Goldman Sachs Group Inc. decreased its holdings in shares of New Jersey Resources Corp (NYSE:NJR) by 8.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,272,972 shares of the utilities provider’s stock after selling 223,418 shares during the quarter. Goldman Sachs Group Inc. owned about 2.59% of New Jersey Resources worth $91,373,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of NJR. Public Employees Retirement System of Ohio lifted its stake in New Jersey Resources by 5.1% in the second quarter. Public Employees Retirement System of Ohio now owns 5,823 shares of the utilities provider’s stock valued at $231,000 after buying an additional 284 shares in the last quarter. Pacer Advisors Inc. raised its position in New Jersey Resources by 11.6% during the third quarter. Pacer Advisors Inc. now owns 12,287 shares of the utilities provider’s stock worth $518,000 after acquiring an additional 1,275 shares in the last quarter. Tiedemann Wealth Management LLC raised its position in New Jersey Resources by 5.5% during the third quarter. Tiedemann Wealth Management LLC now owns 29,418 shares of the utilities provider’s stock worth $1,237,000 after acquiring an additional 1,529 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of New Jersey Resources by 54.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,731 shares of the utilities provider’s stock valued at $190,000 after purchasing an additional 1,674 shares during the last quarter. Finally, AMP Capital Investors Ltd increased its holdings in shares of New Jersey Resources by 4.2% in the fourth quarter. AMP Capital Investors Ltd now owns 42,592 shares of the utilities provider’s stock valued at $1,712,000 after purchasing an additional 1,700 shares during the last quarter. Hedge funds and other institutional investors own 64.13% of the company’s stock.
In related news, VP Patrick J. Migliaccio sold 2,618 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $37.90, for a total value of $99,222.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.50% of the company’s stock.
NYSE NJR opened at $40.60 on Friday. New Jersey Resources Corp has a 12-month low of $35.55 and a 12-month high of $45.45. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.83 and a quick ratio of 0.62. The firm has a market capitalization of $3,525.69, a P/E ratio of 23.47, a price-to-earnings-growth ratio of 2.58 and a beta of 0.31.
New Jersey Resources (NYSE:NJR) last issued its quarterly earnings data on Thursday, February 8th. The utilities provider reported $1.56 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.97. The business had revenue of $705.31 million for the quarter, compared to analysts’ expectations of $564.47 million. New Jersey Resources had a return on equity of 18.96% and a net margin of 9.08%. The business’s revenue was up 30.4% on a year-over-year basis. During the same period last year, the business earned $0.47 EPS. sell-side analysts expect that New Jersey Resources Corp will post 2.6 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Thursday, March 15th were paid a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Wednesday, March 14th. New Jersey Resources’s dividend payout ratio is currently 63.01%.
Several equities analysts recently commented on NJR shares. Zacks Investment Research downgraded shares of New Jersey Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Guggenheim reiterated a “buy” rating and set a $44.00 price objective on shares of New Jersey Resources in a research note on Wednesday, January 3rd. TheStreet raised shares of New Jersey Resources from a “c+” rating to a “b+” rating in a report on Monday, March 12th. Bank of America reissued a “neutral” rating on shares of New Jersey Resources in a report on Tuesday, February 27th. Finally, ValuEngine upgraded shares of New Jersey Resources from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $43.25.
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About New Jersey Resources
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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