Jefferies Financial Group Inc. Takes Position in NewJersey Resources Corporation $NJR

Jefferies Financial Group Inc. purchased a new position in shares of NewJersey Resources Corporation (NYSE:NJR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 20,453 shares of the utilities provider’s stock, valued at approximately $1,146,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in NewJersey Resources by 6.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,363 shares of the utilities provider’s stock valued at $2,912,000 after acquiring an additional 3,422 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of NewJersey Resources by 65.7% in the first quarter. NewEdge Advisors LLC now owns 22,214 shares of the utilities provider’s stock valued at $1,090,000 after purchasing an additional 8,808 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of NewJersey Resources by 10.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 320,113 shares of the utilities provider’s stock valued at $15,705,000 after purchasing an additional 29,458 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of NewJersey Resources in the first quarter valued at approximately $8,907,000. Finally, Invesco Ltd. grew its position in shares of NewJersey Resources by 14.4% in the second quarter. Invesco Ltd. now owns 465,923 shares of the utilities provider’s stock valued at $20,883,000 after purchasing an additional 58,795 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on NJR. Wells Fargo & Company downgraded NewJersey Resources from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $63.00 to $61.00 in a research report on Wednesday, August 5th. Weiss Ratings cut NewJersey Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Finally, Argus set a $63.00 price target on NewJersey Resources in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, NewJersey Resources currently has a consensus rating of “Buy” and an average price target of $57.83.

NewJersey Resources Price Performance

NewJersey Resources stock opened at $53.49 on Monday. The stock has a market capitalization of $5.43 billion, a P/E ratio of 14.78 and a beta of 0.50. NewJersey Resources Corporation has a 12-month low of $43.46 and a 12-month high of $60.86. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.66 and a quick ratio of 0.45. The firm’s 50-day moving average is $56.73 and its two-hundred day moving average is $55.72.

NewJersey Resources (NYSE:NJR) last posted its quarterly earnings data on Monday, August 3rd. The utilities provider reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $349.18 million during the quarter, compared to analyst estimates of $342.13 million. NewJersey Resources had a net margin of 16.42% and a return on equity of 14.46%. The company’s revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.15) earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. Equities analysts predict that NewJersey Resources Corporation will post 3.59 earnings per share for the current year.

Insider Buying and Selling

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 3,000 shares of the business’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 transaction, the chief operating officer directly owned 32,202 shares in the company, valued at approximately $1,791,397.26. The trade was a 8.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.70% of the company’s stock.

NewJersey Resources Company 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.