Profund Advisors LLC trimmed its position in New Jersey Resources Co. (NYSE:NJR – Get Rating) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,545 shares of the utilities provider’s stock after selling 497 shares during the quarter. Profund Advisors LLC’s holdings in New Jersey Resources were worth $474,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of NJR. Wellington Management Group LLP raised its stake in shares of New Jersey Resources by 22.6% in the first quarter. Wellington Management Group LLP now owns 3,203,151 shares of the utilities provider’s stock valued at $146,897,000 after purchasing an additional 589,747 shares in the last quarter. State Street Corp raised its stake in shares of New Jersey Resources by 4.5% in the third quarter. State Street Corp now owns 10,661,984 shares of the utilities provider’s stock valued at $416,694,000 after purchasing an additional 456,306 shares in the last quarter. Invesco Ltd. raised its stake in shares of New Jersey Resources by 151.1% in the first quarter. Invesco Ltd. now owns 602,011 shares of the utilities provider’s stock valued at $27,609,000 after purchasing an additional 362,282 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of New Jersey Resources by 452.0% in the first quarter. Renaissance Technologies LLC now owns 217,500 shares of the utilities provider’s stock valued at $9,975,000 after purchasing an additional 178,100 shares in the last quarter. Finally, Ergoteles LLC bought a new stake in New Jersey Resources in the first quarter valued at $6,799,000. 74.09% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on NJR. JPMorgan Chase & Co. upped their price target on New Jersey Resources from $40.00 to $46.00 and gave the company an “underweight” rating in a research report on Monday, January 9th. Mizuho upped their price target on New Jersey Resources from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, February 7th. Wells Fargo & Company lowered their price target on New Jersey Resources from $51.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 10th. Finally, StockNews.com began coverage on New Jersey Resources in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $46.75.
Insider Transactions at New Jersey Resources
New Jersey Resources Price Performance
Shares of NJR stock opened at $53.32 on Friday. The stock’s fifty day moving average is $52.22 and its 200-day moving average is $49.07. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.69 and a current ratio of 0.95. The stock has a market capitalization of $5.17 billion, a PE ratio of 18.45, a PEG ratio of 3.31 and a beta of 0.65. New Jersey Resources Co. has a 52 week low of $38.07 and a 52 week high of $55.84.
New Jersey Resources (NYSE:NJR – Get Rating) last announced its earnings results on Thursday, February 2nd. The utilities provider reported $1.14 EPS for the quarter, topping the consensus estimate of $0.79 by $0.35. The company had revenue of $723.60 million for the quarter, compared to analysts’ expectations of $696.78 million. New Jersey Resources had a return on equity of 15.62% and a net margin of 9.46%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.69 earnings per share. Equities research analysts expect that New Jersey Resources Co. will post 2.7 EPS for the current fiscal year.
New Jersey Resources Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Wednesday, June 14th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Tuesday, June 13th. New Jersey Resources’s payout ratio is presently 53.98%.
About New Jersey Resources
New Jersey Resources Corp. is a holding company. The firm provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. It operates through the following segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, Storage and Transportation, and Home Services and Other.
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