Cambridge Investment Research Advisors Inc. bought a new stake in shares of New Jersey Resources Co. (NYSE:NJR – Get Rating) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,727 shares of the utilities provider’s stock, valued at approximately $433,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. AE Wealth Management LLC increased its position in shares of New Jersey Resources by 1.4% during the fourth quarter. AE Wealth Management LLC now owns 14,895 shares of the utilities provider’s stock worth $739,000 after buying an additional 203 shares during the period. Signaturefd LLC raised its position in shares of New Jersey Resources by 20.3% in the 4th quarter. Signaturefd LLC now owns 1,381 shares of the utilities provider’s stock worth $69,000 after acquiring an additional 233 shares in the last quarter. UBS Group AG raised its position in shares of New Jersey Resources by 0.5% in the 3rd quarter. UBS Group AG now owns 52,050 shares of the utilities provider’s stock worth $2,014,000 after acquiring an additional 242 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of New Jersey Resources by 1.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 25,644 shares of the utilities provider’s stock valued at $992,000 after purchasing an additional 261 shares during the period. Finally, Legacy Advisors LLC boosted its position in shares of New Jersey Resources by 1.8% during the 3rd quarter. Legacy Advisors LLC now owns 19,649 shares of the utilities provider’s stock valued at $768,000 after purchasing an additional 350 shares in the last quarter. Institutional investors own 74.09% of the company’s stock.
Wall Street Analysts Forecast Growth
NJR has been the topic of several recent analyst reports. Guggenheim boosted their price target on New Jersey Resources from $46.00 to $47.00 in a research note on Monday, April 24th. StockNews.com initiated coverage on shares of New Jersey Resources in a research note on Thursday, May 18th. They set a “sell” rating on the stock. Finally, Mizuho lifted their price target on shares of New Jersey Resources from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, February 7th. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $48.50.
Insider Transactions at New Jersey Resources
New Jersey Resources Price Performance
Shares of NYSE:NJR opened at $48.96 on Friday. New Jersey Resources Co. has a twelve month low of $38.07 and a twelve month high of $55.84. The stock’s 50 day moving average is $51.81 and its 200-day moving average is $50.49. The company has a quick ratio of 0.71, a current ratio of 0.87 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 3.00 and a beta of 0.65.
New Jersey Resources (NYSE:NJR – Get Rating) last released its quarterly earnings data on Thursday, May 4th. The utilities provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.04). The business had revenue of $644.00 million for the quarter, compared to analyst estimates of $954.32 million. New Jersey Resources had a return on equity of 14.22% and a net margin of 10.94%. The business’s quarterly revenue was down 29.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.36 EPS. Sell-side analysts forecast that New Jersey Resources Co. will post 2.71 EPS for the current fiscal year.
New Jersey Resources Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Wednesday, June 14th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Tuesday, June 13th. New Jersey Resources’s dividend payout ratio is currently 51.66%.
New Jersey Resources Profile
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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