What is the 13F Pro Quality Score for NJR?

13F Pro ranks NEW JERSEY RESOURCES CORP (NJR) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View NJR's current score at https://13fpro.ai/research/NJR (free sign-up required for the full ranking).

Which hedge funds own the most NJR stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of NJR include BlackRock,, VANGUARD PORTFOLIO MANAGEMENT, STATE STREET. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/NJR as soon as new 13F filings post.

Where does 13F Pro source NJR data?

All NEW JERSEY RESOURCES CORP fundamentals and ownership data come directly from SEC EDGAR. NEW JERSEY RESOURCES CORP files with the SEC under CIK 356309. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is NJR in?

NEW JERSEY RESOURCES CORP (NJR) is classified in the Energy sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/energy.

What drives NJR's revenue?

Per NEW JERSEY RESOURCES CORP's latest 10-Q filed with the SEC on 2026-05-05, the biggest revenue drivers are: Energy Services (ES) ($363.3M, +9.2% YoY); Storage and Transportation (S&T) ($57.5M, +10.8% YoY); Clean Energy Ventures (CEV) ($41.7M, +21.2% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/research/NJR.

What are NJR's largest expenses?

NEW JERSEY RESOURCES CORP's latest 10-Q reports these as the largest expense items: Natural gas purchases ($673.8M, +7.8% YoY); Depreciation and amortization ($99.7M, +7.0% YoY); Operation and maintenance ($199.2M, -0.3% YoY). Sourced directly from SEC EDGAR filing text for Q2 FY2026 (six months ended March 31, 2026).

How often is NJR research updated on 13F Pro?

NJR's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

NEW JERSEY RESOURCES CORP(NJR)Stock Analysis

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13F Pro Quality Score

79.3/100

Rank #58 of 2,879 stocksTOP 5%

View Energy peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

87.5/100

Profitability

90.6/100

Balance Sheet

78.6/100

Earnings Quality

88.8/100

Free Cash Flow

93.0/100

Institutional Flow

35.4/100

Revenue Scale

61.6/100

Dilution Risk

50.0/100

NJR Stock Analysis & AI Quality Score

AI stock analysis and institutional research for NEW JERSEY RESOURCES CORP (NJR), a Energy sector company. 13F Pro's AI-powered ranking engine scores NJR at 79.3/100 on a 32-signal composite quality model, placing it at rank #58 of 2,879 stocks — the top 5% of the AI-ranked universe. NJR scores in the top quartile across free cash flow (93.0), profitability (90.6), earnings quality (88.8). Areas of concern include institutional flow (35.4), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), NEW JERSEY RESOURCES CORP reports quarterly revenue of $641.4M, net income of $218.9M, an operating margin of 46.9%. Top institutional holders of NJR by reported 13-F value include BlackRock,, VANGUARD PORTFOLIO MANAGEMENT, STATE STREET, based on the most recent SEC filings. NJR trades on the NYSE exchange and files with the SEC under CIK 356309. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate NJR daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for NEW JERSEY RESOURCES CORP directly from SEC EDGAR. NEW JERSEY RESOURCES CORP's 13F Pro composite quality score has ranged between 45 and 80 since 2021, currently 79.3 — an improving long-term trajectory across 30 quarterly and live scoring snapshots.

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Fun facts about NEW JERSEY RESOURCES CORP

Quirks, history, and lore behind NJR — the kind of stuff that makes a stock memorable.

1
The Basics
A U.S. energy utility company · mid-cap · listed on the NYSE · headquartered in the Garden State.
2
The Numbers
Annual revenue in the range of $1–2 billion, serving over half a million residential and commercial customers across its home state.
3
The History
Founded in the mid-20th century, it grew from a regulated natural gas distribution utility into a diversified energy holding company with unregulated subsidiaries.
4
The Secret
Beyond piping gas to homes, it has expanded into clean energy and solar investments — hedging its fossil-fuel roots with a greener future.
5
The Lore
Its subsidiary Elizabethtown Gas is one of the oldest gas distributors in its state, and the company has paid consecutive quarterly dividends for decades — a utility investor's comfort food.
6
The Giveaway
Its name literally tells you its home: a natural gas and energy services holding company whose initials match the abbreviation for the state that gave birth to Thomas Edison.

