QS Investors LLC cut its stake in New Jersey Resources Corp (NYSE:NJR) by 95.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,905 shares of the utilities provider’s stock after selling 86,571 shares during the period. QS Investors LLC’s holdings in New Jersey Resources were worth $179,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of NJR. Doyle Wealth Management bought a new position in shares of New Jersey Resources during the fourth quarter worth about $145,000. Tower Research Capital LLC TRC grew its position in New Jersey Resources by 286.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,780 shares of the utilities provider’s stock valued at $174,000 after buying an additional 2,801 shares in the last quarter. Bruderman Asset Management LLC grew its position in New Jersey Resources by 55.5% in the 4th quarter. Bruderman Asset Management LLC now owns 4,861 shares of the utilities provider’s stock valued at $222,000 after buying an additional 1,735 shares in the last quarter. Jefferies Group LLC bought a new position in New Jersey Resources in the 3rd quarter valued at about $225,000. Finally, GSA Capital Partners LLP bought a new position in shares of New Jersey Resources during the 3rd quarter valued at about $237,000. 67.15% of the stock is currently owned by hedge funds and other institutional investors.
In other New Jersey Resources news, Director M William Howard, Jr. sold 1,000 shares of the stock in a transaction that occurred on Friday, January 11th. The stock was sold at an average price of $44.63, for a total transaction of $44,630.00. Following the transaction, the director now owns 18,713 shares in the company, valued at $835,161.19. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Patrick J. Migliaccio sold 2,068 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $49.96, for a total value of $103,317.28. The disclosure for this sale can be found here. Insiders sold 27,068 shares of company stock valued at $1,327,777 over the last three months. 1.30% of the stock is owned by insiders.
NJR stock opened at $49.71 on Monday. The company has a quick ratio of 0.79, a current ratio of 1.05 and a debt-to-equity ratio of 0.79. New Jersey Resources Corp has a one year low of $38.05 and a one year high of $51.83. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 3.54 and a beta of 0.34.
New Jersey Resources (NYSE:NJR) last posted its quarterly earnings data on Wednesday, February 6th. The utilities provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.08). The firm had revenue of $811.77 million for the quarter, compared to analysts’ expectations of $712.00 million. New Jersey Resources had a net margin of 6.49% and a return on equity of 10.92%. New Jersey Resources’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.56 earnings per share. Sell-side analysts predict that New Jersey Resources Corp will post 2.01 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be given a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Thursday, March 14th. New Jersey Resources’s dividend payout ratio (DPR) is 42.70%.
NJR has been the subject of a number of analyst reports. Zacks Investment Research raised shares of New Jersey Resources from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Tuesday, February 5th. Guggenheim lowered shares of New Jersey Resources from a “neutral” rating to a “sell” rating in a research note on Monday, January 7th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $50.00.
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New Jersey Resources Profile
New Jersey Resources Corporation, an energy services holding company, provides regulated gas distribution, and retail and wholesale energy services. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Midstream segments. The Natural Gas Distribution segment offers regulated retail natural gas services to approximately 538,700 residential and commercial customers in central and northern New Jersey; provides storage management services; and participates in the off-system sales and capacity release markets.
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