Senior VP and COO of NJNG, Patrick Migliaccio, Sells 3,579 Shares
New Jersey Resources Corp (NYSE:NJR), a company engaged in the distribution of natural gas through a regulated utility, providing other retail and wholesale energy services, recently witnessed a transaction from a key insider. The insider, Senior VP and COO Patrick Migliaccio, sold 3,579 shares of the company on December 21, 2023, according to a SEC Filing.
Over the past year, the insider has sold a total of 5,619 shares and has not made any purchases of the company's stock. This latest transaction continues the trend of insider selling activity at New Jersey Resources Corp, with a total of 3 insider sells and no insider buys occurring over the same period.
On the day of the sale, shares of New Jersey Resources Corp were trading at $44.29, giving the company a market capitalization of $4.406 billion. The price-earnings ratio stood at 16.57, which is above the industry median of 14.355 but below the company's historical median price-earnings ratio.
The stock's price-to-GF-Value ratio was 1.24, with a share price of $44.29 and a GuruFocus Value of $35.78, indicating that New Jersey Resources Corp is considered Modestly Overvalued based on its GF Value. The GF Value is a proprietary intrinsic value estimate from GuruFocus, factoring in historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates from Morningstar analysts.
The insider trend image above reflects the recent insider selling activity at New Jersey Resources Corp.
The GF Value image provides a visual representation of the stock's current valuation in relation to its GuruFocus Value.
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.
This article first appeared on GuruFocus.
