NewJersey Resources (NYSE:NJR) COO Sells $166,890.00 in Stock

Key Points

• COO Patrick Migliaccio sold 3,000 NJR shares at an average price of $55.63, generating $166,890 and reducing his direct ownership by 8.52% to 32,202 shares.
• NewJersey Resources reported quarterly EPS of $0.11, beating estimates of $0.06, while revenue rose 16.8% year over year to $349.18 million. The company reaffirmed FY 2026 EPS guidance of $3.52–$3.62.
• NJR shares recently traded at $54.73, and analysts maintain a consensus “Buy” rating with an average price target of $57.83; institutional investors own approximately 70.98% of the stock.

NewJersey Resources Corporation (NYSE:NJR - Get Free Report) COO Patrick Migliaccio sold 3,000 shares of the stock in a transaction that occurred on 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 sale, the chief operating officer directly owned 32,202 shares of the company's stock, valued at $1,791,397.26. This represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

NewJersey Resources Price Performance

NYSE:NJR traded down $0.87 during trading hours on Monday, hitting $54.73. 118,937 shares of the stock traded hands, compared to its average volume of 601,460. The company has a quick ratio of 0.45, a current ratio of 0.66 and a debt-to-equity ratio of 1.21. NewJersey Resources Corporation has a 1 year low of $43.46 and a 1 year high of $60.86. The company has a market cap of $5.55 billion, a price-to-earnings ratio of 15.14 and a beta of 0.50. The stock has a 50 day moving average price of $56.83 and a 200 day moving average price of $55.46.

NewJersey Resources (NYSE:NJR - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.05. The firm had revenue of $349.18 million during the quarter, compared to analysts' expectations of $342.13 million. NewJersey Resources had a net margin of 16.42% and a return on equity of 14.46%. During the same period in the prior year, the company posted ($0.15) earnings per share. The company's revenue for the quarter was up 16.8% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.520-3.620 EPS. Sell-side analysts forecast that NewJersey Resources Corporation will post 3.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NJR. Argus set a $63.00 price objective on NewJersey Resources in a research note on Wednesday, May 20th. Mizuho lifted their target price on NewJersey Resources from $54.00 to $61.00 and gave the company an "outperform" rating in a research note on Tuesday, April 21st. Wells Fargo & Company downgraded NewJersey Resources from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $63.00 to $61.00 in a research note on Wednesday, August 5th. Finally, Weiss Ratings lowered shares of NewJersey Resources from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $57.83.

Institutional Trading of NewJersey Resources

Hedge funds have recently bought and sold shares of the stock. Measured Wealth Private Client Group LLC purchased a new stake in shares of NewJersey Resources in the third quarter worth about $28,000. Root Financial Partners LLC grew its holdings in NewJersey Resources by 56.5% during the 1st 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 in the last quarter. Torren Management LLC bought a new stake in NewJersey Resources in the 4th quarter worth approximately $35,000. Essential Partners LLC increased its stake in NewJersey Resources by 67.3% in the 2nd quarter. Essential Partners LLC now owns 686 shares of the utilities provider's stock worth $38,000 after acquiring an additional 276 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of NewJersey Resources by 118.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 933 shares of the utilities provider's stock worth $43,000 after acquiring an additional 505 shares in the last quarter. 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.

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