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What's Driving NJR's Business? Latest 10-Q Breakdown

AI-extracted from NEW JERSEY RESOURCES CORP's 10-Q filed 2026-05-05 — Q2 FY2026 (six months ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

NJR net income grew to $341.4M (+1.7% YoY) driven by NJNG rate increases, ES market volatility gains, and S&T rate settlement benefits, offsetting CEV's $39.8M prior-year residential solar sale gain.

Biggest Revenue Drivers

Total revenue: $1,544.3M+10.2% YoY

Energy Services (ES)$363.3M+9.2% YoY

Higher natural gas prices (+22% increase) on lower volumes; colder weather created favorable market volatility and pricing spreads

Storage and Transportation (S&T)$57.5M+10.8% YoY

Higher rates at Adelphia due to recent FERC rate case settlement; improved margins on storage and transportation operations

Clean Energy Ventures (CEV)$41.7M+21.2% YoY

Higher REC sales from commercial solar projects in service; three projects (13.4 MW) placed in service during period

Largest Expense Items

Natural gas purchases$673.8M+7.8% YoY

Increased cost of natural gas with higher commodity prices, partially offset by lower volumes and storage optimization

Depreciation and amortization$99.7M+7.0% YoY

Result of additional utility plant placed into service and CEV solar asset additions

Operation and maintenance$199.2M-0.3% YoY

Higher employee expenses at NJNG offset by normal operational efficiency

Interest expense, net of capitalized interest$70.7M+6.4% YoY

Higher outstanding long-term debt and increased borrowing costs across segments

Margins: NJNG's Utility Gross Margin increased $35.3M (+7.4% YoY) to $511.4M due to base rate increase and BGSS incentive programs, offset by CIP weather adjustments. ES Financial Margin improved significantly to $135.3M (+78.0% YoY) benefiting from colder-than-normal weather and commodity price volatility.

Watch Items from the Filing

CEV dependence on federal ITC eligibility; OBBBA accelerated phase-out requiring projects placed in service by December 31, 2027 unless construction began before July 4, 2026, and new construction guidance issued August 2025 may impact project pipeline.
MGP remediation liability of $166.1M with estimated total future expenditures of $144.3M to $200.2M; NJNG seeking recovery through BPU-approved RAC rider mechanism, subject to regulatory approval and cost allocation.
ES earnings highly volatile due to natural gas commodity derivatives marked-to-market; unrealized gains/losses of $(1.1)M in six months could significantly fluctuate with market movements and storage timing mismatches.
NJNG's BGSS rate self-implementation of $38.1M increase effective December 1, 2025 through September 30, 2026 provisionally approved by BPU on December 17, 2025, subject to final reconciliation and potential adjustments.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q2 2026

$641.4M

Net Income

Q2 2026

$218.9M

Free Cash Flow

Q2 2026

$562.6M

Operating Margin

Q2 2026

46.9%

ROIC

Q2 2026

5.1%

D/E Ratio

Q2 2026

1.36

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+9.9% YoY

$1.35BFY 2025

FY22 $1.20BFY23 $1.11BFY24 $1.23BFY25 $1.35B

Net Income

+15.8% YoY

$335.6MFY 2025

FY22 $274.9MFY23 $264.7MFY24 $289.8MFY25 $335.6M

Operating Income

+11.1% YoY

$508.9MFY 2025

FY22 $406.5MFY23 $407.0MFY24 $458.1MFY25 $508.9M

EPS (Diluted)

