NewJersey Resources Corporation (NJR) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC reduced its position in shares of NewJersey Resources Corporation (NYSE:NJR) by 10.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 415,389 shares of the utilities provider’s stock after selling 46,456 shares during the period. ProShare Advisors LLC owned approximately 0.48% of NewJersey Resources Corporation worth $16,491,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Legal & General Group Plc raised its position in NewJersey Resources Corporation by 12.6% during the first quarter. Legal & General Group Plc now owns 92,824 shares of the utilities provider’s stock valued at $3,676,000 after purchasing an additional 10,371 shares in the last quarter. TD Asset Management Inc. raised its position in NewJersey Resources Corporation by 0.5% during the second quarter. TD Asset Management Inc. now owns 19,024 shares of the utilities provider’s stock valued at $755,000 after purchasing an additional 100 shares in the last quarter. SG Americas Securities LLC raised its position in NewJersey Resources Corporation by 18.1% during the first quarter. SG Americas Securities LLC now owns 25,556 shares of the utilities provider’s stock valued at $1,012,000 after purchasing an additional 3,916 shares in the last quarter. Comerica Bank raised its position in NewJersey Resources Corporation by 24.4% during the first quarter. Comerica Bank now owns 79,037 shares of the utilities provider’s stock valued at $3,233,000 after purchasing an additional 15,505 shares in the last quarter. Finally, Stifel Financial Corp acquired a new position in NewJersey Resources Corporation during the first quarter valued at approximately $380,000. Institutional investors and hedge funds own 64.16% of the company’s stock.

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NewJersey Resources Corporation (NYSE NJR) traded down 0.23% during mid-day trading on Friday, hitting $43.15. 726,356 shares of the company’s stock were exchanged. The stock has a market cap of $3.73 billion, a PE ratio of 19.34 and a beta of 0.47. NewJersey Resources Corporation has a 12 month low of $30.46 and a 12 month high of $44.30. The stock’s 50 day moving average price is $43.26 and its 200-day moving average price is $41.16.

NewJersey Resources Corporation (NYSE:NJR) last issued its earnings results on Wednesday, August 2nd. The utilities provider reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.19. The company had revenue of $457.52 million for the quarter, compared to analysts’ expectations of $410.24 million. NewJersey Resources Corporation had a net margin of 8.81% and a return on equity of 12.77%. The firm’s revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.13 EPS. Equities analysts expect that NewJersey Resources Corporation will post $1.74 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 22nd will be given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Thursday, September 21st. NewJersey Resources Corporation’s payout ratio is presently 45.74%.

Several brokerages have commented on NJR. Argus boosted their price objective on shares of NewJersey Resources Corporation from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Monday, August 28th. BidaskClub upgraded shares of NewJersey Resources Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. Bank of America Corporation boosted their price objective on shares of NewJersey Resources Corporation from $35.00 to $38.00 and gave the company an “underperform” rating in a research report on Wednesday, August 23rd. Finally, Zacks Investment Research upgraded shares of NewJersey Resources Corporation from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. NewJersey Resources Corporation has an average rating of “Buy” and a consensus target price of $40.80.

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.

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

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