NewJersey Resources (NYSE:NJR) SVP Richard Reich Sells 5,449 Shares of Stock

NewJersey Resources Corporation (NYSE:NJR) SVP Richard Reich sold 5,449 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $52.99, for a total value of $288,742.51. Following the sale, the senior vice president owned 26,975 shares of the company’s stock, valued at $1,429,405.25. The trade was a 16.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

NewJersey Resources Trading Down 2.0%

NYSE:NJR opened at $52.70 on Friday. The stock has a market cap of $5.31 billion, a PE ratio of 16.32 and a beta of 0.57. 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 debt-to-equity ratio of 1.32, a current ratio of 0.83 and a quick ratio of 0.58. The stock’s 50-day moving average is $51.92 and its two-hundred day moving average is $48.32.

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

NewJersey Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th will be paid a $0.475 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.6%. NewJersey Resources’s dividend payout ratio is 58.82%.

Institutional Trading of NewJersey Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp lifted its holdings in shares of NewJersey Resources by 19.1% during the fourth quarter. Fifth Third Bancorp now owns 1,311 shares of the utilities provider’s stock worth $60,000 after buying an additional 210 shares during the last quarter. US Bancorp DE grew its stake in shares of NewJersey Resources by 7.9% in the third quarter. US Bancorp DE now owns 3,127 shares of the utilities provider’s stock worth $151,000 after acquiring an additional 228 shares during the last quarter. Bessemer Group Inc. increased its position in NewJersey Resources by 60.1% during the third quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 230 shares during the period. Steward Partners Investment Advisory LLC increased its position in NewJersey Resources by 0.8% during the second quarter. Steward Partners Investment Advisory LLC now owns 31,318 shares of the utilities provider’s stock worth $1,404,000 after acquiring an additional 236 shares during the period. Finally, Horizon Investment Services LLC raised its stake in NewJersey Resources by 4.7% during the 3rd quarter. Horizon Investment Services LLC now owns 6,057 shares of the utilities provider’s stock valued at $292,000 after purchasing an additional 273 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

NJR has been the subject of a number of research reports. Weiss Ratings raised NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 13th. New Street Research set a $54.00 price target on NewJersey Resources in a research note on Wednesday, December 17th. Raymond James Financial reiterated an “outperform” rating on shares of NewJersey Resources in a report on Tuesday, February 3rd. Mizuho raised NewJersey Resources from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $51.00 to $54.00 in a research note on Wednesday, December 17th. Finally, Williams Trading set a $55.00 price objective on NewJersey Resources in a report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, NewJersey Resources presently has a consensus rating of “Moderate Buy” and an average price target 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.