Legal & General Group Plc boosted its holdings in shares of New Jersey Resources Corp (NYSE:NJR) by 0.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,927 shares of the utilities provider’s stock after purchasing an additional 448 shares during the period. Legal & General Group Plc owned 0.12% of New Jersey Resources worth $4,930,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in NJR. Dimensional Fund Advisors LP boosted its position in New Jersey Resources by 12.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,787,711 shares of the utilities provider’s stock valued at $80,001,000 after buying an additional 200,006 shares during the last quarter. FMR LLC boosted its position in New Jersey Resources by 17.4% in the 2nd quarter. FMR LLC now owns 1,102,865 shares of the utilities provider’s stock valued at $49,353,000 after buying an additional 163,226 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in New Jersey Resources by 4.2% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 33,785 shares of the utilities provider’s stock valued at $1,512,000 after buying an additional 1,353 shares during the last quarter. OppenheimerFunds Inc. boosted its position in New Jersey Resources by 17.2% in the 2nd quarter. OppenheimerFunds Inc. now owns 21,084 shares of the utilities provider’s stock valued at $944,000 after buying an additional 3,098 shares during the last quarter. Finally, Raymond James & Associates boosted its position in New Jersey Resources by 9.2% in the 2nd quarter. Raymond James & Associates now owns 75,310 shares of the utilities provider’s stock valued at $3,370,000 after buying an additional 6,372 shares during the last quarter. Hedge funds and other institutional investors own 66.05% of the company’s stock.
In other news, Director M William Howard, Jr. sold 1,000 shares of the firm’s stock in a transaction on Friday, January 11th. The stock was sold at an average price of $44.63, for a total value of $44,630.00. Following the transaction, the director now directly owns 18,713 shares in the company, valued at approximately $835,161.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 3,000 shares of company stock worth $138,080 over the last 90 days. 1.30% of the stock is owned by corporate insiders.
Shares of NJR opened at $44.86 on Monday. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 3.13 and a beta of 0.31. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.76 and a current ratio of 1.03. New Jersey Resources Corp has a 52 week low of $35.55 and a 52 week high of $51.83.
New Jersey Resources (NYSE:NJR) last posted its quarterly earnings results on Tuesday, November 20th. The utilities provider reported ($0.33) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.44) by $0.11. New Jersey Resources had a return on equity of 16.92% and a net margin of 8.01%. The business had revenue of $647.30 million for the quarter, compared to analyst estimates of $549.59 million. During the same period last year, the company earned ($0.14) EPS. The firm’s revenue was up 20.7% on a year-over-year basis. Analysts forecast that New Jersey Resources Corp will post 2.03 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th were given a $0.2925 dividend. This is a positive change from New Jersey Resources’s previous quarterly dividend of $0.27. This represents a $1.17 annualized dividend and a dividend yield of 2.61%. The ex-dividend date was Thursday, December 13th. New Jersey Resources’s dividend payout ratio (DPR) is currently 42.70%.
A number of research analysts have commented on the company. Zacks Investment Research lowered New Jersey Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, November 27th. Wells Fargo & Co increased their price objective on New Jersey Resources from $45.00 to $47.00 and gave the company a “market perform” rating in a research report on Monday, September 17th. Guggenheim lowered New Jersey Resources from a “neutral” rating to a “sell” rating in a research report on Monday, January 7th. They noted that the move was a valuation call. Finally, ValuEngine upgraded New Jersey Resources from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $48.25.
New Jersey Resources Profile
New Jersey Resources Corporation, an energy services holding company, provides regulated gas distribution, and retail and wholesale energy services. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Midstream segments. The Natural Gas Distribution segment offers regulated retail natural gas services to approximately 538,700 residential and commercial customers in central and northern New Jersey; provides storage management services; and participates in the off-system sales and capacity release markets.
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