Personal Capital Advisors Corp increased its position in NewJersey Resources Corporation (NYSE:NJR) by 28.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,892 shares of the utilities provider’s stock after purchasing an additional 6,704 shares during the period. Personal Capital Advisors Corp’s holdings in NewJersey Resources were worth $1,202,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of NJR. JPMorgan Chase & Co. grew its stake in NewJersey Resources by 2.8% in the second quarter. JPMorgan Chase & Co. now owns 370,444 shares of the utilities provider’s stock worth $14,706,000 after purchasing an additional 9,965 shares in the last quarter. Alliancebernstein L.P. grew its stake in NewJersey Resources by 44.5% in the second quarter. Alliancebernstein L.P. now owns 177,518 shares of the utilities provider’s stock worth $7,047,000 after purchasing an additional 54,640 shares in the last quarter. Riverhead Capital Management LLC grew its stake in NewJersey Resources by 93.0% in the second quarter. Riverhead Capital Management LLC now owns 4,826 shares of the utilities provider’s stock worth $192,000 after purchasing an additional 2,326 shares in the last quarter. Teachers Advisors LLC grew its stake in NewJersey Resources by 7.6% in the second quarter. Teachers Advisors LLC now owns 171,539 shares of the utilities provider’s stock worth $6,810,000 after purchasing an additional 12,177 shares in the last quarter. Finally, Nationwide Fund Advisors grew its stake in NewJersey Resources by 5.4% in the second quarter. Nationwide Fund Advisors now owns 260,083 shares of the utilities provider’s stock worth $10,325,000 after purchasing an additional 13,274 shares in the last quarter. Institutional investors and hedge funds own 63.51% of the company’s stock.
A number of equities analysts recently commented on NJR shares. ValuEngine downgraded NewJersey Resources from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research downgraded NewJersey Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Guggenheim restated a “buy” rating and issued a $44.00 target price on shares of NewJersey Resources in a research note on Wednesday, January 3rd. TheStreet downgraded NewJersey Resources from a “b” rating to a “c+” rating in a research note on Wednesday, January 3rd. Finally, Janney Montgomery Scott upgraded NewJersey Resources from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 22nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. NewJersey Resources presently has a consensus rating of “Hold” and a consensus target price of $44.00.
NewJersey Resources Corporation (NJR) opened at $38.95 on Monday. The company has a quick ratio of 0.46, a current ratio of 0.72 and a debt-to-equity ratio of 0.81. NewJersey Resources Corporation has a 52 week low of $36.25 and a 52 week high of $45.45. The company has a market capitalization of $3,385.20, a P/E ratio of 25.63, a price-to-earnings-growth ratio of 3.59 and a beta of 0.43.
NewJersey Resources (NYSE:NJR) last issued its earnings results on Tuesday, November 21st. The utilities provider reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.01). NewJersey Resources had a net margin of 5.82% and a return on equity of 11.97%. The company had revenue of $536.50 million during the quarter, compared to analyst estimates of $480.90 million. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. The business’s revenue was up 14.3% on a year-over-year basis. equities research analysts predict that NewJersey Resources Corporation will post 1.81 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th were paid a $0.2725 dividend. This is an increase from NewJersey Resources’s previous quarterly dividend of $0.26. This represents a $1.09 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend was Thursday, December 14th. NewJersey Resources’s payout ratio is presently 71.71%.
In other NewJersey Resources news, Director Lawrence R. Codey sold 6,000 shares of NewJersey Resources stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $43.13, for a total value of $258,780.00. Following the completion of the transaction, the director now directly owns 13,266 shares in the company, valued at $572,162.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Amanda Mullan sold 920 shares of NewJersey Resources stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $44.64, for a total value of $41,068.80. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
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NewJersey Resources Company Profile
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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