Rhumbline Advisers raised its position in New Jersey Resources Corp (NYSE:NJR) by 1.4% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 281,971 shares of the utilities provider’s stock after acquiring an additional 3,889 shares during the period. Rhumbline Advisers owned about 0.32% of New Jersey Resources worth $14,039,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in New Jersey Resources by 4.5% in the 4th quarter. BlackRock Inc. now owns 12,547,617 shares of the utilities provider’s stock valued at $573,052,000 after buying an additional 539,323 shares in the last quarter. Vanguard Group Inc increased its stake in shares of New Jersey Resources by 1.1% in the third quarter. Vanguard Group Inc now owns 9,135,967 shares of the utilities provider’s stock valued at $421,169,000 after buying an additional 96,027 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of New Jersey Resources by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,856,881 shares of the utilities provider’s stock valued at $84,803,000 after buying an additional 10,534 shares during the period. Northern Trust Corp increased its stake in shares of New Jersey Resources by 36.2% in the fourth quarter. Northern Trust Corp now owns 1,851,821 shares of the utilities provider’s stock valued at $84,573,000 after buying an additional 492,576 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of New Jersey Resources by 4,467.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,577,259 shares of the utilities provider’s stock valued at $35,000 after buying an additional 1,542,723 shares during the period. Hedge funds and other institutional investors own 66.83% of the company’s stock.
NYSE NJR opened at $49.50 on Thursday. New Jersey Resources Corp has a one year low of $40.28 and a one year high of $51.83. The company has a market cap of $4.45 billion, a P/E ratio of 18.07, a price-to-earnings-growth ratio of 3.56 and a beta of 0.33. The company has a quick ratio of 0.91, a current ratio of 1.04 and a debt-to-equity ratio of 0.75.
New Jersey Resources (NYSE:NJR) last released its earnings results on Friday, May 3rd. The utilities provider reported $1.27 EPS for the quarter, topping the consensus estimate of $1.19 by $0.08. New Jersey Resources had a return on equity of 8.73% and a net margin of 4.51%. The business had revenue of $866.26 million during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the firm posted $1.62 earnings per share. The firm’s revenue was down 15.0% on a year-over-year basis. As a group, research analysts predict that New Jersey Resources Corp will post 2 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be paid a dividend of $0.2925 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.17 annualized dividend and a yield of 2.36%. New Jersey Resources’s dividend payout ratio is currently 42.70%.
In other New Jersey Resources news, Director David A. Trice sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $49.27, for a total value of $985,400.00. Following the completion of the sale, the director now owns 23,585 shares of the company’s stock, valued at $1,162,032.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director M William Howard, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $50.17, for a total value of $50,170.00. Following the completion of the sale, the director now directly owns 16,713 shares of the company’s stock, valued at approximately $838,491.21. The disclosure for this sale can be found here. Insiders have sold 26,068 shares of company stock valued at $1,287,777 in the last ninety days. 1.30% of the stock is currently owned by insiders.
Separately, Zacks Investment Research raised New Jersey Resources from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Tuesday, January 22nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. New Jersey Resources currently has a consensus rating of “Hold” and an average price target of $50.00.
TRADEMARK VIOLATION WARNING: This piece of content was posted by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US & international copyright & trademark legislation. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2019/05/16/rhumbline-advisers-grows-holdings-in-new-jersey-resources-corp-njr.html.
New Jersey Resources Company Profile
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.
Want to see what other hedge funds are holding NJR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for New Jersey Resources Corp (NYSE:NJR).
Receive News & Ratings for New Jersey Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Jersey Resources and related companies with MarketBeat.com's FREE daily email newsletter.