NewJersey Resources (NYSE:NJR) CFO Roberto Bel 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 on Monday, March 16th. The stock was sold at an average price of $55.10, for a total value of $336,385.50. Following the completion of the transaction, the chief financial officer directly owned 19,780 shares in the company, valued at approximately $1,089,878. This represents a 23.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

NewJersey Resources Price Performance

Shares of NYSE:NJR traded down $0.70 during midday trading on Tuesday, reaching $54.20. The company’s stock had a trading volume of 465,992 shares, compared to its average volume of 532,678. The business’s fifty day simple moving average is $51.35 and its 200-day simple moving average is $48.16. 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 Corporation has a fifty-two week low of $43.46 and a fifty-two week high of $55.49. The company has a market capitalization of $5.47 billion, a P/E ratio of 16.78 and a beta of 0.57.

NewJersey Resources (NYSE:NJR) last issued its quarterly earnings data on Monday, February 2nd. The utilities provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. The firm had revenue of $604.85 million for the quarter, compared to analyst estimates of $546.90 million. NewJersey Resources had a net margin of 15.18% and a return on equity of 13.06%. The company’s revenue was up 23.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.29 EPS. NewJersey Resources has set its FY 2026 guidance at 3.280-3.43 EPS. As a group, equities research analysts expect that NewJersey Resources Corporation will post 3.15 EPS for the current fiscal year.

NewJersey Resources Dividend Announcement

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

Institutional Trading of NewJersey Resources

Large investors have recently made changes to their positions in the company. Norges Bank bought a new position in NewJersey Resources during the fourth quarter worth about $60,075,000. Millennium Management LLC lifted its holdings in shares of NewJersey Resources by 895.7% during the 3rd quarter. Millennium Management LLC now owns 677,352 shares of the utilities provider’s stock valued at $32,614,000 after purchasing an additional 609,323 shares in the last quarter. Energy Income Partners LLC grew its position in shares of NewJersey Resources by 145.7% in the 2nd quarter. Energy Income Partners LLC now owns 798,661 shares of the utilities provider’s stock valued at $35,796,000 after purchasing an additional 473,664 shares during the period. Dimensional Fund Advisors LP increased its stake in NewJersey Resources by 10.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,934,165 shares of the utilities provider’s stock worth $181,446,000 after purchasing an additional 367,844 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in NewJersey Resources by 77.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 730,300 shares of the utilities provider’s stock worth $32,732,000 after buying an additional 317,932 shares during the period. Institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NJR shares. Raymond James Financial restated an “outperform” rating on shares of NewJersey Resources in a research report on Tuesday, February 3rd. Williams Trading set a $55.00 price objective on NewJersey Resources in a report on Tuesday, February 3rd. Argus upgraded shares of NewJersey Resources to a “strong-buy” rating in a research report on Thursday, January 22nd. Mizuho raised shares of 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 note on Wednesday, December 17th. Finally, Weiss Ratings raised shares of NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.00.

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.