Private Advisor Group LLC trimmed its holdings in shares of NewJersey Resources Corporation (NYSE:NJR) by 21.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,850 shares of the utilities provider’s stock after selling 4,042 shares during the quarter. Private Advisor Group LLC’s holdings in NewJersey Resources were worth $636,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. BNP Paribas Arbitrage SA increased its position in NewJersey Resources by 92.8% during the second quarter. BNP Paribas Arbitrage SA now owns 46,956 shares of the utilities provider’s stock worth $1,864,000 after buying an additional 22,600 shares during the last quarter. TD Asset Management Inc. increased its position in NewJersey Resources by 0.5% during the second quarter. TD Asset Management Inc. now owns 19,024 shares of the utilities provider’s stock worth $755,000 after buying an additional 100 shares during the last quarter. JPMorgan Chase & Co. increased its position in NewJersey Resources by 2.8% during the second quarter. JPMorgan Chase & Co. now owns 370,444 shares of the utilities provider’s stock worth $14,706,000 after buying an additional 9,965 shares during the last quarter. Vanguard Group Inc. increased its position in NewJersey Resources by 1.2% during the second quarter. Vanguard Group Inc. now owns 8,361,117 shares of the utilities provider’s stock worth $331,937,000 after buying an additional 99,093 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in NewJersey Resources by 92.2% during the second quarter. SG Americas Securities LLC now owns 49,121 shares of the utilities provider’s stock worth $1,950,000 after buying an additional 23,565 shares during the last quarter. 63.60% of the stock is currently owned by hedge funds and other institutional investors.
NewJersey Resources Corporation (NYSE:NJR) traded up $0.05 during mid-day trading on Monday, reaching $43.60. 254,200 shares of the company’s stock were exchanged, compared to its average volume of 425,741. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.72 and a quick ratio of 0.46. NewJersey Resources Corporation has a one year low of $33.70 and a one year high of $45.45. The company has a market capitalization of $3,787.38, a PE ratio of 25.35, a price-to-earnings-growth ratio of 3.98 and a beta of 0.43.
NewJersey Resources (NYSE:NJR) last released its quarterly earnings results on Tuesday, November 21st. The utilities provider reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.01). NewJersey Resources had a net margin of 5.82% and a return on equity of 11.97%. The firm had revenue of $536.50 million for the quarter, compared to the consensus estimate of $480.90 million. During the same quarter last year, the company earned ($0.03) earnings per share. The firm’s revenue was up 14.3% on a year-over-year basis. equities analysts forecast that NewJersey Resources Corporation will post 1.83 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be issued a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a yield of 2.50%. This is a boost from NewJersey Resources’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, December 14th. NewJersey Resources’s dividend payout ratio is 71.71%.
In other NewJersey Resources news, VP Amanda Mullan sold 920 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $44.64, for a total transaction of $41,068.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lawrence R. Codey sold 6,000 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $43.13, for a total transaction of $258,780.00. Following the completion of the sale, the director now owns 13,266 shares of the company’s stock, valued at approximately $572,162.58. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.
Several equities analysts have commented on NJR shares. Argus increased their target price on shares of NewJersey Resources from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Monday, August 28th. Bank of America increased their target price on shares of NewJersey Resources from $35.00 to $38.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 23rd. Zacks Investment Research downgraded shares of NewJersey Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. BidaskClub raised shares of NewJersey Resources from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. Finally, Janney Montgomery Scott upgraded shares of NewJersey Resources from a “neutral” rating to a “buy” rating in a report on Wednesday, November 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. NewJersey Resources has a consensus rating of “Buy” and an average price target of $42.00.
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NewJersey Resources Company Profile
New Jersey Resources Corporation is an energy services holding company. The Company’s business is the distribution of natural gas through a regulated utility, which provides other retail and wholesale energy services to customers and investing in clean energy projects and midstream assets. It operates in four business segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services and Midstream.
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