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Bel Roberto, the Senior Vice President and Chief Financial Officer of New Jersey Resources Corp (NYSE:NJR), recently sold 1,173 shares of the company’s common stock. The transaction, executed on March 31, 2025, was carried out at a price of $50 per share, totaling approximately $58,650. The utility company, currently valued at $4.9 billion, maintains a strong financial profile with a "Good" health score according to InvestingPro analysis. This sale was conducted under a Rule 10b5-1 trading plan, which Roberto had established on December 19, 2024. Following this transaction, Roberto holds 22,649 shares in the company. NJR has demonstrated remarkable dividend consistency, having raised its dividend for 29 consecutive years and maintained payments for 55 years straight. The stock currently offers a 3.7% dividend yield and trades at a P/E ratio of 13.8x. For deeper insights into insider trading patterns and comprehensive financial analysis, check out the detailed Pro Research Report available on InvestingPro.
In other recent news, New Jersey Resources has seen several significant developments. The company reported a fiscal year 2025 guidance for net financial earnings per share (EPS) ranging between $3.05 and $3.20, which exceeds its target growth range. This increase is primarily due to a one-off gain from the sale of a solar asset, recalibrating guidance from a base of $2.83 in FY25. Guggenheim analysts have raised their price target for New Jersey Resources to $54.00, up from $53.00, while maintaining a Neutral rating, noting the company’s financial performance surpassed expectations due to the sale of its residential solar business, Sunlight Advantage.
Jefferies has initiated coverage on New Jersey Resources with a Hold rating and a price target of $51.00, citing a solid long-term trajectory anchored by core Local Distribution Company earnings. The company’s Clean Energy Ventures segment continues to perform robustly, with a project pipeline exceeding 1 gigawatt, and management aims to use proceeds from the solar business sale to strengthen the balance sheet. At its recent Annual Meeting, New Jersey Resources re-elected three directors to the board for another three-year term and ratified Deloitte & Touche LLP as its independent registered public accounting firm for the fiscal year ending September 30, 2025. Additionally, a non-binding advisory resolution approving the compensation of the company’s named executive officers was passed with a significant majority. These developments reflect New Jersey Resources’ ongoing strategic decisions and financial performance in the energy sector.
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