NewJersey Resources Corporation (NJR) Shares Bought by First Trust Advisors LP

First Trust Advisors LP raised its position in NewJersey Resources Corporation (NYSE:NJR) by 2.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 503,854 shares of the utilities provider’s stock after acquiring an additional 13,264 shares during the quarter. First Trust Advisors LP owned approximately 0.58% of NewJersey Resources Corporation worth $21,237,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of NJR. OppenheimerFunds Inc. increased its position in NewJersey Resources Corporation by 32.4% in the first quarter. OppenheimerFunds Inc. now owns 14,279 shares of the utilities provider’s stock worth $566,000 after buying an additional 3,495 shares in the last quarter. Teachers Advisors LLC increased its position in NewJersey Resources Corporation by 3.1% in the first quarter. Teachers Advisors LLC now owns 159,362 shares of the utilities provider’s stock worth $6,311,000 after buying an additional 4,762 shares in the last quarter. Geode Capital Management LLC increased its position in NewJersey Resources Corporation by 6.5% in the first quarter. Geode Capital Management LLC now owns 663,511 shares of the utilities provider’s stock worth $26,275,000 after buying an additional 40,476 shares in the last quarter. Renaissance Technologies LLC increased its position in NewJersey Resources Corporation by 40.0% in the first quarter. Renaissance Technologies LLC now owns 184,100 shares of the utilities provider’s stock worth $7,290,000 after buying an additional 52,600 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in NewJersey Resources Corporation by 6.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 503,185 shares of the utilities provider’s stock worth $19,927,000 after buying an additional 30,421 shares in the last quarter. 64.19% of the stock is currently owned by institutional investors.

A number of analysts have commented on NJR shares. Argus upped their price target on NewJersey Resources Corporation from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Monday, August 28th. Bank of America Corporation upped their price target on NewJersey Resources Corporation from $35.00 to $38.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 23rd. Zacks Investment Research cut NewJersey Resources Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Finally, BidaskClub upgraded NewJersey Resources Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $42.00.

Shares of NewJersey Resources Corporation (NYSE:NJR) opened at $44.30 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.55 and a current ratio of 0.82. NewJersey Resources Corporation has a 1 year low of $32.20 and a 1 year high of $44.85. The stock has a market capitalization of $3,790.39, a PE ratio of 23.80, a P/E/G ratio of 3.91 and a beta of 0.45.

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About NewJersey Resources Corporation

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.

Institutional Ownership by Quarter for NewJersey Resources Corporation (NYSE:NJR)

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