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

NewJersey Resources Corporation (NYSE:NJR) insider Christopher D’antuono sold 1,150 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $57.34, for a total transaction of $65,941.00. Following the transaction, the insider owned 2,985 shares in the company, valued at $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 can be accessed through the SEC website.

NewJersey Resources Trading Up 0.5%

Shares of NJR opened at $57.54 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.80 and a debt-to-equity ratio of 1.24. The firm’s 50-day moving average is $55.84 and its two-hundred day moving average is $51.41. NewJersey Resources Corporation has a twelve month low of $43.46 and a twelve month high of $58.57. The firm has a market capitalization of $5.81 billion, a P/E ratio of 17.07 and a beta of 0.51.

NewJersey Resources (NYSE:NJR) last issued its earnings results on Monday, May 4th. The utilities provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.31. NewJersey Resources had a net margin of 15.67% and a return on equity of 14.58%. The company had revenue of $939.40 million for the quarter, compared to analyst estimates of $849.95 million. During the same period in the prior year, the business posted $1.78 earnings per share. The firm’s revenue for the quarter 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. On average, research analysts predict that NewJersey Resources Corporation will post 3.5 earnings per share for the current fiscal year.

NewJersey Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th will be given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 3.3%. The ex-dividend date is Wednesday, June 10th. NewJersey Resources’s dividend payout ratio is presently 56.38%.

Wall Street Analyst Weigh In

NJR has been the topic of several recent analyst reports. Raymond James Financial restated an “outperform” rating on shares of NewJersey Resources in a research report on Tuesday, February 3rd. Wall Street Zen upgraded shares of NewJersey Resources from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of NewJersey Resources in a research report on Wednesday, May 13th. Williams Trading set a $55.00 price target on shares of NewJersey Resources in a research report on Tuesday, February 3rd. Finally, Mizuho increased their price target on shares of NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $57.14.

Hedge Funds Weigh In On NewJersey Resources

Institutional investors and hedge funds have recently modified their holdings of the company. Measured Wealth Private Client Group LLC purchased a new position in shares of NewJersey Resources during the third quarter valued at approximately $28,000. Bessemer Group Inc. lifted its stake in shares of NewJersey Resources by 60.1% during the third quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock valued at $29,000 after buying an additional 230 shares during the period. Root Financial Partners LLC lifted its stake in shares of NewJersey Resources by 56.5% during the first quarter. Root Financial Partners LLC now owns 526 shares of the utilities provider’s stock valued at $29,000 after buying an additional 190 shares during the period. Torren Management LLC purchased a new position in shares of NewJersey Resources during the fourth quarter valued at approximately $35,000. Finally, Smartleaf Asset Management LLC raised its stake in NewJersey Resources by 118.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 933 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 505 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

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.