Christopher D’antuono Sells 1,150 Shares of NewJersey Resources (NYSE:NJR) Stock

NewJersey Resources Corporation (NYSE:NJR) insider Christopher D’antuono sold 1,150 shares of the business’s 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 sale, the insider owned 2,985 shares in the company, valued at approximately $171,159.90. This trade represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

NewJersey Resources Stock Up 0.5%

NYSE:NJR traded up $0.27 during trading hours on Tuesday, reaching $57.54. 510,146 shares of the stock were exchanged, compared to its average volume of 552,799. The stock has a market cap of $5.81 billion, a PE ratio of 17.07 and a beta of 0.51. NewJersey Resources Corporation has a twelve month low of $43.46 and a twelve month high of $58.57. The firm has a 50 day moving average of $55.79 and a 200 day moving average of $51.32. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.80.

NewJersey Resources (NYSE:NJR) last issued its quarterly earnings results on Monday, May 4th. The utilities provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.31. The company had revenue of $939.40 million during the quarter, compared to analysts’ expectations of $849.95 million. NewJersey Resources had a net margin of 15.67% and a return on equity of 14.58%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the business earned $1.78 EPS. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. On average, equities analysts expect 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. Investors of record on Wednesday, June 10th will be issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 3.3%. The ex-dividend date is Wednesday, June 10th. NewJersey Resources’s dividend payout ratio is presently 56.38%.

Analysts Set New Price Targets

Several analysts have issued reports on NJR shares. Wall Street Zen upgraded NewJersey Resources from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Mizuho upped 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. Argus set a $63.00 price target on NewJersey Resources in a research report on Wednesday, May 20th. Wells Fargo & Company began coverage on NewJersey Resources in a research report on Tuesday, May 12th. They set an “overweight” rating and a $63.00 price target on the stock. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of NewJersey Resources in a report on Tuesday, February 3rd. Two investment analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $57.14.

Hedge Funds Weigh In On NewJersey Resources

Hedge funds have recently made changes to their positions in the stock. Root Financial Partners LLC raised its position in shares of NewJersey Resources by 56.5% during the first quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 190 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of NewJersey Resources in the 3rd quarter worth about $28,000. Bessemer Group Inc. grew its stake in shares of NewJersey Resources by 60.1% in the 3rd quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock valued at $29,000 after buying an additional 230 shares during the period. Torren Management LLC acquired a new stake in shares of NewJersey Resources in the 4th quarter valued at about $35,000. Finally, CENTRAL TRUST Co grew its stake in shares of NewJersey Resources by 172.7% in the 1st quarter. CENTRAL TRUST Co now owns 818 shares of the utilities provider’s stock valued at $45,000 after buying an additional 518 shares during the period. 70.98% of the stock is currently owned by 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.