Insider Selling: NewJersey Resources (NYSE:NJR) CFO Sells $336,385.50 in Stock

NewJersey Resources Corporation (NYSE:NJR) CFO Roberto Bel sold 6,105 shares of NewJersey Resources stock in a transaction on Monday, March 16th. The stock was sold at an average price of $55.10, for a total transaction of $336,385.50. Following the transaction, the chief financial officer directly owned 19,780 shares of the company’s stock, valued at $1,089,878. The trade was a 23.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

NewJersey Resources Trading Up 1.0%

Shares of NJR opened at $53.80 on Friday. NewJersey Resources Corporation has a twelve month low of $43.46 and a twelve month high of $55.49. The company has a market cap of $5.43 billion, a P/E ratio of 16.66 and a beta of 0.57. The company has a current ratio of 0.83, a quick ratio of 0.58 and a debt-to-equity ratio of 1.32. The company’s fifty day simple moving average is $51.80 and its 200-day simple moving average is $48.28.

NewJersey Resources (NYSE:NJR) last released its earnings results on Monday, February 2nd. The utilities provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.22. The firm had revenue of $604.85 million during 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 business’s revenue was up 23.8% on a year-over-year basis. During the same quarter last year, the business earned $1.29 EPS. NewJersey Resources has set its FY 2026 guidance at 3.280-3.43 EPS. As a group, analysts expect that NewJersey Resources Corporation will post 3.15 EPS for the current year.

NewJersey Resources Dividend Announcement

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

Institutional Trading of NewJersey Resources

Several institutional investors and hedge funds have recently modified their holdings of NJR. SG Americas Securities LLC grew its position in shares of NewJersey Resources by 127.1% during the 2nd quarter. SG Americas Securities LLC now owns 19,637 shares of the utilities provider’s stock worth $880,000 after buying an additional 10,990 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of NewJersey Resources by 101.3% in the second quarter. Hsbc Holdings PLC now owns 212,305 shares of the utilities provider’s stock valued at $9,464,000 after acquiring an additional 106,856 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in NewJersey Resources in the third quarter worth about $1,136,000. Thrivent Financial for Lutherans lifted its stake in NewJersey Resources by 200.1% in the third quarter. Thrivent Financial for Lutherans now owns 71,444 shares of the utilities provider’s stock worth $3,440,000 after acquiring an additional 47,635 shares during the period. Finally, Squarepoint Ops LLC grew its holdings in NewJersey Resources by 348.3% during the 2nd quarter. Squarepoint Ops LLC now owns 123,816 shares of the utilities provider’s stock worth $5,549,000 after acquiring an additional 96,195 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NJR shares. New Street Research set a $54.00 price target on NewJersey Resources in a report on Wednesday, December 17th. Wall Street Zen upgraded NewJersey Resources from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Raymond James Financial reaffirmed an “outperform” rating on shares of NewJersey Resources in a research report on Tuesday, February 3rd. Weiss Ratings upgraded NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 13th. Finally, Argus raised shares of NewJersey Resources to a “strong-buy” rating in a research note on Thursday, January 22nd. One 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.00.

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.