NewJersey Resources Corporation $NJR Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its stake in shares of NewJersey Resources Corporation (NYSE:NJR) by 3.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 275,348 shares of the utilities provider’s stock after selling 10,655 shares during the period. Wellington Management Group LLP’s holdings in NewJersey Resources were worth $15,431,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the stock. Beacon Pointe Advisors LLC acquired a new stake in NewJersey Resources during the second quarter worth about $222,000. Empowered Funds LLC acquired a new position in NewJersey Resources in the second quarter valued at approximately $226,000. United Capital Financial Advisors LLC acquired a new position in NewJersey Resources in the second quarter valued at approximately $1,113,000. Equitable Holdings Inc. purchased a new stake in NewJersey Resources in the 2nd quarter worth approximately $552,000. Finally, Jefferies Financial Group Inc. purchased a new stake in NewJersey Resources in the 2nd quarter worth approximately $1,146,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

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 equities research 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 company’s stock. According to data from MarketBeat, NewJersey Resources has a consensus rating of “Buy” and an average price target of $57.83.

NewJersey Resources Stock Performance

NYSE NJR opened at $53.35 on Tuesday. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 2.97 and a beta of 0.50. The stock has a 50-day moving average of $56.39 and a 200 day moving average of $55.71. 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) 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.

Insider Activity

In related news, COO Patrick 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. 0.70% of the stock is owned by company insiders.

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.