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

NewJersey Resources Corporation (NYSE:NJR) SVP Richard Reich sold 5,449 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $52.99, for a total transaction of $288,742.51. Following the transaction, the senior vice president directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

NewJersey Resources Price Performance

NYSE NJR opened at $52.70 on Friday. The company has a 50-day moving average price of $51.92 and a two-hundred day moving average price of $48.33. NewJersey Resources Corporation has a 52 week low of $43.46 and a 52 week high of $55.49. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 16.32 and a beta of 0.57. The company has a current ratio of 0.83, a quick ratio of 0.58 and a debt-to-equity ratio of 1.32.

NewJersey Resources (NYSE:NJR) last released its quarterly earnings results on Monday, February 2nd. The utilities provider reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. NewJersey Resources had a return on equity of 13.06% and a net margin of 15.18%.The company had revenue of $604.85 million for the quarter, compared to analysts’ expectations of $546.90 million. During the same quarter in the previous year, the company posted $1.29 earnings per share. The business’s revenue for the quarter 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. Analysts forecast that NewJersey Resources Corporation will post 3.15 EPS for the current year.

NewJersey Resources Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently commented on NJR. Weiss Ratings raised NewJersey Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 13th. New Street Research set a $54.00 price objective on shares of NewJersey Resources in a report on Wednesday, December 17th. Williams Trading set a $55.00 target price on shares of NewJersey Resources in a research report on Tuesday, February 3rd. Argus raised shares of NewJersey Resources to a “strong-buy” rating in a research note on Thursday, January 22nd. Finally, Raymond James Financial restated an “outperform” rating on shares of NewJersey Resources in a research 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 stock. According to data from MarketBeat.com, NewJersey Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Measured Wealth Private Client Group LLC bought a new stake in shares of NewJersey Resources during the 3rd quarter worth $28,000. Bessemer Group Inc. boosted its position in shares of NewJersey Resources by 60.1% in the 3rd quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 230 shares during the period. Tradewinds Capital Management LLC acquired a new position in shares of NewJersey Resources in the 3rd quarter valued at $30,000. Torren Management LLC acquired a new position in shares of NewJersey Resources in the 4th quarter valued at $35,000. Finally, Smartleaf Asset Management LLC increased its stake in NewJersey Resources by 118.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 933 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 505 shares in the last quarter. 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.