Americafirst Capital Management LLC purchased a new position in shares of NewJersey Resources Corporation (NYSE:NJR) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 10,514 shares of the utilities provider’s stock, valued at approximately $443,000.
Several other institutional investors have also bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of NewJersey Resources by 8.7% during the second 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 period. Patten Group Inc. raised its position in shares of NewJersey Resources by 2,111.9% during the third quarter. Patten Group Inc. now owns 66,357 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 63,357 shares during the period. Advisor Group Inc. raised its position in shares of NewJersey Resources by 59.7% during the second 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 period. Flinton Capital Management LLC raised its position in shares of NewJersey Resources by 92.2% during the second 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 period. Finally, Mosaic Family Wealth LLC raised its position in shares of NewJersey Resources by 5.9% during the second 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 period. Hedge funds and other institutional investors own 63.60% of the company’s stock.
In other news, Director Lawrence R. Codey sold 6,000 shares of the firm’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $43.13, for a total transaction of $258,780.00. Following the completion of the sale, the director now directly owns 13,266 shares of the company’s stock, valued at approximately $572,162.58. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Amanda Mullan sold 920 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $44.64, for a total value of $41,068.80. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
A number of equities analysts have recently weighed in on the company. ValuEngine lowered NewJersey Resources from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. BidaskClub raised NewJersey Resources from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. Janney Montgomery Scott raised NewJersey Resources from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 22nd. Zacks Investment Research raised NewJersey Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 18th. Finally, Bank of America increased their price target on NewJersey Resources from $35.00 to $38.00 and gave the company an “underperform” rating in a research report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $42.00.
NewJersey Resources Corporation (NYSE:NJR) traded down $0.35 during midday trading on Thursday, reaching $41.75. The company had a trading volume of 496,600 shares, compared to its average volume of 425,013. The stock has a market cap of $3,560.00, a price-to-earnings ratio of 24.48, a P/E/G ratio of 3.88 and a beta of 0.42. NewJersey Resources Corporation has a twelve month low of $33.70 and a twelve month high of $45.45. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.72 and a quick ratio of 0.46.
NewJersey Resources (NYSE:NJR) last released its quarterly earnings results on Tuesday, November 21st. The utilities provider reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The company had revenue of $536.50 million during the quarter, compared to analysts’ expectations of $480.90 million. NewJersey Resources had a net margin of 5.82% and a return on equity of 11.97%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.03) earnings per share. research analysts anticipate that NewJersey Resources Corporation will post 1.81 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be given a $0.2725 dividend. This is a positive change from NewJersey Resources’s previous quarterly dividend of $0.26. This represents a $1.09 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Thursday, December 14th. NewJersey Resources’s dividend payout ratio is presently 72.19%.
About NewJersey Resources
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.
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