New Jersey Resources Corp (NYSE:NJR), a company engaged in the provision of regulated gas distribution, and other energy services to residential and commercial customers, has reported an insider sale according to a recent SEC filing. Patrick Migliaccio, the Senior Vice President and Chief Operating Officer of NJNG, a subsidiary of New Jersey Resources Corp, sold 3,000 shares of the company on March 12, 2024.
Patrick Migliaccio’s transaction involved the disposal of shares at a price of $42.71 each, resulting in a total sale amount of $128,130. This transaction has altered the insider's holdings in the company, which, over the past year, has seen a total of 6,579 shares sold by the insider, with no recorded purchases in the same period.
The insider transaction history for New Jersey Resources Corp (NYSE:NJR) indicates a pattern of insider sales, with 3 insider sells and no insider buys over the past year.
Regarding the company's valuation, New Jersey Resources Corp's shares were trading at $42.71 on the day of the insider's sale, giving the company a market capitalization of $4.162 billion. The price-earnings ratio stands at 17.35, which is above the industry median of 14.42 but below the company's historical median price-earnings ratio.
The stock's price-to-GF-Value ratio is currently at 1.3, with a GF Value of $32.86, suggesting that New Jersey Resources Corp is modestly overvalued based on its GF Value.
The GF Value is a proprietary intrinsic value estimate from GuruFocus, which takes into account historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates provided by Morningstar analysts.
The recent insider sale by Patrick Migliaccio may provide investors with insight into the insider's perspective on the stock's current valuation and future prospects. However, it is important for investors to consider a wide range of factors, including market conditions, company performance, and individual financial objectives, when making investment decisions.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
