10,108 Shares in NewJersey Resources Corporation $NJR Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC bought a new position in NewJersey Resources Corporation (NYSE:NJR) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 10,108 shares of the utilities provider’s stock, valued at approximately $453,000.

A number of other institutional investors have also recently made changes to their positions in NJR. Cullen Frost Bankers Inc. raised its holdings in shares of NewJersey Resources by 153.0% during the second quarter. Cullen Frost Bankers Inc. now owns 754 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 456 shares during the last quarter. IFP Advisors Inc grew its position in NewJersey Resources by 23.1% in the 2nd quarter. IFP Advisors Inc now owns 1,504 shares of the utilities provider’s stock worth $67,000 after purchasing an additional 282 shares during the period. Brooklyn Investment Group raised its stake in NewJersey Resources by 1,715.4% during the 1st quarter. Brooklyn Investment Group now owns 1,416 shares of the utilities provider’s stock valued at $69,000 after buying an additional 1,338 shares during the last quarter. AlphaQuest LLC lifted its holdings in shares of NewJersey Resources by 112.1% during the 2nd quarter. AlphaQuest LLC now owns 2,229 shares of the utilities provider’s stock valued at $100,000 after buying an additional 1,178 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in shares of NewJersey Resources by 29.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,410 shares of the utilities provider’s stock valued at $108,000 after buying an additional 551 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

NewJersey Resources Stock Performance

Shares of NJR opened at $46.58 on Friday. The business has a 50-day simple moving average of $46.29 and a two-hundred day simple moving average of $46.22. The company has a quick ratio of 0.48, a current ratio of 0.76 and a debt-to-equity ratio of 1.25. NewJersey Resources Corporation has a 52 week low of $43.46 and a 52 week high of $51.94. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of 11.39 and a beta of 0.67.

NewJersey Resources (NYSE:NJR) last announced its quarterly earnings data on Friday, May 19th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter. The company had revenue of $912.32 million during the quarter. NewJersey Resources had a return on equity of 17.08% and a net margin of 19.64%. On average, analysts expect that NewJersey Resources Corporation will post 3.15 EPS for the current year.

NewJersey Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 12th will be paid a $0.475 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.1%. NewJersey Resources’s dividend payout ratio is 46.45%.

Analyst Ratings Changes

Several analysts recently commented on NJR shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NewJersey Resources in a report on Wednesday, October 8th. Wall Street Zen upgraded NewJersey Resources from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $50.00 price target (up previously from $49.00) on shares of NewJersey Resources in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $51.43.

NewJersey Resources Company 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.