Y Intercept Hong Kong Ltd Sells 24,229 Shares of NewJersey Resources Corporation $NJR

Y Intercept Hong Kong Ltd lowered its position in NewJersey Resources Corporation (NYSE:NJR) by 81.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 5,441 shares of the utilities provider’s stock after selling 24,229 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in NewJersey Resources were worth $299,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Measured Wealth Private Client Group LLC acquired a new stake in NewJersey Resources during the 3rd quarter worth approximately $28,000. Root Financial Partners LLC increased 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 valued at $29,000 after acquiring an additional 190 shares during the period. Torren Management LLC acquired a new position in NewJersey Resources in the 4th quarter valued at approximately $35,000. Smartleaf Asset Management LLC raised its stake in shares of NewJersey Resources by 118.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 933 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 505 shares during the last quarter. Finally, CENTRAL TRUST Co raised its stake in shares of NewJersey Resources by 172.7% during the first 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 last quarter. Institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

NJR has been the topic of several analyst reports. Wells Fargo & Company started coverage on shares of NewJersey Resources in a research note on Tuesday, May 12th. They issued an “overweight” rating and a $63.00 price objective on the stock. Weiss Ratings raised NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. Mizuho lifted their target price on NewJersey Resources from $54.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, April 21st. Finally, Argus set a $63.00 price target on NewJersey Resources in a research report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $58.17.

Insider Activity

In other news, COO Patrick J. Migliaccio sold 3,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $55.84, for a total value of $167,520.00. Following the transaction, the chief operating officer directly owned 35,202 shares of the company’s stock, valued at $1,965,679.68. The trade was a 7.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher T. D’antuono sold 1,150 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $57.34, for a total value of $65,941.00. Following the sale, the insider owned 2,985 shares in the company, valued at approximately $171,159.90. The trade was a 27.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,150 shares of company stock valued at $682,261 in the last ninety days. 0.70% of the stock is owned by company insiders.

NewJersey Resources Price Performance

Shares of NYSE NJR opened at $57.88 on Thursday. NewJersey Resources Corporation has a twelve month low of $43.46 and a twelve month high of $59.59. The firm has a fifty day simple moving average of $56.31 and a 200 day simple moving average of $53.84. The company has a market capitalization of $5.84 billion, a PE 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 (NYSE:NJR) last released its earnings results on Monday, May 4th. The utilities provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.31. The business had revenue of $939.40 million for the quarter, compared to analyst estimates of $849.95 million. NewJersey Resources had a net margin of 15.67% and a return on equity of 14.58%. NewJersey Resources’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.78 earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. On average, sell-side analysts forecast that NewJersey Resources Corporation will post 3.58 EPS for the current 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.