California State Teachers Retirement System Has $6.18 Million Stake in NewJersey Resources Corporation $NJR

California State Teachers Retirement System grew its holdings in NewJersey Resources Corporation (NYSE:NJR) by 17.4% during the first quarter, Holdings Channel.com reports. The firm owned 112,540 shares of the utilities provider’s stock after acquiring an additional 16,685 shares during the period. California State Teachers Retirement System’s holdings in NewJersey Resources were worth $6,181,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in NJR. Measured Wealth Private Client Group LLC acquired a new stake in shares of NewJersey Resources in the third quarter valued at $28,000. Root Financial Partners LLC lifted its position in NewJersey Resources by 56.5% during the 1st quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider’s stock worth $29,000 after buying an additional 190 shares in the last quarter. Torren Management LLC bought a new stake in NewJersey Resources during the 4th quarter worth about $35,000. Smartleaf Asset Management LLC increased its position in NewJersey Resources by 118.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 933 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 505 shares in the last quarter. Finally, CENTRAL TRUST Co increased its position in 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. Institutional investors own 70.98% of the company’s stock.

NewJersey Resources Trading Down 3.3%

Shares of NYSE NJR opened at $55.51 on Thursday. NewJersey Resources Corporation has a twelve month low of $43.46 and a twelve month high of $60.86. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 15.33 and a beta of 0.50. The company has a quick ratio of 0.80, a current ratio of 0.94 and a debt-to-equity ratio of 1.24. The company’s fifty day moving average is $56.79 and its 200-day moving average is $55.12.

NewJersey Resources (NYSE:NJR) last released its quarterly earnings data on Monday, August 3rd. The utilities provider reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The business 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 14.66%. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.15) EPS. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. Equities research analysts predict that NewJersey Resources Corporation will post 3.58 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. Argus set a $63.00 price objective on NewJersey Resources in a report on Wednesday, May 20th. Wells Fargo & Company cut 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. Finally, Mizuho upped 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. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $57.83.

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 Monday, May 11th. The stock was sold at an average price of $55.84, for a total transaction of $167,520.00. Following the sale, the chief operating officer owned 35,202 shares of the company’s stock, valued at $1,965,679.68. This trade represents a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jane M. Kenny sold 8,000 shares of NewJersey Resources stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $56.10, for a total value of $448,800.00. Following the transaction, the director owned 21,998 shares in the company, valued at $1,234,087.80. This trade represents a 26.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 12,150 shares of company stock valued at $682,261. Company 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.