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

Principal Financial Group Inc. increased its holdings in shares of NewJersey Resources Corporation (NYSE:NJR) by 4.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 226,635 shares of the utilities provider’s stock after acquiring an additional 9,016 shares during the period. Principal Financial Group Inc. owned about 0.22% of NewJersey Resources worth $12,447,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Measured Wealth Private Client Group LLC purchased a new stake in NewJersey Resources in the third quarter worth $28,000. Root Financial Partners LLC boosted its stake in shares of NewJersey Resources by 56.5% during the first quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 190 shares during the period. Torren Management LLC purchased a new stake in shares of NewJersey Resources during the fourth quarter valued at $35,000. Smartleaf Asset Management LLC grew its holdings 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 during the last quarter. Finally, CENTRAL TRUST Co grew its holdings in shares of NewJersey Resources by 172.7% in the first quarter. CENTRAL TRUST Co now owns 818 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 518 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on NJR. Weiss Ratings raised shares of NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. Mizuho boosted their price objective on shares of NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, April 21st. Wells Fargo & Company initiated coverage on shares of NewJersey Resources in a research note on Tuesday, May 12th. They issued an “overweight” rating and a $63.00 target price on the stock. Finally, Argus set a $63.00 target price on shares of NewJersey Resources in a research report on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $58.17.

Insider Transactions at NewJersey Resources

In other news, COO Patrick J. Migliaccio sold 3,000 shares of the business’s stock in a transaction on 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 directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jane M. Kenny sold 8,000 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $56.10, for a total value of $448,800.00. Following the sale, the director owned 21,998 shares of the company’s stock, valued at $1,234,087.80. This trade represents a 26.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 12,150 shares of company stock valued at $682,261. Corporate insiders own 0.70% of the company’s stock.

NewJersey Resources Stock Performance

Shares of NJR stock opened at $59.96 on Friday. The firm has a market cap of $6.05 billion, a price-to-earnings ratio of 17.79 and a beta of 0.50. The company’s 50 day moving average is $56.65 and its 200 day moving average is $54.41. The company has a quick ratio of 0.80, a current ratio of 0.94 and a debt-to-equity ratio of 1.24. NewJersey Resources Corporation has a 52-week low of $43.46 and a 52-week high of $60.69.

NewJersey Resources (NYSE:NJR) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. The company had revenue of $939.40 million during the quarter, compared to the consensus estimate of $849.95 million. NewJersey Resources had a net margin of 15.67% and a return on equity of 14.58%. NewJersey Resources’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.78 earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. On average, sell-side analysts anticipate that NewJersey Resources Corporation will post 3.58 EPS for the current fiscal year.

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.