Insider Selling: NewJersey Resources (NYSE:NJR) CFO Sells 6,105 Shares of Stock

NewJersey Resources Corporation (NYSE:NJR) CFO Roberto Bel sold 6,105 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $55.10, for a total value of $336,385.50. Following the completion of the sale, the chief financial officer directly owned 19,780 shares of the company’s stock, valued at approximately $1,089,878. The trade was a 23.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

NewJersey Resources Stock Down 1.3%

NYSE:NJR traded down $0.70 during mid-day trading on Tuesday, reaching $54.20. The stock had a trading volume of 465,992 shares, compared to its average volume of 532,678. The stock has a market cap of $5.47 billion, a P/E ratio of 16.78 and a beta of 0.57. The business’s 50 day moving average is $51.35 and its 200 day moving average is $48.16. NewJersey Resources Corporation has a fifty-two week low of $43.46 and a fifty-two week high of $55.49. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.83 and a quick ratio of 0.58.

NewJersey Resources (NYSE:NJR) last released its quarterly earnings results on Monday, February 2nd. The utilities provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. NewJersey Resources had a net margin of 15.18% and a return on equity of 13.06%. The company had revenue of $604.85 million for the quarter, compared to analyst estimates of $546.90 million. During the same quarter last year, the firm posted $1.29 earnings per share. The company’s quarterly revenue 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. As a group, sell-side analysts predict that NewJersey Resources Corporation will post 3.15 earnings per share for the current year.

NewJersey Resources Dividend Announcement

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

Wall Street Analysts Forecast Growth

NJR has been the topic of several research reports. New Street Research set a $54.00 price target on NewJersey Resources in a research note on Wednesday, December 17th. Weiss Ratings upgraded NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 13th. Mizuho upgraded NewJersey Resources from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $51.00 to $54.00 in a research report on Wednesday, December 17th. Raymond James Financial restated an “outperform” rating on shares of NewJersey Resources in a research note on Tuesday, February 3rd. Finally, Wall Street Zen raised NewJersey Resources from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, NewJersey Resources currently has an average rating of “Moderate Buy” and a consensus target price of $53.00.

Hedge Funds Weigh In On NewJersey Resources

A number of hedge funds have recently modified their holdings of NJR. Measured Wealth Private Client Group LLC acquired a new stake in NewJersey Resources in the 3rd quarter valued at $28,000. Bessemer Group Inc. lifted its holdings in shares of NewJersey Resources by 60.1% during the third quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 230 shares during the period. Tradewinds Capital Management LLC acquired a new stake in shares of NewJersey Resources in the 3rd quarter valued at $30,000. Torren Management LLC bought a new stake in shares of NewJersey Resources in the 4th quarter worth about $35,000. Finally, Smartleaf Asset Management LLC increased its position in shares of NewJersey Resources by 118.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 933 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 505 shares in the last quarter. 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.