New Jersey Resources COO Sells 3,000 Shares for $167,000
Key Points
The disposition of 3,000 shares generated roughly $167,000 in proceeds.
All transacted shares were held directly; the insider reported no indirect ownership in this filing.
The liquidity event was executed at a price level representing a 17% one-year return as of the transaction date.
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Patrick J. Migliaccio, Senior VP and COO, and NJNG at New Jersey Resources (NYSE:NJR), sold 3,000 shares of common stock on Aug. 14, 2026, according to an SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Transaction value | $166,890 |
| Shares sold | 3,000 |
| Post-transaction shares (directly held) | 32,202 |
| Post-transaction value | $1.7 million |
Transaction value based on SEC Form 4 weighted average sale price ($55.63); post-transaction value based on Aug. 14, 2026, market close ($55.60).
Key questions
- What is the scale of this disposition relative to the insider's total equity?
Patrick J. Migliaccio liquidated 3,000 shares in this transaction. Following the sale, his remaining direct position consists of 32,202 shares of common stock. - Does the insider maintain any indirect interest in the firm?
The current disclosure shows that the insider's holdings are concentrated in direct ownership. While a footnote mentions minor market-based adjustments to a 401(k) plan balance, no shares were reported as held through external trusts, LLCs, or other indirect entities. - How does the current valuation compare to the transaction price?
The weighted average execution price of $55.63 per share was closely aligned with the market close of $55.60 on Aug. 14, 2026. This activity occurred with the stock priced at levels reflecting a 17% total return over the preceding 12-month period.
Company Overview
| Metric | Value |
|---|---|
| Share Price (as of market close 2026-08-14) | $55.60 |
| Market Capitalization | $5.6 billion |
| Revenue (TTM) | $2.2 billion |
| Net Income (TTM) | $366.2 million |
Company Snapshot
- New Jersey Resources operates as a diversified energy holding company providing regulated natural gas distribution services to approximately 564,000 residential and commercial customers, complemented by retail and wholesale energy solutions across multiple business segments.
- The company generates revenue through its Clean Energy Ventures, Storage and Transportation, and its regulated gas business.
- NJR primarily serves residential and commercial customers in New Jersey and surrounding regions through its regulated natural gas utility platform, while also offering energy solutions to wholesale and retail market participants seeking diversified energy products and services.
New Jersey Resources is a substantial energy infrastructure operator with $2.2 billion in TTM revenue, positioning it as a significant player in the regulated utility sector. The company's diversified business model across distribution, clean energy ventures, energy services, and storage infrastructure provides multiple revenue streams and operational leverage. NJR's competitive positioning is reinforced by its regulated utility foundation, which offers stable cash flows, combined with strategic investments in clean energy and energy services that align with evolving market dynamics and regulatory priorities.
What this transaction means for investors
The stock price for New Jersey Resources is underperforming the S&P 500 thus far in 2026. As of this writing, the New Jersey Resources stock price has climbed 13.5%, while the S&P 500 is up 18.8%. That said, the stock is still trading near its 52-week high of $60.86 per share. With Migliaccio selling 3,000 shares, it appears likely this is just an example of taking some profits off the table. That's because, given the context, he still has over 32,000 shares held directly. With that stake still in hand, this sale shouldn't start ringing any alarm bells for shareholders.
As a regulated utility, one of the biggest pros of owning the stock is its reliable revenue. One of the cons is that the potential to significantly increase sales is often limited, so regulated utility stocks aren't known for their stock price appreciation. That seems to also be the case with New Jersey Resources. Of the eight analysts who track New Jersey Resources, as tracked by CNN, the median one-year price target is $61, implying a 13.5% return from the current price as of this writing. The lowest price target of those analysts is $56, while the highest is $64.
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Jack Delaney has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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