Summit Global Investments Invests $514,000 in NewJersey Resources Corporation $NJR

Summit Global Investments acquired a new stake in NewJersey Resources Corporation (NYSE:NJR) during the second quarter, Holdings Channel reports. The institutional investor acquired 9,165 shares of the utilities provider’s stock, valued at approximately $514,000.

A number of other institutional investors have also made changes to their positions in NJR. Root Financial Partners LLC increased its stake in NewJersey Resources by 56.5% in the 1st quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider’s stock valued at $29,000 after buying an additional 190 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new position in shares of NewJersey Resources during the 3rd quarter worth about $28,000. Torren Management LLC acquired a new position in shares of NewJersey Resources during the 4th quarter worth about $35,000. CENTRAL TRUST Co grew its holdings in shares of NewJersey Resources by 172.7% in the 1st quarter. CENTRAL TRUST Co now owns 818 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 518 shares in the last quarter. Finally, Roxbury Financial LLC increased its position in shares of NewJersey Resources by 72.9% in the second quarter. Roxbury Financial LLC now owns 885 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 373 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

NewJersey Resources Stock Up 0.2%

NewJersey Resources stock opened at $55.63 on Friday. The firm has a market capitalization of $5.65 billion, a PE ratio of 15.37 and a beta of 0.50. The company’s 50-day moving average is $56.83 and its 200-day moving average is $55.41. NewJersey Resources Corporation has a fifty-two week low of $43.46 and a fifty-two week 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.

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

Analysts Set New Price Targets

NJR has been the topic of several analyst reports. Weiss Ratings lowered NewJersey Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Mizuho raised their price target on NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, April 21st. Argus set a $63.00 price target on NewJersey Resources in a research report on Wednesday, May 20th. Finally, Wells Fargo & Company cut NewJersey Resources from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $63.00 to $61.00 in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $57.83.

Insider Transactions at NewJersey Resources

In other NewJersey Resources news, insider Christopher T. D’antuono sold 1,150 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $57.34, for a total value of $65,941.00. Following the sale, the insider owned 2,985 shares in the company, valued at $171,159.90. This represents a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is owned by corporate insiders.

About NewJersey Resources

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.