NewJersey Resources Corporation $NJR Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC reduced its stake in shares of NewJersey Resources Corporation (NYSE:NJR) by 7.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 387,609 shares of the utilities provider’s stock after selling 29,349 shares during the quarter. Confluence Investment Management LLC’s holdings in NewJersey Resources were worth $21,722,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. PNC Financial Services Group Inc. raised its position in NewJersey Resources by 29.7% during 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 acquiring an additional 10,666 shares in the last quarter. World Investment Advisors acquired a new stake in shares of NewJersey Resources during the 4th quarter worth approximately $1,924,000. Norges Bank acquired a new stake in shares of NewJersey Resources during the 4th quarter worth approximately $60,075,000. Louisiana State Employees Retirement System purchased a new position in shares of NewJersey Resources during the 1st quarter valued at approximately $1,604,000. Finally, Alchemi Wealth LLC purchased a new position in shares of NewJersey Resources during the 4th quarter valued at approximately $992,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity at NewJersey Resources

In other NewJersey Resources news, Director Jane M. Kenny sold 8,000 shares of NewJersey Resources 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 sale, the director owned 21,998 shares of the company’s stock, valued at $1,234,087.80. The trade was a 26.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christopher T. D’antuono sold 1,150 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was 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. In the last ninety days, insiders sold 12,150 shares of company stock valued at $682,261. 0.70% of the stock is owned by insiders.

Analysts Set New Price Targets

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

NewJersey Resources Price Performance

NYSE:NJR opened at $58.15 on Tuesday. The stock has a 50 day moving average of $56.82 and a two-hundred day moving average of $54.99. NewJersey Resources Corporation has a 12 month low of $43.46 and a 12 month high of $60.86. The firm has a market cap of $5.87 billion, a P/E ratio of 17.26 and a beta of 0.50. The company has a current ratio of 0.94, a quick ratio of 0.80 and a debt-to-equity ratio of 1.24.

NewJersey Resources (NYSE:NJR) last released its earnings results on Monday, August 3rd. The utilities provider reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.05. The business had revenue of $343.00 million for the quarter, compared to the consensus estimate of $342.13 million. NewJersey Resources had a return on equity of 14.58% and a net margin of 15.67%.The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.15) earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. On average, analysts expect that NewJersey Resources Corporation will post 3.58 earnings per share for the current fiscal year.

Key Headlines Impacting NewJersey Resources

Here are the key news stories impacting NewJersey Resources this week:

• Positive Sentiment: Quarterly earnings beat estimates: Fiscal Q3 adjusted net financial earnings were $0.11 per share, compared with the $0.06 consensus estimate. GAAP net income was $9.7 million, or $0.10 per share, versus a $15.1 million loss, or $0.15 per share, in the prior-year quarter. New Jersey Resources Q3 Earnings and Revenues Beat Estimates
• Positive Sentiment: Revenue and year-to-date results improved: Quarterly operating revenue rose 16.8% year over year to $349.2 million. Through the first nine months of fiscal 2026, net income increased to $351.1 million, or $3.48 per share, from $320.6 million, or $3.20 per share. New Jersey Resources Reports Fiscal 2026 Third-Quarter Results
• Positive Sentiment: Full-year guidance remains above consensus: NJR tightened fiscal 2026 net financial earnings guidance to $3.52-$3.62 per share, compared with the $3.50 analyst consensus. The company also reported $577.8 million in year-to-date operating cash flow, supporting ongoing investment in its businesses. New Jersey Resources Tightens Fiscal 2026 Earnings Guidance
• Neutral Sentiment: Expansion continues: New Jersey Natural Gas served approximately 595,000 customers, while Clean Energy Ventures had about 537 megawatts of commercial solar capacity in service. Capital expenditures reached $553.0 million during the first nine months, indicating continued growth investment but also substantial spending.
• Negative Sentiment: Insider selling could temper enthusiasm: Recent filings cited six open-market insider sales over the past six months and no purchases. The reported transactions are not necessarily related to the earnings release, but they may be viewed cautiously by investors. New Jersey Resources Posts Fiscal Third Quarter Profit

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.