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 company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $55.63, for a total transaction of $166,890.00. Following the sale, the chief operating officer directly owned 32,202 shares in the company, valued at approximately $1,791,397.26. The trade was a 8.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

NewJersey Resources Trading Down 1.6%

NYSE NJR traded down $0.87 during trading hours on Monday, hitting $54.73. 118,937 shares of the company were exchanged, compared to its average volume of 601,460. The stock has a 50-day moving average price of $56.83 and a 200 day moving average price of $55.46. The company has a quick ratio of 0.45, a current ratio of 0.66 and a debt-to-equity ratio of 1.21. NewJersey Resources Corporation has a 52 week low of $43.46 and a 52 week high of $60.86. The stock has a market cap of $5.55 billion, a PE ratio of 15.14 and a beta of 0.50.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its stake in shares of NewJersey Resources by 29.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 46,535 shares of the utilities provider’s stock worth $2,146,000 after purchasing an additional 10,666 shares during the last quarter. World Investment Advisors bought a new stake in NewJersey Resources during the fourth quarter valued at about $1,924,000. Norges Bank bought a new stake in shares of NewJersey Resources in the 4th quarter valued at about $60,075,000. Louisiana State Employees Retirement System bought a new stake in shares of NewJersey Resources in the 1st quarter valued at about $1,604,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of NewJersey Resources by 613.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 179,425 shares of the utilities provider’s stock worth $9,854,000 after buying an additional 154,288 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NJR shares. Argus set a $63.00 price target on shares of NewJersey Resources in a report on Wednesday, May 20th. Mizuho raised their price objective on shares of NewJersey Resources from $54.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 21st. Wells Fargo & Company lowered NewJersey Resources from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $63.00 to $61.00 in a research report on Wednesday, August 5th. Finally, Weiss Ratings cut NewJersey Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, NewJersey Resources presently has an average rating of “Buy” and a consensus target price of $57.83.

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.