NewJersey Resources Corporation (NJR) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. lifted its holdings in NewJersey Resources Corporation (NYSE:NJR) by 1.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,361,117 shares of the utilities provider’s stock after purchasing an additional 99,093 shares during the quarter. Vanguard Group Inc. owned about 9.66% of NewJersey Resources Corporation worth $331,937,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Capstone Asset Management Co. grew its position in shares of NewJersey Resources Corporation by 0.3% in the 2nd quarter. Capstone Asset Management Co. now owns 7,218 shares of the utilities provider’s stock valued at $287,000 after purchasing an additional 20 shares during the period. FineMark National Bank & Trust grew its position in shares of NewJersey Resources Corporation by 0.4% in the 2nd quarter. FineMark National Bank & Trust now owns 8,178 shares of the utilities provider’s stock valued at $325,000 after purchasing an additional 34 shares during the period. National Planning Corp grew its position in shares of NewJersey Resources Corporation by 0.6% in the 2nd quarter. National Planning Corp now owns 8,256 shares of the utilities provider’s stock valued at $330,000 after purchasing an additional 51 shares during the period. TD Asset Management Inc. grew its position in shares of NewJersey Resources Corporation by 0.5% in the 2nd quarter. TD Asset Management Inc. now owns 19,024 shares of the utilities provider’s stock valued at $755,000 after purchasing an additional 100 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in shares of NewJersey Resources Corporation by 2.0% in the 1st quarter. Public Employees Retirement System of Ohio now owns 5,539 shares of the utilities provider’s stock valued at $219,000 after purchasing an additional 111 shares during the period. Institutional investors and hedge funds own 64.00% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This article was originally posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this article on another domain, it was stolen and republished in violation of United States and international copyright and trademark law. The original version of this article can be read at https://ledgergazette.com/2017/10/09/newjersey-resources-corporation-njr-shares-bought-by-vanguard-group-inc.html.

NJR has been the subject of several research analyst reports. Argus boosted their price objective on NewJersey Resources Corporation from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Monday, August 28th. Bank of America Corporation boosted their price objective on NewJersey Resources Corporation from $35.00 to $38.00 and gave the company an “underperform” rating in a research report on Wednesday, August 23rd. BidaskClub lowered NewJersey Resources Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Finally, Zacks Investment Research upgraded NewJersey Resources Corporation from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. NewJersey Resources Corporation presently has an average rating of “Buy” and a consensus target price of $40.80.

NewJersey Resources Corporation (NJR) opened at 42.80 on Monday. The firm’s 50-day moving average price is $42.98 and its 200-day moving average price is $41.54. The firm has a market cap of $3.70 billion, a P/E ratio of 19.18 and a beta of 0.46. NewJersey Resources Corporation has a 52-week low of $31.10 and a 52-week high of $44.30.

NewJersey Resources Corporation (NYSE:NJR) last released its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.19. The firm had revenue of $457.52 million during the quarter, compared to the consensus estimate of $410.24 million. NewJersey Resources Corporation had a return on equity of 12.77% and a net margin of 8.81%. The company’s quarterly revenue was up 16.4% on a year-over-year bas

Several other institutional investors and hedge funds have also modified their holdings of the stock. Capstone Asset Management Co. grew its position in shares of NewJersey Resources Corporation by 0.3% in the 2nd quarter. Capstone Asset Management Co. now owns 7,218 shares of the utilities provider’s stock valued at $287,000 after purchasing an additional 20 shares during the period. FineMark National Bank & Trust grew its position in shares of NewJersey Resources Corporation by 0.4% in the 2nd quarter. FineMark National Bank & Trust now owns 8,178 shares of the utilities provider’s stock valued at $325,000 after purchasing an additional 34 shares during the period. National Planning Corp grew its position in shares of NewJersey Resources Corporation by 0.6% in the 2nd quarter. National Planning Corp now owns 8,256 shares of the utilities provider’s stock valued at $330,000 after purchasing an additional 51 shares during the period. TD Asset Management Inc. grew its position in shares of NewJersey Resources Corporation by 0.5% in the 2nd quarter. TD Asset Management Inc. now owns 19,024 shares of the utilities provider’s stock valued at $755,000 after purchasing an additional 100 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in shares of NewJersey Resources Corporation by 2.0% in the 1st quarter. Public Employees Retirement System of Ohio now owns 5,539 shares of the utilities provider’s stock valued at $219,000 after purchasing an additional 111 shares during the period. Institutional investors and hedge funds own 64.00% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This article was originally posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this article on another domain, it was stolen and republished in violation of United States and international copyright and trademark law. The original version of this article can be read at https://ledgergazette.com/2017/10/09/newjersey-resources-corporation-njr-shares-bought-by-vanguard-group-inc.html.

NJR has been the subject of several research analyst reports. Argus boosted their price objective on NewJersey Resources Corporation from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Monday, August 28th. Bank of America Corporation boosted their price objective on NewJersey Resources Corporation from $35.00 to $38.00 and gave the company an “underperform” rating in a research report on Wednesday, August 23rd. BidaskClub lowered NewJersey Resources Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Finally, Zacks Investment Research upgraded NewJersey Resources Corporation from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. NewJersey Resources Corporation presently has an average rating of “Buy” and a consensus target price of $40.80.

NewJersey Resources Corporation (NJR) opened at 42.80 on Monday. The firm’s 50-day moving average price is $42.98 and its 200-day moving average price is $41.54. The firm has a market cap of $3.70 billion, a P/E ratio of 19.18 and a beta of 0.46. NewJersey Resources Corporation has a 52-week low of $31.10 and a 52-week high of $44.30.

NewJersey Resources Corporation (NYSE:NJR) last released its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.19. The firm had revenue of $457.52 million during the quarter, compared to the consensus estimate of $410.24 million. NewJersey Resources Corporation had a return on equity of 12.77% and a net margin of 8.81%. The company’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.13 earnings per share. Equities research analysts expect that NewJersey Resources Corporation will post $1.74 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 22nd were issued a dividend of $0.255 per share. The ex-dividend date of this dividend was Thursday, September 21st. This represents a $1.02 annualized dividend and a dividend yield of 2.38%. NewJersey Resources Corporation’s dividend payout ratio is 48.88%.

NewJersey Resources Corporation 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 NewJersey Resources Corporation (NYSE:NJR)

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