GuruFocus - 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 home services. NJR is comprised of five primary subsidiaries.
Over the past year, Patrick Migliaccio has sold a total of 9,079 shares and has not made any purchases of the company's stock. In the same period, there have been six insider sells and no insider buys at New Jersey Resources Corp.
Shares of New Jersey Resources Corp were trading at $45.88 on the day of the sale, giving the company a market cap of approximately $4.527 billion. The price-earnings ratio of the company stands at 19.10, which is above both the industry median and the company's historical median.
According to the 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-to-GF-Value ratio of 1.35.
The GF Value is calculated based on historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
This insider sale comes at a time when the stock is perceived as significantly overvalued according to the GF Value, suggesting that potential investors should keep an eye on the company's valuation metrics and insider transactions for further insights into the stock's intrinsic value and market perception.
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.
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