ProShare Advisors LLC Sells 831,569 Shares of New Jersey Resources Co. (NYSE:NJR)

ProShare Advisors LLC reduced its stake in shares of New Jersey Resources Co. (NYSE:NJR) by 47.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 912,533 shares of the utilities provider’s stock after selling 831,569 shares during the period. ProShare Advisors LLC owned 0.91% of New Jersey Resources worth $42,570,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Roxbury Financial LLC purchased a new position in New Jersey Resources in the 4th quarter worth approximately $25,000. UMB Bank n.a. increased its position in shares of New Jersey Resources by 69.8% during the 4th quarter. UMB Bank n.a. now owns 839 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 345 shares during the last quarter. Halbert Hargrove Global Advisors LLC bought a new position in shares of New Jersey Resources during the 4th quarter valued at approximately $42,000. Newbridge Financial Services Group Inc. bought a new position in shares of New Jersey Resources during the 4th quarter valued at approximately $51,000. Finally, Lazard Asset Management LLC increased its position in shares of New Jersey Resources by 6,245.8% during the 4th quarter. Lazard Asset Management LLC now owns 1,523 shares of the utilities provider’s stock valued at $71,000 after purchasing an additional 1,499 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

New Jersey Resources Trading Up 1.5%

Shares of NYSE NJR opened at $46.18 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.89 and a quick ratio of 0.61. The stock has a market capitalization of $4.64 billion, a P/E ratio of 13.91 and a beta of 0.66. New Jersey Resources Co. has a 1-year low of $41.58 and a 1-year high of $51.95. The business has a fifty day moving average price of $48.46 and a 200 day moving average price of $47.80.

New Jersey Resources (NYSE:NJR) last issued its quarterly earnings data on Monday, May 5th. The utilities provider reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.11. The firm had revenue of $913.03 million during the quarter, compared to analysts’ expectations of $732.00 million. New Jersey Resources had a return on equity of 15.72% and a net margin of 18.25%. The firm’s quarterly revenue was up 38.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.41 EPS. Equities research analysts expect that New Jersey Resources Co. will post 3.15 EPS for the current fiscal year.

New Jersey Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date is Tuesday, June 10th. New Jersey Resources’s dividend payout ratio (DPR) is currently 43.69%.

Insider Buying and Selling

In other New Jersey Resources news, CFO Roberto Bel sold 1,173 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $50.00, for a total value of $58,650.00. Following the completion of the sale, the chief financial officer now directly owns 22,649 shares in the company, valued at approximately $1,132,450. This trade represents a 4.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on NJR shares. New Street Research set a $51.00 price objective on New Jersey Resources in a research report on Tuesday, April 1st. Jefferies Financial Group assumed coverage on New Jersey Resources in a research report on Tuesday, April 1st. They set a “hold” rating and a $51.00 price target on the stock. StockNews.com raised New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. dropped their price target on New Jersey Resources from $54.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company increased their price target on New Jersey Resources from $51.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $51.83.

New Jersey Resources Profile

New Jersey Resources Corporation, an energy services holding company, distributes natural gas. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Storage and Transportation. The Natural Gas Distribution segment offers regulated natural gas utility services to approximately 576,000 customers in Burlington, Middlesex, Monmouth, Morris, Ocean, and Sussex counties in New Jersey; provides capacity and storage management services; and participates in the off-system sales and capacity release markets.