Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of New Jersey Resources Corp (NYSE:NJR) by 10.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,884 shares of the utilities provider’s stock after purchasing an additional 557 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in New Jersey Resources were worth $269,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of NJR. Legal & General Group Plc increased its position in shares of New Jersey Resources by 0.4% during the third quarter. Legal & General Group Plc now owns 106,927 shares of the utilities provider’s stock valued at $4,930,000 after acquiring an additional 448 shares in the last quarter. Bank of Montreal Can increased its position in shares of New Jersey Resources by 2.5% during the fourth quarter. Bank of Montreal Can now owns 29,468 shares of the utilities provider’s stock valued at $1,346,000 after acquiring an additional 726 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of New Jersey Resources by 6.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 12,813 shares of the utilities provider’s stock valued at $585,000 after acquiring an additional 730 shares in the last quarter. Rhumbline Advisers increased its position in shares of New Jersey Resources by 0.7% during the third quarter. Rhumbline Advisers now owns 169,617 shares of the utilities provider’s stock valued at $7,819,000 after acquiring an additional 1,128 shares in the last quarter. Finally, Legacy Advisors LLC increased its position in shares of New Jersey Resources by 10.0% during the third quarter. Legacy Advisors LLC now owns 12,997 shares of the utilities provider’s stock valued at $603,000 after acquiring an additional 1,182 shares in the last quarter. Institutional investors own 67.72% of the company’s stock.
In other New Jersey Resources news, Director M William Howard, Jr. sold 1,000 shares of New Jersey Resources stock in a transaction that occurred on Friday, January 11th. The shares were sold at an average price of $44.63, for a total value of $44,630.00. Following the completion of the sale, the director now owns 18,713 shares of the company’s stock, valued at approximately $835,161.19. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 3,000 shares of company stock valued at $138,080. 1.30% of the stock is currently owned by insiders.
New Jersey Resources (NYSE:NJR) last posted its earnings results on Wednesday, February 6th. The utilities provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.08). New Jersey Resources had a return on equity of 10.92% and a net margin of 6.49%. The company had revenue of $811.77 million during the quarter, compared to the consensus estimate of $712.00 million. During the same period last year, the firm posted $1.56 EPS. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. Research analysts forecast that New Jersey Resources Corp will post 2.01 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders 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 yield of 2.58%. The ex-dividend date is Thursday, March 14th. New Jersey Resources’s dividend payout ratio (DPR) is presently 42.70%.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of New Jersey Resources from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research report on Tuesday, February 5th. Guggenheim downgraded shares of New Jersey Resources from a “neutral” rating to a “sell” rating in a research report on Monday, January 7th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $48.00.
About New Jersey Resources
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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