Patrick Migliaccio Sells 3,000 Shares of NewJersey Resources (NYSE:NJR) Stock

NewJersey Resources Corporation (NYSE:NJR) COO Patrick Migliaccio sold 3,000 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $55.63, for a total transaction of $166,890.00. Following the completion of the transaction, the chief operating officer directly owned 32,202 shares of the company’s stock, valued at approximately $1,791,397.26. This represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

NewJersey Resources Stock Up 1.1%

NYSE:NJR opened at $55.59 on Wednesday. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 15.36 and a beta of 0.50. NewJersey Resources Corporation has a 52-week low of $43.46 and a 52-week high of $60.86. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.45 and a current ratio of 0.66. The stock’s fifty day moving average price is $56.85 and its two-hundred day moving average price is $55.55.

NewJersey Resources (NYSE:NJR) last posted its quarterly earnings results on Monday, August 3rd. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. The business had revenue of $349.18 million for the quarter, compared to analysts’ expectations of $342.13 million. NewJersey Resources had a return on equity of 14.46% and a net margin of 16.42%.The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.15) earnings per share. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. On average, analysts anticipate that NewJersey Resources Corporation will post 3.59 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in NewJersey Resources in the second quarter valued at about $1,008,340,000. Dimensional Fund Advisors LP boosted its position in NewJersey Resources by 5.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,141,330 shares of the utilities provider’s stock valued at $227,447,000 after buying an additional 207,165 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of NewJersey Resources by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,629,373 shares of the utilities provider’s stock valued at $121,285,000 after acquiring an additional 10,448 shares in the last quarter. Energy Income Partners LLC acquired a new stake in shares of NewJersey Resources during the second quarter valued at about $78,592,000. Finally, Northern Trust Corp grew its holdings in NewJersey Resources by 1.1% during the 3rd quarter. Northern Trust Corp now owns 1,335,344 shares of the utilities provider’s stock worth $64,297,000 after acquiring an additional 14,512 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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