NewJersey Resources (NYSE:NJR) CFO Roberto Bel Sells 6,105 Shares

NewJersey Resources Corporation (NYSE:NJR) CFO Roberto Bel sold 6,105 shares of NewJersey Resources stock in a transaction on Monday, March 16th. The stock was sold at an average price of $55.10, for a total transaction of $336,385.50. Following the transaction, the chief financial officer owned 19,780 shares in the company, valued at approximately $1,089,878. This trade represents a 23.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

NewJersey Resources Stock Performance

NYSE NJR opened at $54.20 on Wednesday. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 16.78 and a beta of 0.57. NewJersey Resources Corporation has a twelve month low of $43.46 and a twelve month high of $55.49. The stock has a fifty day simple moving average of $51.51 and a 200 day simple moving average of $48.21. The company has a quick ratio of 0.58, a current ratio of 0.83 and a debt-to-equity ratio of 1.32.

NewJersey Resources (NYSE:NJR) last announced its earnings results on Monday, February 2nd. The utilities provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.22. NewJersey Resources had a return on equity of 13.06% and a net margin of 15.18%.The business had revenue of $604.85 million during the quarter, compared to analyst estimates of $546.90 million. During the same period last year, the company earned $1.29 EPS. NewJersey Resources’s revenue for the quarter was up 23.8% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.280-3.43 EPS. Sell-side analysts expect that NewJersey Resources Corporation will post 3.15 EPS for the current year.

NewJersey Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 11th will be paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, March 11th. NewJersey Resources’s payout ratio is currently 58.82%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NJR. Williams Trading set a $55.00 target price on shares of NewJersey Resources in a research report on Tuesday, February 3rd. Weiss Ratings raised shares of NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 13th. Mizuho upgraded shares of NewJersey Resources from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $51.00 to $54.00 in a research report on Wednesday, December 17th. Argus raised shares of NewJersey Resources to a “strong-buy” rating in a research note on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of NewJersey Resources from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.00.

Institutional Investors Weigh In On NewJersey Resources

Hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of NewJersey Resources by 6.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,363 shares of the utilities provider’s stock worth $2,912,000 after buying an additional 3,422 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of NewJersey Resources by 65.7% in the 1st quarter. NewEdge Advisors LLC now owns 22,214 shares of the utilities provider’s stock valued at $1,090,000 after acquiring an additional 8,808 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of NewJersey Resources by 10.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 320,113 shares of the utilities provider’s stock valued at $15,705,000 after acquiring an additional 29,458 shares during the period. Jane Street Group LLC bought a new position in NewJersey Resources during the first quarter worth $8,907,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in NewJersey Resources during the second quarter worth $605,000. 70.98% of the stock is currently owned by institutional investors.

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.