLC lifted its position in NewJersey Resources Corporation (NYSE:NJR - Free Report) by 217.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,205 shares of the utilities provider's stock after purchasing an additional 29,585 shares during the quarter. Ieq Capital LLC's holdings in NewJersey Resources were worth $2,421,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of NJR. Allworth Financial LP lifted its stake in NewJersey Resources by 7.9% during the 2nd quarter. Allworth Financial LP now owns 14,805 shares of the utilities provider's stock valued at $830,000 after acquiring an additional 1,081 shares during the period. Vise Technologies Inc. raised its holdings in shares of NewJersey Resources by 74.8% during the second quarter. Vise Technologies Inc. now owns 14,914 shares of the utilities provider's stock worth $836,000 after purchasing an additional 6,382 shares during the last quarter. Essential Partners LLC raised its holdings in shares of NewJersey Resources by 67.3% during the second quarter. Essential Partners LLC now owns 686 shares of the utilities provider's stock worth $38,000 after purchasing an additional 276 shares during the last quarter. Energy Income Partners LLC purchased a new stake in NewJersey Resources in the second quarter valued at $78,592,000. Finally, Meeder Advisory Services Inc. purchased a new stake in NewJersey Resources in the second quarter valued at $439,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, COO Patrick J. Migliaccio sold 3,000 shares of the firm's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $55.63, for a total value of $166,890.00. Following the transaction, the chief operating officer directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company's stock.

NewJersey Resources Price Performance

Shares of NYSE NJR opened at $53.84 on Wednesday. The firm has a market cap of $5.46 billion, a PE ratio of 14.87 and a beta of 0.50. The firm has a fifty day moving average of $56.79 and a 200 day moving average of $55.68. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.45 and a current ratio of 0.66. NewJersey Resources Corporation has a one year low of $43.46 and a one year high of $60.86.

NewJersey Resources (NYSE:NJR - Get Free Report) last posted its quarterly earnings data 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 net margin of 16.42% and a return on equity of 14.46%. The business had revenue of $349.18 million for the quarter, compared to the consensus estimate of $342.13 million. During the same period last year, the firm posted ($0.15) earnings per share. The company's 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. As a group, research analysts predict 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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