Y Intercept Hong Kong Ltd Has $299,000 Stock Holdings in NewJersey Resources Corporation $NJR

Key Points

• Y Intercept Hong Kong Ltd sharply reduced its NewJersey Resources stake by 81.7% in the first quarter, leaving it with 5,441 shares valued at about $299,000.
• Several other institutional investors remain heavily involved in NJR, and institutions and hedge funds collectively own 70.98% of the company’s stock.
• NewJersey Resources reported better-than-expected quarterly results, posting $2.20 EPS versus $1.89 expected and $939.4 million in revenue versus $849.95 million expected, while analysts currently rate the stock a consensus Buy.

Y Intercept Hong Kong Ltd decreased its stake in shares of NewJersey Resources Corporation (NYSE:NJR - Free Report) by 81.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 5,441 shares of the utilities provider's stock after selling 24,229 shares during the period. Y Intercept Hong Kong Ltd's holdings in NewJersey Resources were worth $299,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in shares of NewJersey Resources by 29.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 46,535 shares of the utilities provider's stock valued at $2,146,000 after purchasing an additional 10,666 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of NewJersey Resources by 1,989.9% during the fourth quarter. SG Americas Securities LLC now owns 166,003 shares of the utilities provider's stock worth $7,656,000 after purchasing an additional 158,060 shares during the period. World Investment Advisors acquired a new stake in NewJersey Resources during the 4th quarter worth approximately $1,924,000. JPMorgan Chase & Co. lifted its holdings in NewJersey Resources by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 687,125 shares of the utilities provider's stock worth $33,085,000 after purchasing an additional 17,035 shares during the last quarter. Finally, Norges Bank bought a new stake in NewJersey Resources in the 4th quarter valued at $60,075,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Insiders Place Their Bets

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 3,000 shares of the business's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $55.84, for a total transaction of $167,520.00. Following the sale, the chief operating officer owned 35,202 shares of the company's stock, valued at approximately $1,965,679.68. The trade was a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jane M. Kenny sold 8,000 shares of the company's stock in a transaction 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 transaction, the director owned 21,998 shares of the company's stock, valued at $1,234,087.80. This trade represents a 26.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,150 shares of company stock worth $682,261 over the last three months. Insiders own 0.70% of the company's stock.

NewJersey Resources Trading Down 1.5%

Shares of NewJersey Resources stock opened at $57.88 on Thursday. The company has a market capitalization of $5.84 billion, a price-to-earnings ratio of 17.17 and a beta of 0.50. The company has a quick ratio of 0.80, a current ratio of 0.94 and a debt-to-equity ratio of 1.24. NewJersey Resources Corporation has a 12-month low of $43.46 and a 12-month high of $59.59. The firm's 50-day moving average price is $56.31 and its two-hundred day moving average price is $53.84.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on NJR. Weiss Ratings upgraded NewJersey Resources from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, May 27th. Mizuho boosted their target price on shares of NewJersey Resources from $54.00 to $61.00 and gave the company an "outperform" rating in a research report on Tuesday, April 21st. Wells Fargo & Company assumed coverage on shares of NewJersey Resources in a research note on Tuesday, May 12th. They issued an "overweight" rating and a $63.00 price target on the stock. Finally, Argus set a $63.00 price target on shares of NewJersey Resources in a research report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat.com, NewJersey Resources currently has an average rating of "Buy" and a consensus price target of $58.17.

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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