Patrick Migliaccio Sells 3,000 Shares of NewJersey Resources (NYSE:NJR) Stock

NewJersey Resources Corporation (NYSE:NJR) COO Patrick Migliaccio sold 3,000 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $55.84, for a total value of $167,520.00. Following the sale, the chief operating officer directly owned 35,202 shares in the company, valued at approximately $1,965,679.68. The trade was a 7.85% 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 Price Performance

Shares of NJR traded up $0.17 during trading hours on Wednesday, reaching $57.13. 557,301 shares of the company traded hands, compared to its average volume of 551,316. 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 $5.77 billion, a PE ratio of 16.95 and a beta of 0.51. NewJersey Resources Corporation has a fifty-two week low of $43.46 and a fifty-two week high of $57.85. The stock has a fifty day simple moving average of $55.27 and a 200 day simple moving average of $50.54.

NewJersey Resources (NYSE:NJR) last posted its quarterly earnings data on Monday, May 4th. The utilities provider reported $2.20 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 business had revenue of $939.40 million for the quarter, compared to analyst estimates of $849.95 million. During the same quarter last year, the company earned $1.78 earnings per share. The business’s revenue for the quarter 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. As a group, research analysts predict that NewJersey Resources Corporation will post 3.5 EPS for the current fiscal year.

NewJersey Resources Announces Dividend

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

Institutional Investors Weigh In On NewJersey Resources

Hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 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 purchasing an additional 3,422 shares during the last quarter. NewEdge Advisors LLC increased its holdings in NewJersey Resources by 65.7% during the 1st quarter. NewEdge Advisors LLC now owns 22,214 shares of the utilities provider’s stock worth $1,090,000 after purchasing an additional 8,808 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in 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 worth $15,705,000 after purchasing an additional 29,458 shares during the last quarter. Jane Street Group LLC purchased a new stake in NewJersey Resources during the 1st quarter worth approximately $8,907,000. Finally, Invesco Ltd. increased its holdings in NewJersey Resources by 14.4% during the 2nd quarter. Invesco Ltd. now owns 465,923 shares of the utilities provider’s stock worth $20,883,000 after purchasing an additional 58,795 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NJR. Raymond James Financial reissued an “outperform” rating on shares of NewJersey Resources in a research note on Tuesday, February 3rd. Argus raised NewJersey Resources to a “strong-buy” rating in a research note on Thursday, January 22nd. Wall Street Zen raised NewJersey Resources from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Mizuho raised their price target on NewJersey Resources from $54.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 21st. Finally, Wells Fargo & Company began coverage on NewJersey Resources in a research note on Tuesday. They issued 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 four have issued a Buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $56.17.

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.