Insider Selling: NewJersey Resources (NYSE:NJR) Insider Sells $65,941.00 in Stock

NewJersey Resources Corporation (NYSE:NJR) insider Christopher D’antuono sold 1,150 shares of NewJersey Resources stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $57.34, for a total value of $65,941.00. Following the completion of the transaction, the insider owned 2,985 shares in the company, valued at approximately $171,159.90. This represents a 27.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

NewJersey Resources Stock Performance

NewJersey Resources stock opened at $55.56 on Friday. NewJersey Resources Corporation has a 12-month low of $43.46 and a 12-month 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 business’s 50-day moving average price is $55.91 and its two-hundred day moving average price is $51.57. The stock has a market cap of $5.61 billion, a PE ratio of 16.49 and a beta of 0.51.

NewJersey Resources (NYSE:NJR) last released its earnings results on Monday, May 4th. The utilities provider reported $2.20 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $939.40 million for the quarter, compared to analysts’ expectations of $849.95 million. During the same quarter in the previous year, the business posted $1.78 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. As a group, analysts expect that NewJersey Resources Corporation will post 3.5 earnings per share for the current fiscal year.

NewJersey Resources Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Wednesday, June 10th. NewJersey Resources’s payout ratio is currently 56.38%.

Analysts Set New Price Targets

A number of research analysts have issued reports on NJR shares. Mizuho lifted their target price on NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, April 21st. Weiss Ratings upgraded NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday. Argus set a $63.00 target price on NewJersey Resources in a research report on Wednesday, May 20th. Raymond James Financial reiterated an “outperform” rating on shares of NewJersey Resources in a research report on Tuesday, February 3rd. Finally, Wells Fargo & Company initiated coverage on NewJersey Resources in a research note on Tuesday, May 12th. They set an “overweight” rating and a $63.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $58.17.

Hedge Funds Weigh In On NewJersey Resources

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Thrivent Financial for Lutherans lifted its stake in NewJersey Resources by 200.1% in the third quarter. Thrivent Financial for Lutherans now owns 71,444 shares of the utilities provider’s stock valued at $3,440,000 after buying an additional 47,635 shares during the period. Victory Capital Management Inc. lifted its stake in NewJersey Resources by 68.2% in the third quarter. Victory Capital Management Inc. now owns 610,166 shares of the utilities provider’s stock valued at $29,379,000 after buying an additional 247,310 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in NewJersey Resources by 603.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 81,289 shares of the utilities provider’s stock valued at $3,784,000 after buying an additional 69,736 shares during the period. Advisors Preferred LLC lifted its stake in NewJersey Resources by 147.1% in the third quarter. Advisors Preferred LLC now owns 133,438 shares of the utilities provider’s stock valued at $6,361,000 after buying an additional 79,436 shares during the period. Finally, Aptus Capital Advisors LLC lifted its stake in NewJersey Resources by 14.9% in the third quarter. Aptus Capital Advisors LLC now owns 200,427 shares of the utilities provider’s stock valued at $9,651,000 after buying an additional 26,020 shares during the period. 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.