Advisory Services Network LLC increased its position in New Jersey Resources Corp (NYSE:NJR) by 745.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,672 shares of the utilities provider’s stock after buying an additional 13,818 shares during the period. Advisory Services Network LLC’s holdings in New Jersey Resources were worth $630,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of New Jersey Resources in the third quarter worth about $429,000. Beacon Investment Advisory Services Inc. purchased a new stake in New Jersey Resources during the third quarter valued at approximately $1,054,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in New Jersey Resources by 54.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,731 shares of the utilities provider’s stock valued at $190,000 after purchasing an additional 1,674 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in New Jersey Resources during the third quarter valued at approximately $336,000. Finally, Janney Montgomery Scott LLC raised its position in New Jersey Resources by 4.6% during the third quarter. Janney Montgomery Scott LLC now owns 58,800 shares of the utilities provider’s stock valued at $2,478,000 after purchasing an additional 2,561 shares during the period. Institutional investors own 64.16% of the company’s stock.
NJR has been the topic of a number of recent research reports. TheStreet downgraded New Jersey Resources from a “b” rating to a “c+” rating in a research report on Wednesday, January 3rd. Guggenheim restated a “buy” rating and set a $44.00 price objective on shares of New Jersey Resources in a research report on Wednesday, January 3rd. Zacks Investment Research upgraded New Jersey Resources from a “hold” rating to a “strong-buy” rating and set a $44.00 price objective on the stock in a research report on Tuesday, February 13th. ValuEngine downgraded New Jersey Resources from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Janney Montgomery Scott upgraded New Jersey Resources from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 22nd. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $43.25.
In other news, VP Patrick J. Migliaccio sold 2,618 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $37.90, for a total transaction of $99,222.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.50% of the company’s stock.
New Jersey Resources Corp (NYSE NJR) traded down $0.15 on Wednesday, hitting $39.55. The stock had a trading volume of 377,768 shares, compared to its average volume of 725,139. The company has a market capitalization of $3,490.66, a PE ratio of 15.57, a price-to-earnings-growth ratio of 2.55 and a beta of 0.35. New Jersey Resources Corp has a 1 year low of $35.55 and a 1 year high of $45.45. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.83.
New Jersey Resources (NYSE:NJR) last released its earnings results on Thursday, February 8th. The utilities provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.97. The firm had revenue of $705.31 million for the quarter, compared to analysts’ expectations of $564.47 million. New Jersey Resources had a return on equity of 18.96% and a net margin of 9.08%. The company’s quarterly revenue was up 30.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 earnings per share. sell-side analysts expect that New Jersey Resources Corp will post 2.6 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be paid a dividend of $0.2725 per share. The ex-dividend date is Wednesday, March 14th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 2.76%. New Jersey Resources’s dividend payout ratio is 42.91%.
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New Jersey 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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