Caisse de depot et placement du Quebec Buys New Shares in NewJersey Resources Corporation $NJR

Caisse de depot et placement du Quebec purchased a new stake in shares of NewJersey Resources Corporation (NYSE:NJR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 533,628 shares of the utilities provider’s stock, valued at approximately $29,905,000. Caisse de depot et placement du Quebec owned 0.53% of NewJersey Resources as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Measured Wealth Private Client Group LLC bought a new stake in NewJersey Resources during the 3rd quarter worth approximately $28,000. Root Financial Partners LLC boosted its position in shares of NewJersey Resources by 56.5% in the first quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 190 shares during the period. Torren Management LLC bought a new position in shares of NewJersey Resources in the fourth quarter worth approximately $35,000. Essential Partners LLC increased its stake in shares of NewJersey Resources by 67.3% in the second quarter. Essential Partners LLC now owns 686 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 276 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of NewJersey Resources by 118.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 933 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 505 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling at NewJersey Resources

In other news, COO Patrick J. Migliaccio sold 3,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer owned 32,202 shares in the company, 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 at the SEC website. 0.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

NewJersey Resources Price Performance

NJR stock opened at $53.49 on Friday. NewJersey Resources Corporation has a one year low of $43.46 and a one year high of $60.86. The company’s fifty day moving average price is $56.73 and its 200-day moving average price is $55.69. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.45 and a current ratio of 0.66. The company has a market capitalization of $5.43 billion, a PE ratio of 14.78 and a beta of 0.50.

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

NewJersey Resources 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.