Patrick Migliaccio Sells 4,017 Shares of NewJersey Resources (NYSE:NJR) Stock

NewJersey Resources Corporation (NYSE:NJR) COO Patrick Migliaccio sold 4,017 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $46.46, for a total value of $186,629.82. Following the sale, the chief operating officer directly owned 38,065 shares in the company, valued at approximately $1,768,499.90. This represents a 9.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

NewJersey Resources Price Performance

Shares of NJR opened at $46.35 on Wednesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.40 and a current ratio of 0.73. The firm has a market capitalization of $4.67 billion, a PE ratio of 13.92 and a beta of 0.61. The stock has a 50 day simple moving average of $46.17 and a 200 day simple moving average of $46.27. NewJersey Resources Corporation has a 52-week low of $43.46 and a 52-week high of $50.76.

NewJersey Resources (NYSE:NJR) last posted its quarterly earnings data on Wednesday, November 19th. The utilities provider reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.01. NewJersey Resources had a return on equity of 13.73% and a net margin of 16.48%.The company had revenue of $336.08 million during the quarter, compared to analysts’ expectations of $307.30 million. During the same period in the prior year, the firm earned $0.89 earnings per share. NewJersey Resources’s revenue for the quarter was down 15.1% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.030-3.180 EPS. Sell-side analysts predict that NewJersey Resources Corporation will post 3.15 EPS for the current fiscal year.

NewJersey Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 12th will be given a $0.475 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $1.90 dividend on an annualized basis and a yield of 4.1%. NewJersey Resources’s dividend payout ratio (DPR) is 57.06%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. boosted its position in shares of NewJersey Resources by 633.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,549 shares of the utilities provider’s stock worth $223,000 after acquiring an additional 3,929 shares in the last quarter. Jane Street Group LLC bought a new stake in NewJersey Resources during the first quarter worth $8,907,000. Magnetar Financial LLC acquired a new stake in shares of NewJersey Resources in the 1st quarter valued at $270,000. Energy Income Partners LLC increased its stake in shares of NewJersey Resources by 4.2% in the 1st quarter. Energy Income Partners LLC now owns 324,997 shares of the utilities provider’s stock valued at $15,944,000 after purchasing an additional 13,114 shares during the last quarter. Finally, Graham Capital Management L.P. raised its holdings in shares of NewJersey Resources by 230.9% during the 1st quarter. Graham Capital Management L.P. now owns 32,520 shares of the utilities provider’s stock worth $1,595,000 after buying an additional 22,692 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NJR shares. Raymond James Financial restated an “outperform” rating and set a $53.00 price objective on shares of NewJersey Resources in a research note on Thursday, November 20th. Wall Street Zen downgraded NewJersey Resources from a “hold” rating to a “sell” rating in a research report on Sunday. Mizuho raised NewJersey Resources from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $51.00 to $54.00 in a research report on Wednesday, December 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of NewJersey Resources in a research note on Monday. Finally, New Street Research set a $54.00 price target on NewJersey Resources in a research note on Wednesday, December 17th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, NewJersey Resources has a consensus rating of “Hold” and a consensus price target of $52.86.

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.