Janney Montgomery Scott LLC lifted its position in shares of NewJersey Resources Corporation (NYSE:NJR – Free Report) by 0.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 207,776 shares of the utilities provider’s stock after acquiring an additional 1,567 shares during the period. Janney Montgomery Scott LLC owned about 0.21% of NewJersey Resources worth $10,193,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of NewJersey Resources during the 4th quarter valued at approximately $42,000. Ameriflex Group Inc. acquired a new stake in shares of NewJersey Resources during the 4th quarter valued at approximately $51,000. Lazard Asset Management LLC raised its position in shares of NewJersey Resources by 6,245.8% during the 4th quarter. Lazard Asset Management LLC now owns 1,523 shares of the utilities provider’s stock valued at $71,000 after acquiring an additional 1,499 shares in the last quarter. Quarry LP raised its position in shares of NewJersey Resources by 13,692.3% during the 4th quarter. Quarry LP now owns 1,793 shares of the utilities provider’s stock valued at $84,000 after acquiring an additional 1,780 shares in the last quarter. Finally, UMB Bank n.a. raised its position in shares of NewJersey Resources by 107.9% during the 1st quarter. UMB Bank n.a. now owns 1,744 shares of the utilities provider’s stock valued at $86,000 after acquiring an additional 905 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.
Insider Activity at NewJersey Resources
In related news, CFO Roberto Bel sold 2,346 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $48.58, for a total transaction of $113,968.68. Following the completion of the transaction, the chief financial officer now owns 23,822 shares of the company’s stock, valued at $1,157,272.76. This trade represents a 8.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.72% of the company’s stock.
Analyst Ratings Changes
View Our Latest Analysis on NewJersey Resources
NewJersey Resources Trading Up 0.1%
NYSE:NJR opened at $44.26 on Friday. NewJersey Resources Corporation has a 1 year low of $41.68 and a 1 year high of $51.95. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of 10.74 and a beta of 0.62. The business has a fifty day moving average of $46.85 and a 200-day moving average of $47.24. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.73 and a current ratio of 0.93.
NewJersey Resources (NYSE:NJR – Get Free Report) last released its quarterly earnings results on Monday, May 5th. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.11. NewJersey Resources had a return on equity of 16.95% and a net margin of 20.03%. The company had revenue of $913.03 million during the quarter, compared to analysts’ expectations of $732.00 million. During the same quarter in the prior year, the business posted $1.41 earnings per share. The company’s revenue for the quarter was up 38.8% compared to the same quarter last year. Equities analysts predict that NewJersey Resources Corporation will post 3.15 earnings per share for the current year.
NewJersey Resources Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $1.80 annualized dividend and a dividend yield of 4.07%. NewJersey Resources’s payout ratio is 43.69%.
About NewJersey Resources
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.
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