On August 21, 2024, Patrick Migliaccio, Senior Vice President and Chief Operating Officer of NJNG, a subsidiary of New Jersey Resources Corp (NYSE: NJR), sold 2,500 shares of the company. The transaction was reported in a recent SEC filing. Following this sale, the insider now owns 36,582,244 shares of New Jersey Resources Corp.
New Jersey Resources Corp, a Fortune 1000 company, is an energy services holding company that provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and residential services. NJR consists of five primary subsidiaries.
Over the past year, Patrick Migliaccio has sold a total of 9,079 shares and purchased no shares of the company. During the same period, New Jersey Resources Corp. had six insider sales and no insider purchases.
New Jersey Resources Corp shares were trading at $45.88 on the day of the sale, giving the company a market capitalization of approximately $4.527 billion. The company’s price-to-earnings ratio is 19.10, which is above both the industry average and the company’s historical median.
According to GF Value, the intrinsic value of New Jersey Resources Corp is estimated at $33.98 per share, making the stock significantly overvalued with a price-GF Value ratio of 1.35.
The GF score is calculated based on historical trading multiples, a GuruFocus adjustment factor based on past earnings and growth, and Morningstar analyst estimates of future business performance.
This insider sale comes at a time when the stock is considered significantly overvalued according to GF Value. This suggests that potential investors should keep an eye on the company’s valuation metrics and insider transactions to gain better insights into the stock’s intrinsic value and market perception.
This article created by GuruFocus is intended to provide general insights and does not constitute tailored financial advice. Our commentary is based on historical data and analyst forecasts, uses an unbiased methodology and is not intended to serve as specific investment advice. It does not contain a recommendation to buy or sell any stock and does not take into account any individual investment objectives or financial circumstances. Our goal is to provide long-term, fundamental, data-driven analysis. Note that our analysis may not include the most recent, price-sensitive company announcements or qualitative information. GuruFocus does not hold a position in any stocks mentioned here.
This article first appeared on GuruFocus.
