Insider Selling: NewJersey Resources (NYSE:NJR) Insider Sells 1,150 Shares of Stock

NewJersey Resources Corporation (NYSE:NJR) insider Christopher D’antuono sold 1,150 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $57.34, for a total value of $65,941.00. Following the completion of the sale, the insider owned 2,985 shares of the company’s stock, valued at $171,159.90. This represents a 27.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

NewJersey Resources Stock Performance

Shares of NJR stock traded up $0.27 during mid-day trading on Tuesday, reaching $57.54. The stock had a trading volume of 510,146 shares, compared to its average volume of 552,799. NewJersey Resources Corporation has a one year low of $43.46 and a one year high of $58.57. 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 firm’s 50 day simple moving average is $55.79 and its 200 day simple moving average is $51.32. The firm has a market cap of $5.81 billion, a PE ratio of 17.07 and a beta of 0.51.

NewJersey Resources (NYSE:NJR) last issued its earnings results on Monday, May 4th. The utilities provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. NewJersey Resources had a return on equity of 14.58% and a net margin of 15.67%.The business had revenue of $939.40 million during the quarter, compared to analysts’ expectations of $849.95 million. During the same period in the prior year, the firm posted $1.78 EPS. NewJersey Resources’s quarterly revenue was up 2.9% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. On average, analysts forecast that NewJersey Resources Corporation will post 3.5 EPS for the current year.

NewJersey Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th will be issued a $0.475 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.3%. NewJersey Resources’s dividend payout ratio is presently 56.38%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NJR shares. Argus set a $63.00 target price on NewJersey Resources in a report on Wednesday, May 20th. Raymond James Financial reissued an “outperform” rating on shares of NewJersey Resources in a report on Tuesday, February 3rd. Williams Trading set a $55.00 target price on NewJersey Resources in a report on Tuesday, February 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of NewJersey Resources in a research report on Wednesday, May 13th. Finally, Wells Fargo & Company began coverage on NewJersey Resources in a report on Tuesday, May 12th. They set an “overweight” rating and a $63.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $57.14.

Institutional Investors Weigh In On NewJersey Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Root Financial Partners LLC increased its holdings in NewJersey Resources by 56.5% during the 1st 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 in the last quarter. Fifth Third Bancorp boosted its position in shares of NewJersey Resources by 19.1% in the 4th quarter. Fifth Third Bancorp now owns 1,311 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 210 shares during the last quarter. US Bancorp DE boosted its position in shares of NewJersey Resources by 7.9% in the 3rd quarter. US Bancorp DE now owns 3,127 shares of the utilities provider’s stock worth $151,000 after purchasing an additional 228 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of NewJersey Resources by 60.1% in the 3rd quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 230 shares during the last quarter. Finally, Horizon Investment Services LLC boosted its position in shares of NewJersey Resources by 4.7% in the 3rd quarter. Horizon Investment Services LLC now owns 6,057 shares of the utilities provider’s stock worth $292,000 after purchasing an additional 273 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

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.