NewJersey Resources (NYSE:NJR) COO Sells $166,890.00 in Stock

NewJersey Resources Corporation (NYSE:NJR) COO Patrick Migliaccio sold 3,000 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $55.63, for a total value of $166,890.00. Following the completion of the sale, the chief operating officer directly owned 32,202 shares of the company’s stock, valued at approximately $1,791,397.26. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

NewJersey Resources Stock Performance

Shares of NJR opened at $55.13 on Thursday. The company has a 50-day simple moving average of $56.85 and a 200-day simple moving average of $55.59. The company has a quick ratio of 0.45, a current ratio of 0.66 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $5.59 billion, a PE ratio of 15.23 and a beta of 0.50. NewJersey Resources Corporation has a 52-week low of $43.46 and a 52-week high of $60.86.

NewJersey Resources (NYSE:NJR) last released its quarterly earnings data on Monday, August 3rd. The utilities provider reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The firm had revenue of $349.18 million for the quarter, compared to the consensus estimate of $342.13 million. NewJersey Resources had a net margin of 16.42% and a return on equity of 14.46%. The firm’s revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. Equities research analysts predict that NewJersey Resources Corporation will post 3.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NewJersey Resources

Several hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in NewJersey Resources by 6.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,363 shares of the utilities provider’s stock worth $2,912,000 after acquiring an additional 3,422 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of NewJersey Resources by 65.7% in the first quarter. NewEdge Advisors LLC now owns 22,214 shares of the utilities provider’s stock valued at $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 grew its position in shares of NewJersey Resources by 10.1% in the first 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 purchasing an additional 29,458 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of NewJersey Resources during the 1st quarter worth approximately $8,907,000. Finally, Invesco Ltd. raised its position in shares of 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.

Analyst Upgrades and Downgrades

NJR has been the topic of several research analyst reports. Weiss Ratings lowered NewJersey Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Wells Fargo & Company cut NewJersey Resources from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $63.00 to $61.00 in a report on Wednesday, August 5th. Finally, Argus set a $63.00 target price on NewJersey Resources in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $57.83.

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.