Jane Kenny Sells 8,000 Shares of NewJersey Resources (NYSE:NJR) Stock

Key Points

• Insider sale: Director Jane Kenny sold 8,000 shares of NewJersey Resources at $56.10 each, totaling $448,800. After the sale, she still held 21,998 shares, reducing her position by 26.67%.
• Strong quarterly results: NewJersey Resources reported Q1 EPS of $2.20, beating estimates of $1.89, and revenue of $939.4 million, also above expectations. The company raised its FY 2026 guidance to $3.48–$3.63 per share.
• Dividend and analyst outlook: The company declared a quarterly dividend of $0.475 per share, implying a 3.4% yield, while analysts currently rate the stock a consensus Buy with a $54.80 price target.

NewJersey Resources Corporation (NYSE:NJR - Get Free Report) Director Jane Kenny sold 8,000 shares of the business's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $56.10, for a total value of $448,800.00. Following the transaction, the director directly owned 21,998 shares in the company, valued at approximately $1,234,087.80. This represents a 26.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

NewJersey Resources Trading Up 0.1%

NJR traded up $0.04 during trading hours on Monday, reaching $55.59. 40,873 shares of the company's stock traded hands, compared to its average volume of 547,485. The firm has a 50-day moving average price of $55.13 and a 200 day moving average price of $50.33. NewJersey Resources Corporation has a 52-week low of $43.46 and a 52-week high of $57.85. The company has a quick ratio of 0.80, a current ratio of 0.94 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $5.61 billion, a PE ratio of 16.50 and a beta of 0.51.

NewJersey Resources (NYSE:NJR - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The utilities provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.31. NewJersey Resources had a return on equity of 14.58% and a net margin of 15.67%.The company had revenue of $939.40 million during the quarter, compared to analysts' expectations of $849.95 million. During the same quarter in the previous year, the business earned $1.78 EPS. NewJersey Resources's revenue 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. As a group, sell-side analysts predict that NewJersey Resources Corporation will post 3.5 EPS for the current fiscal year.

NewJersey Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th will be issued a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Wednesday, June 10th. NewJersey Resources's dividend payout ratio is currently 56.38%.

Hedge Funds Weigh In On NewJersey Resources

Hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of NewJersey Resources in the fourth quarter valued at approximately $60,075,000. Millennium Management LLC raised its position in NewJersey Resources by 895.7% in the third quarter. Millennium Management LLC now owns 677,352 shares of the utilities provider's stock valued at $32,614,000 after purchasing an additional 609,323 shares during the period. Dimensional Fund Advisors LP raised its position in NewJersey Resources by 10.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,934,165 shares of the utilities provider's stock valued at $181,446,000 after purchasing an additional 367,844 shares during the period. Qube Research & Technologies Ltd grew its stake in shares of NewJersey Resources by 77.1% in the second quarter. Qube Research & Technologies Ltd now owns 730,300 shares of the utilities provider's stock valued at $32,732,000 after buying an additional 317,932 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of NewJersey Resources in the third quarter valued at $13,351,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NJR. Mizuho upped their price objective on NewJersey Resources from $54.00 to $61.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 21st. Wall Street Zen raised NewJersey Resources from a "sell" rating to a "hold" rating in a research report on Saturday, February 7th. Raymond James Financial reaffirmed an "outperform" rating on shares of NewJersey Resources in a research report on Tuesday, February 3rd. Argus raised NewJersey Resources to a "strong-buy" rating in a research report on Thursday, January 22nd. Finally, Weiss Ratings raised NewJersey Resources from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $54.80.

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.

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