Thrivent Financial For Lutherans cut its stake in New Jersey Resources Corp (NYSE:NJR) by 26.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,247 shares of the utilities provider’s stock after selling 89,934 shares during the period. Thrivent Financial For Lutherans owned approximately 0.29% of New Jersey Resources worth $10,140,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of NJR. Renaissance Technologies LLC boosted its holdings in shares of New Jersey Resources by 123.6% in the fourth quarter. Renaissance Technologies LLC now owns 362,500 shares of the utilities provider’s stock valued at $14,573,000 after acquiring an additional 200,400 shares in the last quarter. BlackRock Inc. lifted its stake in New Jersey Resources by 1.4% during the fourth quarter. BlackRock Inc. now owns 11,659,855 shares of the utilities provider’s stock valued at $468,727,000 after purchasing an additional 157,140 shares during the last quarter. First Trust Advisors LP lifted its stake in New Jersey Resources by 21.8% during the fourth quarter. First Trust Advisors LP now owns 613,451 shares of the utilities provider’s stock valued at $24,661,000 after purchasing an additional 109,597 shares during the last quarter. Kennedy Capital Management Inc. lifted its stake in New Jersey Resources by 25.9% during the fourth quarter. Kennedy Capital Management Inc. now owns 470,182 shares of the utilities provider’s stock valued at $18,901,000 after purchasing an additional 96,695 shares during the last quarter. Finally, Covalis Capital LLP acquired a new stake in New Jersey Resources during the fourth quarter valued at approximately $2,965,000. Institutional investors and hedge funds own 64.16% of the company’s stock.
Shares of New Jersey Resources Corp (NYSE:NJR) opened at $39.70 on Wednesday. New Jersey Resources Corp has a one year low of $35.55 and a one year high of $45.45. The company has a market cap of $3,490.66, a P/E ratio of 14.13, a P/E/G ratio of 2.55 and a beta of 0.35. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be given a $0.2725 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.09 annualized dividend and a dividend yield of 2.75%. New Jersey Resources’s dividend payout ratio (DPR) is presently 42.91%.
Several analysts recently commented on the stock. Janney Montgomery Scott raised shares of New Jersey Resources from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 22nd. ValuEngine raised shares of New Jersey Resources from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research raised shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research note on Saturday, November 18th. TheStreet lowered shares of New Jersey Resources from a “b” rating to a “c+” rating in a research note on Wednesday, January 3rd. Finally, Bank of America reissued a “neutral” rating on shares of New Jersey Resources in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $43.25.
In related news, VP Patrick J. Migliaccio sold 2,618 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $37.90, for a total value of $99,222.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is currently owned by corporate insiders.
About New Jersey Resources
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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