Roberto Bel, senior vice president and chief financial officer of New Jersey Resources Corp. (NYSE: NJR), disposed of 6,105 shares of the company's common stock on March 16, 2026, according to a Form 4 filed with the Securities and Exchange Commission.
The sale was executed in three equal trades of 2,035 shares each, with transaction prices spanning from $54.9675 to $55.43. The transactions together produced total proceeds of $336,376. Reported weighted average sale prices for the three tranches were $55.0993, $55.101, and $55.0953, respectively.
Following these dispositions, Bel's direct holding in New Jersey Resources stands at 19,780 shares.
The share sales took place while the stock was trading near its 52-week high of $55.49; the most recently noted market price in the filing was $54.23. New Jersey Resources is characterized in the filing as a $5.48 billion utility company, carrying a price-to-earnings ratio of 16.83 and a dividend yield of 3.46%.
Separate analysis noted in the filing indicates that InvestingPro's Fair Value calculations mark NJR as overvalued at current market levels. An InvestingPro Tip highlighted in the report also notes the company's record of maintaining dividend payments for 56 consecutive years, and readers are pointed to the Pro Research Report for deeper fundamental analysis.
The insider sales were conducted under a Rule 10b5-1 trading plan that Bel adopted on December 12, 2025.
In corporate results disclosed recently, New Jersey Resources reported first-quarter fiscal 2026 earnings of $1.17 per share, above the consensus expectation of $1.01. Revenue for the quarter came in at $604.85 million versus the $549.2 million analysts had forecast.
Following the quarterly disclosure, Raymond James raised its price target on New Jersey Resources to $55 from $53 and retained an Outperform rating. The firm cited confidence in the company's ability to differentiate itself among gas utilities through its core NJNG utility and its other business operations.
Taken together, the insider sale, the quarterly outperformance and the broker action represent recent developments for New Jersey Resources that market participants may weigh when assessing the stock.