BNP Paribas Arbitrage SA Grows Position in New Jersey Resources Corp (NJR)

BNP Paribas Arbitrage SA grew its stake in New Jersey Resources Corp (NYSE:NJR) by 92.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,956 shares of the utilities provider’s stock after buying an additional 22,600 shares during the period. BNP Paribas Arbitrage SA owned 0.05% of New Jersey Resources Corp worth $1,864,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Teachers Advisors LLC grew its stake in shares of New Jersey Resources Corp by 3.0% during the 4th quarter. Teachers Advisors LLC now owns 154,600 shares of the utilities provider’s stock worth $5,488,000 after purchasing an additional 4,549 shares during the period. Bank of Montreal Can grew its stake in shares of New Jersey Resources Corp by 6.4% during the 1st quarter. Bank of Montreal Can now owns 37,572 shares of the utilities provider’s stock worth $1,488,000 after purchasing an additional 2,247 shares during the period. Capstone Asset Management Co. grew its stake in shares of New Jersey Resources Corp by 0.4% during the 1st quarter. Capstone Asset Management Co. now owns 7,198 shares of the utilities provider’s stock worth $285,000 after purchasing an additional 30 shares during the period. Louisiana State Employees Retirement System grew its stake in shares of New Jersey Resources Corp by 2.3% during the 1st quarter. Louisiana State Employees Retirement System now owns 21,800 shares of the utilities provider’s stock worth $863,000 after purchasing an additional 500 shares during the period. Finally, Strs Ohio grew its stake in shares of New Jersey Resources Corp by 12.0% during the 1st quarter. Strs Ohio now owns 11,200 shares of the utilities provider’s stock worth $443,000 after purchasing an additional 1,200 shares during the period. Hedge funds and other institutional investors own 64.16% of the company’s stock.

NJR has been the topic of a number of research reports. Zacks Investment Research raised shares of New Jersey Resources Corp from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Tuesday, July 11th. BidaskClub cut shares of New Jersey Resources Corp from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Argus increased their price objective on shares of New Jersey Resources Corp from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Monday, August 28th. Finally, Bank of America Corporation increased their price objective on shares of New Jersey Resources Corp from $35.00 to $38.00 and gave the company an “underperform” rating in a research note on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $40.80.

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Shares of New Jersey Resources Corp (NYSE:NJR) traded down 0.23% on Friday, hitting $43.15. 726,356 shares of the stock traded hands. The company’s 50 day moving average is $43.26 and its 200 day moving average is $41.16. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 19.34 and a beta of 0.47. New Jersey Resources Corp has a one year low of $30.46 and a one year high of $44.30.

New Jersey Resources Corp (NYSE:NJR) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.19. New Jersey Resources Corp had a return on equity of 5.92% and a net margin of 3.47%. The firm had revenue of $457.52 million during the quarter, compared to the consensus estimate of $410.24 million. During the same period last year, the company earned $0.13 earnings per share. The business’s revenue was up 16.4% compared to the same quarter last year. On average, equities analysts forecast that New Jersey Resources Corp will post $1.74 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 22nd will be given a $0.255 dividend. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.36%. New Jersey Resources Corp’s payout ratio is 45.74%.

New Jersey Resources Corp 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.

Institutional Ownership by Quarter for New Jersey Resources Corp (NYSE:NJR)

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