Principal Financial Group Inc. Boosts Holdings in NewJersey Resources Corporation $NJR

Principal Financial Group Inc. grew its position in NewJersey Resources Corporation (NYSE:NJR) by 4.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 226,635 shares of the utilities provider’s stock after purchasing an additional 9,016 shares during the quarter. Principal Financial Group Inc.’s holdings in NewJersey Resources were worth $12,447,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. PNC Financial Services Group Inc. grew its stake in NewJersey Resources by 29.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 46,535 shares of the utilities provider’s stock worth $2,146,000 after buying an additional 10,666 shares during the last quarter. SG Americas Securities LLC increased its position in NewJersey Resources by 1,989.9% during the 4th quarter. SG Americas Securities LLC now owns 166,003 shares of the utilities provider’s stock valued at $7,656,000 after buying an additional 158,060 shares in the last quarter. World Investment Advisors purchased a new stake in NewJersey Resources in the fourth quarter valued at about $1,924,000. Norges Bank purchased a new stake in NewJersey Resources in the fourth quarter valued at about $60,075,000. Finally, Louisiana State Employees Retirement System purchased a new stake in NewJersey Resources in the first quarter valued at about $1,604,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Christopher T. D’antuono sold 1,150 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $57.34, for a total value of $65,941.00. Following the completion of the transaction, the insider directly owned 2,985 shares in the company, valued at $171,159.90. This trade represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Patrick J. Migliaccio sold 3,000 shares of the firm’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 completion of the transaction, the chief operating officer owned 35,202 shares of the company’s stock, valued at approximately $1,965,679.68. The trade was a 7.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 12,150 shares of company stock valued at $682,261. Company insiders own 0.70% of the company’s stock.

NewJersey Resources Price Performance

NYSE NJR opened at $59.96 on Friday. The company has a market cap of $6.05 billion, a price-to-earnings ratio of 17.79 and a beta of 0.50. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.80. The stock’s fifty day moving average price is $56.65 and its 200 day moving average price is $54.41. NewJersey Resources Corporation has a 1 year low of $43.46 and a 1 year high of $60.69.

NewJersey Resources (NYSE:NJR) last issued its quarterly earnings results on Monday, May 4th. The utilities provider reported $2.20 EPS for the quarter, topping 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 company had revenue of $939.40 million during the quarter, compared to analysts’ expectations of $849.95 million. During the same quarter in the previous year, the firm posted $1.78 EPS. The firm’s 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. As a group, equities research analysts forecast that NewJersey Resources Corporation will post 3.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NJR. Argus set a $63.00 price target on NewJersey Resources in a research note on Wednesday, May 20th. Mizuho upped 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. Wells Fargo & Company assumed coverage on shares of NewJersey Resources in a research report on Tuesday, May 12th. They issued an “overweight” rating and a $63.00 price objective for the company. Finally, Weiss Ratings upgraded shares of NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $58.17.

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.