Insider Selling: New Jersey Resources Corp (NJR) Director Sells $44,630.00 in Stock

New Jersey Resources Corp (NYSE:NJR) Director M William Howard, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 11th. The shares were sold at an average price of $44.63, for a total transaction of $44,630.00. Following the completion of the transaction, the director now owns 18,713 shares in the company, valued at approximately $835,161.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

M William Howard, Jr. also recently made the following trade(s):

  • On Tuesday, November 27th, M William Howard, Jr. sold 1,000 shares of New Jersey Resources stock. The shares were sold at an average price of $47.91, for a total transaction of $47,910.00.

NJR stock opened at $44.86 on Monday. New Jersey Resources Corp has a twelve month low of $35.55 and a twelve month high of $51.83. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.03 and a quick ratio of 0.76. The company has a market cap of $3.93 billion, a PE ratio of 16.37, a P/E/G ratio of 3.13 and a beta of 0.31.

New Jersey Resources (NYSE:NJR) last released its quarterly earnings results on Tuesday, November 20th. The utilities provider reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.11. New Jersey Resources had a net margin of 8.01% and a return on equity of 16.92%. The business had revenue of $647.30 million during the quarter, compared to the consensus estimate of $549.59 million. During the same quarter last year, the company earned ($0.14) earnings per share. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. On average, analysts anticipate that New Jersey Resources Corp will post 2.03 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th were given a dividend of $0.2925 per share. The ex-dividend date was Thursday, December 13th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 2.61%. This is an increase from New Jersey Resources’s previous quarterly dividend of $0.27. New Jersey Resources’s dividend payout ratio (DPR) is presently 42.70%.

Institutional investors have recently added to or reduced their stakes in the business. Sheets Smith Wealth Management acquired a new position in shares of New Jersey Resources during the fourth quarter valued at $288,000. Confluence Investment Management LLC raised its position in New Jersey Resources by 2.4% in the fourth quarter. Confluence Investment Management LLC now owns 432,699 shares of the utilities provider’s stock worth $19,761,000 after acquiring an additional 10,271 shares in the last quarter. Legal & General Group Plc raised its position in New Jersey Resources by 0.4% in the third quarter. Legal & General Group Plc now owns 106,927 shares of the utilities provider’s stock worth $4,930,000 after acquiring an additional 448 shares in the last quarter. Vanguard Group Inc raised its position in New Jersey Resources by 1.1% in the third quarter. Vanguard Group Inc now owns 9,135,967 shares of the utilities provider’s stock worth $421,169,000 after acquiring an additional 96,027 shares in the last quarter. Finally, Great Lakes Advisors LLC bought a new stake in New Jersey Resources in the third quarter worth about $301,000. 66.05% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently commented on NJR. Zacks Investment Research lowered shares of New Jersey Resources from a “buy” rating to a “hold” rating in a report on Tuesday, November 27th. Wells Fargo & Co raised their price target on shares of New Jersey Resources from $45.00 to $47.00 and gave the stock a “market perform” rating in a research report on Monday, September 17th. ValuEngine raised shares of New Jersey Resources from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. Finally, Guggenheim downgraded shares of New Jersey Resources from a “neutral” rating to a “sell” rating in a research report on Monday, January 7th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $48.25.

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New Jersey Resources Company Profile

New Jersey Resources Corporation, an energy services holding company, provides regulated gas distribution, and retail and wholesale energy services. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Midstream segments. The Natural Gas Distribution segment offers regulated retail natural gas services to approximately 538,700 residential and commercial customers in central and northern New Jersey; provides storage management services; and participates in the off-system sales and capacity release markets.

See Also: Debt-To-Equity Ratio

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