Perigon Wealth Management LLC Purchases Shares of 9,653 NewJersey Resources Corporation $NJR

Perigon Wealth Management LLC acquired a new stake in shares of NewJersey Resources Corporation (NYSE:NJR) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,653 shares of the utilities provider’s stock, valued at approximately $541,000.

Several other large investors have also modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of NewJersey Resources by 6.1% in 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 purchasing an additional 3,422 shares during the period. NewEdge Advisors LLC increased its position 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 worth $1,090,000 after acquiring an additional 8,808 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position 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 worth $15,705,000 after acquiring an additional 29,458 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of NewJersey Resources during the first quarter valued at approximately $8,907,000. Finally, Invesco Ltd. lifted its position in shares of NewJersey Resources by 14.4% in the 2nd quarter. Invesco Ltd. now owns 465,923 shares of the utilities provider’s stock valued at $20,883,000 after acquiring an additional 58,795 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Weiss Ratings cut shares of NewJersey Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Argus set a $63.00 target price on NewJersey Resources in a research report on Wednesday, May 20th. Finally, Wells Fargo & Company downgraded NewJersey Resources from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $63.00 to $61.00 in a report on Wednesday, August 5th. One 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. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $57.83.

NewJersey Resources Stock Performance

NJR stock opened at $55.13 on Thursday. The firm has a 50 day simple moving average of $56.85 and a 200 day simple moving average of $55.59. NewJersey Resources Corporation has a 52 week low of $43.46 and a 52 week high of $60.86. The stock has a market cap of $5.59 billion, a P/E ratio of 15.23 and a beta of 0.50. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.45 and a current ratio of 0.66.

NewJersey Resources (NYSE:NJR) last released its quarterly earnings data 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. NewJersey Resources had a net margin of 16.42% and a return on equity of 14.46%. The firm had revenue of $349.18 million for the quarter, compared to analyst estimates of $342.13 million. During the same quarter in the prior year, the business earned ($0.15) EPS. The company’s revenue for the quarter 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. Research analysts anticipate that NewJersey Resources Corporation will post 3.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Patrick J. Migliaccio sold 3,000 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $55.63, for a total transaction of $166,890.00. Following the completion of the sale, the chief operating officer directly owned 32,202 shares in the company, valued at approximately $1,791,397.26. This trade represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher T. D’antuono sold 1,150 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $171,159.90. This represents a 27.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate 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.