+14.0% YoY

$3.33FY 2025

FY22 $2.85FY23 $2.71FY24 $2.92FY25 $3.33

Total Assets

+8.6% YoY

$7.58BFY 2025

FY22 $6.26BFY23 $6.54BFY24 $6.98BFY25 $7.58B

Total Debt

+7.3% YoY

$3.60BFY 2025

FY22 $2.98BFY23 $3.14BFY24 $3.36BFY25 $3.60B

Op. Cash Flow

+9.1% YoY

$466.3MFY 2025

FY22 $323.5MFY23 $479.0MFY24 $427.4MFY25 $466.3M

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2019
Revenue	$1.35B +9.9%	$1.23B +10.7%	$1.11B -7.3%	$1.20B +40.7%	$852.1M +8.9%	$782.3M
Net Income	$335.6M +15.8%	$289.8M +9.5%	$264.7M -3.7%	$274.9M +133.2%	$117.9M -4.9%	$123.9M
Operating Income	$508.9M +11.1%	$458.1M +12.6%	$407.0M +0.1%	$406.5M +41.0%	$288.4M +75.2%	$164.6M
EPS (Diluted)	$3.33 +14.0%	$2.92 +7.7%	$2.71 -4.9%	$2.85 +133.6%	$1.22 -11.6%	$1.38
Total Assets	$7.58B +8.6%	$6.98B +6.8%	$6.54B +4.4%	$6.26B +9.4%	$5.72B +30.9%	$4.37B
Total Debt	$3.60B +7.3%	$3.36B +7.1%	$3.14B +5.1%	$2.98B +14.2%	$2.61B +64.9%	$1.58B
Operating Cash Flow	$466.3M +9.1%	$427.4M -10.8%	$479.0M +48.1%	$323.5M -17.3%	$391.0M +101.4%	$194.1M

AI Insight: NJR Financial Trends

Q1 2026 revenue and net income hit cycle highs of $641M and $219M, but total debt has surged 11% year-over-year to $3,596M.

• Revenue grew from $569M in Q1 2025 to $641M in Q1 2026, a 13% year-over-year gain in the seasonally strongest quarter.

• Net income rose from $204M in Q1 2025 to $219M in Q1 2026, and operating income expanded from $280M to $301M over the same period.

• Operating cash flow surged to $563M in Q1 2026 versus $423M in Q1 2025, reflecting strong seasonal cash conversion.

• Total debt climbed from $3,244M in Q1 2025 to $3,596M in Q1 2026, while equity rose modestly from $2,478M to $2,649M.

⚠ Total debt reached $3,805M in Q4 2025 — a new series high — before modest paydown in Q1 2026; leverage trajectory warrants close monitoring.

⚠ Q2 operating income turned negative at -$1M in Q2 2025 versus $6M in Q2 2024, signaling seasonal weakness may be deepening.

⚠ Operating cash flow was negative in both Q2 2025 (-$29M) and Q4 2024 (-$9M), highlighting lumpy intra-year cash generation.

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Available Research

13F Pro tracks comprehensive data for NEW JERSEY RESOURCES CORP including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of NJR

BlackRock, Inc.
$954.6M17,381,839 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$322.5M5,872,563 sh
STATE STREET CORP
$281.0M5,075,348 sh
VANGUARD CAPITAL MANAGEMENT LLC
$247.3M4,502,278 sh
DIMENSIONAL FUND ADVISORS LP
$227.4M4,141,330 sh
GEODE CAPITAL MANAGEMENT, LLC
$142.9M2,601,503 sh
WELLS FARGO & COMPANY/MN
$135.6M2,468,590 sh
Neuberger Berman Group LLC
$83.2M1,513,779 sh
Energy Income Partners, LLC
$77.8M1,416,001 sh
MORGAN STANLEY
$71.7M1,304,891 sh

Fund	Value	Shares
BlackRock, Inc.	$954.6M	17,381,839
VANGUARD PORTFOLIO MANAGEMENT LLC	$322.5M	5,872,563
STATE STREET CORP	$281.0M	5,075,348
VANGUARD CAPITAL MANAGEMENT LLC	$247.3M	4,502,278
DIMENSIONAL FUND ADVISORS LP	$227.4M	4,141,330
GEODE CAPITAL MANAGEMENT, LLC	$142.9M	2,601,503
WELLS FARGO & COMPANY/MN	$135.6M	2,468,590
Neuberger Berman Group LLC	$83.2M	1,513,779
Energy Income Partners, LLC	$77.8M	1,416,001
MORGAN STANLEY	$71.7M	1,304,891

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Is NJR a good stock to buy?

13F Pro's AI-powered analysis of NEW JERSEY RESOURCES CORP (NJR) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Energy sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for NJR are available on the NJR stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own NJR?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling NJR. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of NEW JERSEY RESOURCES CORP's investment landscape.