Hsbc Holdings PLC Sells 39,667 Shares of NewJersey Resources Corporation $NJR

Hsbc Holdings PLC cut its position in shares of NewJersey Resources Corporation (NYSE:NJR) by 41.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,536 shares of the utilities provider’s stock after selling 39,667 shares during the quarter. Hsbc Holdings PLC’s holdings in NewJersey Resources were worth $3,108,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NJR. Root Financial Partners LLC boosted its stake in 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 in the last quarter. Fifth Third Bancorp grew its position in NewJersey Resources by 19.1% during the fourth quarter. Fifth Third Bancorp now owns 1,311 shares of the utilities provider’s stock valued at $60,000 after acquiring an additional 210 shares during the last quarter. US Bancorp DE raised its stake in shares of NewJersey Resources by 7.9% during the third quarter. US Bancorp DE now owns 3,127 shares of the utilities provider’s stock worth $151,000 after acquiring an additional 228 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of NewJersey Resources by 2.3% during the third quarter. NewEdge Advisors LLC now owns 13,009 shares of the utilities provider’s stock worth $626,000 after acquiring an additional 298 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its holdings in shares of NewJersey Resources by 2.1% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 17,189 shares of the utilities provider’s stock worth $944,000 after acquiring an additional 358 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NewJersey Resources

In related news, Director Jane M. Kenny sold 8,000 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $56.10, for a total transaction of $448,800.00. Following the completion of the sale, the director directly owned 21,998 shares in the company, valued at $1,234,087.80. This represents a 26.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Christopher T. D’antuono sold 1,150 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $57.34, for a total transaction of $65,941.00. Following the sale, the insider directly owned 2,985 shares of the company’s stock, valued at $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 sold 12,150 shares of company stock worth $682,261 in the last three months. 0.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on NJR. Wells Fargo & Company began coverage on shares of NewJersey Resources in a report on Tuesday, May 12th. They set an “overweight” rating and a $63.00 target price on the stock. Weiss Ratings raised shares of NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. Argus set a $63.00 price target on shares of NewJersey Resources in a research report on Wednesday, May 20th. Finally, Mizuho raised their price objective on NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company. Based on data from MarketBeat.com, NewJersey Resources has a consensus rating of “Buy” and an average target price of $58.17.

NewJersey Resources Price Performance

Shares of NewJersey Resources stock opened at $59.96 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.80. NewJersey Resources Corporation has a one year low of $43.46 and a one year high of $60.69. The business’s 50 day simple moving average is $56.65 and its two-hundred day simple moving average is $54.41. The stock has a market capitalization of $6.05 billion, a P/E ratio of 17.79 and a beta of 0.50.

NewJersey Resources (NYSE:NJR) last released its quarterly earnings data on Monday, May 4th. The utilities provider reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.31. NewJersey Resources had a return on equity of 14.58% and a net margin of 15.67%.The firm had revenue of $939.40 million during the quarter, compared to analyst estimates of $849.95 million. During the same quarter in the prior year, the firm posted $1.78 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. Analysts forecast that NewJersey Resources Corporation will post 3.58 EPS 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.