Insider Selling: NewJersey Resources (NYSE:NJR) Director Sells 8,000 Shares of Stock

NewJersey Resources Corporation (NYSE:NJR) Director Jane Kenny sold 8,000 shares of NewJersey Resources stock in a transaction dated 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 directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

NewJersey Resources Stock Performance

NJR traded up $0.04 on Monday, hitting $55.59. 40,873 shares of the company traded hands, compared to its average volume of 547,485. The company has a 50 day moving average of $55.13 and a 200-day moving average of $50.33. 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 stock has a market capitalization of $5.61 billion, a PE ratio of 16.50 and a beta of 0.51. NewJersey Resources Corporation has a 12-month low of $43.46 and a 12-month high of $57.85.

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. The business had revenue of $939.40 million during the quarter, compared to the consensus estimate of $849.95 million. NewJersey Resources had a return on equity of 14.58% and a net margin of 15.67%.The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.78 EPS. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. Sell-side analysts anticipate that NewJersey Resources Corporation will post 3.5 earnings per share for the current year.

NewJersey Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Wednesday, June 10th. NewJersey Resources’s dividend payout ratio is 56.38%.

Analysts Set New Price Targets

A number of equities research analysts have commented on NJR shares. Wall Street Zen upgraded NewJersey Resources from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Williams Trading set a $55.00 price objective on NewJersey Resources in a report on Tuesday, February 3rd. Mizuho raised their price objective on NewJersey Resources from $54.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, April 21st. Weiss Ratings upgraded NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 13th. Finally, Argus upgraded NewJersey Resources to a “strong-buy” rating in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. Based on data from MarketBeat.com, NewJersey Resources presently has a consensus rating of “Buy” and a consensus target price of $54.80.

Institutional Trading of NewJersey Resources

A number of hedge funds and other institutional investors have recently modified their holdings of NJR. Measured Wealth Private Client Group LLC acquired a new position in NewJersey Resources in the third quarter worth about $28,000. Bessemer Group Inc. grew its stake in 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. Root Financial Partners LLC grew 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 worth $29,000 after purchasing an additional 190 shares in the last quarter. Torren Management LLC acquired a new position in NewJersey Resources in the fourth quarter worth about $35,000. Finally, Smartleaf Asset Management LLC grew its stake in 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 in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

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.