Man Group plc Sells 56,157 Shares of NewJersey Resources Corporation $NJR

Man Group plc cut its position in shares of NewJersey Resources Corporation (NYSE:NJR) by 62.5% in the second quarter, Holdings Channel.com reports. The firm owned 33,666 shares of the utilities provider’s stock after selling 56,157 shares during the quarter. Man Group plc’s holdings in NewJersey Resources were worth $1,887,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC bought a new stake in NewJersey Resources in the third quarter worth about $28,000. Root Financial Partners LLC raised its holdings in shares of NewJersey Resources by 56.5% in the first quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider’s stock worth $29,000 after buying an additional 190 shares during the period. Essential Partners LLC lifted its stake in shares of NewJersey Resources by 67.3% during the 2nd quarter. Essential Partners LLC now owns 686 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 276 shares during the last quarter. Smartleaf Asset Management LLC lifted 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 acquiring an additional 505 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its holdings in NewJersey Resources by 172.7% during the 1st quarter. CENTRAL TRUST Co now owns 818 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 518 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NewJersey Resources

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 3,000 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $55.63, for a total value of $166,890.00. Following the completion of the sale, the chief operating officer directly owned 32,202 shares in the company, valued at approximately $1,791,397.26. This represents a 8.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

NJR has been the topic of several research analyst reports. Weiss Ratings downgraded NewJersey Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Wells Fargo & Company lowered shares of NewJersey Resources from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $63.00 to $61.00 in a research note on Wednesday, August 5th. Finally, Argus set a $63.00 price target on shares of NewJersey Resources in a report on Wednesday, May 20th. One equities research 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $57.83.

NewJersey Resources Stock Performance

NewJersey Resources stock opened at $54.06 on Wednesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.45 and a current ratio of 0.66. The company has a market capitalization of $5.49 billion, a PE ratio of 14.93 and a beta of 0.50. The company has a 50 day moving average price of $56.66 and a 200-day moving average price of $55.73. NewJersey Resources Corporation has a fifty-two week low of $43.46 and a fifty-two week high of $60.86.

NewJersey Resources (NYSE:NJR) last announced its quarterly earnings data on Monday, August 3rd. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. The company had revenue of $349.18 million for the quarter, compared to analysts’ expectations of $342.13 million. NewJersey Resources had a return on equity of 14.46% and a net margin of 16.42%.NewJersey Resources’s revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. As a group, equities analysts forecast that NewJersey Resources Corporation will post 3.59 earnings per share for the current year.

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.