Christopher D’antuono Sells 1,150 Shares of NewJersey Resources (NYSE:NJR) Stock

NewJersey Resources Corporation (NYSE:NJR) insider Christopher D’antuono sold 1,150 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $57.34, for a total value of $65,941.00. Following the completion of the sale, the insider directly owned 2,985 shares in the company, valued at approximately $171,159.90. The trade was a 27.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

NewJersey Resources Stock Down 1.3%

Shares of NJR opened at $56.79 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.80 and a debt-to-equity ratio of 1.24. NewJersey Resources Corporation has a 12 month low of $43.46 and a 12 month high of $58.57. The stock’s 50 day moving average is $55.88 and its two-hundred day moving average is $51.50. The firm has a market cap of $5.73 billion, a P/E ratio of 16.85 and a beta of 0.51.

NewJersey Resources (NYSE:NJR) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $2.20 EPS for the quarter, beating the consensus estimate of $1.89 by $0.31. NewJersey Resources had a return on equity of 14.58% and a net margin of 15.67%.The company had revenue of $939.40 million for the quarter, compared to analyst estimates of $849.95 million. During the same period last year, the company earned $1.78 earnings per share. NewJersey Resources’s quarterly revenue was up 2.9% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. Analysts predict that NewJersey Resources Corporation will post 3.5 earnings per share for the current fiscal year.

NewJersey Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th will be paid a $0.475 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.3%. NewJersey Resources’s payout ratio is currently 56.38%.

Hedge Funds Weigh In On NewJersey Resources

A number of institutional investors have recently added to or reduced their stakes in NJR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in NewJersey Resources by 6.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,363 shares of the utilities provider’s stock valued at $2,912,000 after purchasing an additional 3,422 shares during the period. NewEdge Advisors LLC raised its position in 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in 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 period. Jane Street Group LLC purchased a new stake in NewJersey Resources in the first quarter valued at $8,907,000. Finally, Invesco Ltd. raised its position in NewJersey Resources by 14.4% in the second quarter. Invesco Ltd. now owns 465,923 shares of the utilities provider’s stock valued at $20,883,000 after purchasing an additional 58,795 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NJR shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of NewJersey Resources in a research note on Wednesday, May 13th. Raymond James Financial reaffirmed an “outperform” rating on shares of NewJersey Resources in a research note on Tuesday, February 3rd. Williams Trading set a $55.00 price target on NewJersey Resources in a research note on Tuesday, February 3rd. Mizuho lifted their price target on NewJersey Resources from $54.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 21st. Finally, Wells Fargo & Company started coverage on NewJersey Resources in a research note on Tuesday, May 12th. They issued an “overweight” rating and a $63.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $58.17.

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.