NewJersey Resources (NYSE:NJR) COO Patrick Migliaccio Sells 3,000 Shares of Stock

NewJersey Resources Corporation (NYSE:NJR) COO Patrick Migliaccio sold 3,000 shares of NewJersey Resources stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $55.84, for a total transaction of $167,520.00. Following the transaction, the chief operating officer directly owned 35,202 shares of the company’s stock, valued at $1,965,679.68. This represents a 7.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

NewJersey Resources Trading Up 0.3%

Shares of NJR stock opened at $57.13 on Thursday. NewJersey Resources Corporation has a 12-month low of $43.46 and a 12-month high of $57.85. The company has a market capitalization of $5.77 billion, a P/E ratio of 16.95 and a beta of 0.51. The firm has a 50-day moving average price of $55.33 and a 200 day moving average price of $50.62. 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 (NYSE:NJR) last announced its quarterly earnings results on Monday, May 4th. The utilities provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.31. The firm 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%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm posted $1.78 EPS. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. Research analysts forecast that NewJersey Resources Corporation will post 3.5 earnings per share for the current fiscal year.

NewJersey Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 3.3%. The ex-dividend date is Wednesday, June 10th. NewJersey Resources’s dividend payout ratio (DPR) is presently 56.38%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NJR. Wall Street Zen upgraded shares of NewJersey Resources from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings upgraded shares of NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 13th. Williams Trading set a $55.00 price target on shares of NewJersey Resources in a research report on Tuesday, February 3rd. Argus upgraded shares of NewJersey Resources to a “strong-buy” rating in a research report on Thursday, January 22nd. Finally, Wells Fargo & Company began coverage on shares of NewJersey Resources in a research report on Tuesday. They set an “overweight” rating and a $63.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. Based on data from MarketBeat.com, NewJersey Resources currently has a consensus rating of “Buy” and an average target price of $56.17.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Root Financial Partners LLC lifted its stake in NewJersey Resources by 56.5% in the first quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider’s stock valued at $29,000 after buying an additional 190 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new stake in shares of NewJersey Resources in the third quarter worth $28,000. Bessemer Group Inc. lifted its position in shares of NewJersey Resources by 60.1% in the third quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 230 shares in the last quarter. Torren Management LLC bought a new stake in shares of NewJersey Resources in the fourth quarter worth $35,000. Finally, CENTRAL TRUST Co lifted its position 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 in the last quarter. Institutional investors own 70.98% of the company’s stock.

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.