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 the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $55.63, for a total value of $166,890.00. Following the completion of the transaction, the chief operating officer directly owned 32,202 shares in the company, valued at approximately $1,791,397.26. The trade was a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NewJersey Resources Stock Performance

Shares of NJR opened at $54.98 on Tuesday. The stock has a 50-day moving average of $56.84 and a two-hundred day moving average of $55.50. NewJersey Resources Corporation has a one year low of $43.46 and a one year high of $60.86. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.45 and a current ratio of 0.66. The stock has a market cap of $5.58 billion, a P/E ratio of 15.19 and a beta of 0.50.

NewJersey Resources (NYSE:NJR) last posted its quarterly earnings results on Monday, August 3rd. The utilities provider reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.05. NewJersey Resources had a return on equity of 14.46% and a net margin of 16.42%.The business had revenue of $349.18 million for the quarter, compared to the consensus estimate of $342.13 million. During the same quarter in the previous year, the business earned ($0.15) EPS. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. As a group, research analysts predict that NewJersey Resources Corporation will post 3.59 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its holdings in NewJersey Resources by 29.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 46,535 shares of the utilities provider’s stock worth $2,146,000 after buying an additional 10,666 shares in the last quarter. World Investment Advisors purchased a new position in NewJersey Resources in the fourth quarter valued at $1,924,000. Norges Bank acquired a new position in shares of NewJersey Resources in the fourth quarter worth about $60,075,000. Louisiana State Employees Retirement System acquired a new position in shares of NewJersey Resources in the first quarter worth about $1,604,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of NewJersey Resources by 613.8% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 179,425 shares of the utilities provider’s stock worth $9,854,000 after acquiring an additional 154,288 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on NJR shares. Mizuho lifted their price objective on shares of NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, April 21st. Wells Fargo & Company lowered shares of NewJersey Resources from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $63.00 to $61.00 in a research note on Wednesday, August 5th. Argus set a $63.00 target price on shares of NewJersey Resources in a report on Wednesday, May 20th. Finally, Weiss Ratings downgraded shares of NewJersey Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, NewJersey Resources currently has a consensus rating of “Buy” and an average price target of $57.83.

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.