Royal London Asset Management Ltd. Sells 9,869 Shares of NewJersey Resources Corporation $NJR

Royal London Asset Management Ltd. lessened its position in shares of NewJersey Resources Corporation (NYSE:NJR) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 830,283 shares of the utilities provider’s stock after selling 9,869 shares during the period. Royal London Asset Management Ltd. owned 0.82% of NewJersey Resources worth $46,529,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NJR. PNC Financial Services Group Inc. increased its stake in shares of NewJersey Resources by 29.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 46,535 shares of the utilities provider’s stock worth $2,146,000 after purchasing an additional 10,666 shares in the last quarter. World Investment Advisors purchased a new stake in shares of NewJersey Resources during the 4th quarter valued at approximately $1,924,000. Norges Bank purchased a new stake in shares of NewJersey Resources during the 4th quarter valued at approximately $60,075,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of NewJersey Resources by 112.0% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 66,487 shares of the utilities provider’s stock valued at $3,651,000 after buying an additional 35,128 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in NewJersey Resources by 613.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 179,425 shares of the utilities provider’s stock worth $9,854,000 after buying an additional 154,288 shares during the period. Institutional investors own 70.98% of the company’s stock.

NewJersey Resources Price Performance

Shares of NYSE NJR opened at $53.49 on Friday. The firm has a market capitalization of $5.43 billion, a P/E ratio of 14.78 and a beta of 0.50. The company has a quick ratio of 0.45, a current ratio of 0.66 and a debt-to-equity ratio of 1.21. The stock’s 50-day simple moving average is $56.73 and its two-hundred day simple moving average is $55.69. NewJersey Resources Corporation has a twelve month low of $43.46 and a twelve month high of $60.86.

NewJersey Resources (NYSE:NJR) last released its quarterly 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 firm had revenue of $349.18 million for the quarter, compared to analysts’ expectations of $342.13 million. NewJersey Resources had a return on equity of 14.46% and a net margin of 16.42%.The company’s revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.15) EPS. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. As a group, equities analysts anticipate that NewJersey Resources Corporation will post 3.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NJR has been the subject of a number of recent research reports. Wells Fargo & Company lowered shares of NewJersey Resources from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $63.00 to $61.00 in a research note on Wednesday, August 5th. Argus set a $63.00 target price on NewJersey Resources in a research report on Wednesday, May 20th. Finally, Weiss Ratings lowered NewJersey Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $57.83.

Insiders Place Their Bets

In related news, COO Patrick J. Migliaccio sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $55.63, for a total value of $166,890.00. Following the sale, the chief operating officer directly owned 32,202 shares of the company’s stock, valued at $1,791,397.26. This trade represents a 8.52% 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. 0.70% of the stock is owned by corporate insiders.

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.