BlueCrest Capital Management Ltd Takes $2.69 Million Position in NewJersey Resources Corporation (NJR)

BlueCrest Capital Management Ltd acquired a new position in shares of NewJersey Resources Corporation (NYSE:NJR) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 67,699 shares of the utilities provider’s stock, valued at approximately $2,688,000. BlueCrest Capital Management Ltd owned about 0.08% of NewJersey Resources Corporation at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of NewJersey Resources Corporation by 8.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,057 shares of the utilities provider’s stock worth $121,000 after purchasing an additional 244 shares during the last quarter. Advisor Group Inc. increased its stake in shares of NewJersey Resources Corporation by 59.7% during the 2nd quarter. Advisor Group Inc. now owns 4,251 shares of the utilities provider’s stock worth $163,000 after purchasing an additional 1,589 shares during the last quarter. Flinton Capital Management LLC increased its stake in shares of NewJersey Resources Corporation by 92.2% during the 2nd quarter. Flinton Capital Management LLC now owns 4,336 shares of the utilities provider’s stock worth $172,000 after purchasing an additional 2,080 shares during the last quarter. Mosaic Family Wealth LLC increased its stake in shares of NewJersey Resources Corporation by 5.9% during the 2nd quarter. Mosaic Family Wealth LLC now owns 4,359 shares of the utilities provider’s stock worth $173,000 after purchasing an additional 243 shares during the last quarter. Finally, Riverhead Capital Management LLC increased its stake in shares of NewJersey Resources Corporation by 93.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,826 shares of the utilities provider’s stock worth $192,000 after purchasing an additional 2,326 shares during the last quarter. Institutional investors own 64.00% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “BlueCrest Capital Management Ltd Takes $2.69 Million Position in NewJersey Resources Corporation (NJR)” was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this report on another website, it was copied illegally and republished in violation of international trademark and copyright laws. The legal version of this report can be read at https://ledgergazette.com/2017/10/10/bluecrest-capital-management-ltd-takes-2-69-million-position-in-newjersey-resources-corporation-njr.html.

Shares of NewJersey Resources Corporation (NYSE:NJR) traded up 0.47% during mid-day trading on Tuesday, hitting $43.05. 4,372 shares of the company traded hands. NewJersey Resources Corporation has a one year low of $31.21 and a one year high of $44.30. The firm has a 50-day moving average of $42.98 and a 200-day moving average of $41.61. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 19.30 and a beta of 0.46.

NewJersey Resources Corporation (NYSE:NJR) last posted its earnings results on Wednesday, August 2nd. The utilities provider reported $0.20 earnings per share for the quarter, topping the 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 net margin of 8.81% and a return on equity of 12.77%. The company’s revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the company earned $0.13 earnings per share. On average, equities analysts predict that NewJersey Resources Corporation will post $1.74 earnings per share for the current year.

Several research analysts have recently weighed in on NJR shares. Zacks Investment Research upgraded shares of NewJersey Resources Corporation 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. Argus lifted their target price on shares of NewJersey Resources Corporation from $46.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, August 28th. BidaskClub downgraded shares of NewJersey Resources C

Other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of NewJersey Resources Corporation by 8.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,057 shares of the utilities provider’s stock worth $121,000 after purchasing an additional 244 shares during the last quarter. Advisor Group Inc. increased its stake in shares of NewJersey Resources Corporation by 59.7% during the 2nd quarter. Advisor Group Inc. now owns 4,251 shares of the utilities provider’s stock worth $163,000 after purchasing an additional 1,589 shares during the last quarter. Flinton Capital Management LLC increased its stake in shares of NewJersey Resources Corporation by 92.2% during the 2nd quarter. Flinton Capital Management LLC now owns 4,336 shares of the utilities provider’s stock worth $172,000 after purchasing an additional 2,080 shares during the last quarter. Mosaic Family Wealth LLC increased its stake in shares of NewJersey Resources Corporation by 5.9% during the 2nd quarter. Mosaic Family Wealth LLC now owns 4,359 shares of the utilities provider’s stock worth $173,000 after purchasing an additional 243 shares during the last quarter. Finally, Riverhead Capital Management LLC increased its stake in shares of NewJersey Resources Corporation by 93.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,826 shares of the utilities provider’s stock worth $192,000 after purchasing an additional 2,326 shares during the last quarter. Institutional investors own 64.00% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “BlueCrest Capital Management Ltd Takes $2.69 Million Position in NewJersey Resources Corporation (NJR)” was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this report on another website, it was copied illegally and republished in violation of international trademark and copyright laws. The legal version of this report can be read at https://ledgergazette.com/2017/10/10/bluecrest-capital-management-ltd-takes-2-69-million-position-in-newjersey-resources-corporation-njr.html.

Shares of NewJersey Resources Corporation (NYSE:NJR) traded up 0.47% during mid-day trading on Tuesday, hitting $43.05. 4,372 shares of the company traded hands. NewJersey Resources Corporation has a one year low of $31.21 and a one year high of $44.30. The firm has a 50-day moving average of $42.98 and a 200-day moving average of $41.61. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 19.30 and a beta of 0.46.

NewJersey Resources Corporation (NYSE:NJR) last posted its earnings results on Wednesday, August 2nd. The utilities provider reported $0.20 earnings per share for the quarter, topping the 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 net margin of 8.81% and a return on equity of 12.77%. The company’s revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the company earned $0.13 earnings per share. On average, equities analysts predict that NewJersey Resources Corporation will post $1.74 earnings per share for the current year.

Several research analysts have recently weighed in on NJR shares. Zacks Investment Research upgraded shares of NewJersey Resources Corporation 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. Argus lifted their target price on shares of NewJersey Resources Corporation from $46.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, August 28th. BidaskClub downgraded shares of NewJersey Resources Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Finally, Bank of America Corporation lifted their target price on shares of NewJersey Resources Corporation from $35.00 to $38.00 and gave the stock an “underperform” rating in a report on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. NewJersey Resources Corporation has a consensus rating of “Buy” and a consensus price target of $40.80.

About NewJersey Resources Corporation

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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