Vanguard Group Inc. decreased its position in New Jersey Resources Corp. (NYSE:NJR) by 3.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,305,759 shares of the company’s stock after selling 264,657 shares during the period. Vanguard Group Inc. owned about 8.48% of New Jersey Resources Corp. worth $281,636,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in NJR. Hallmark Capital Management Inc. bought a new stake in New Jersey Resources Corp. during the second quarter worth approximately $179,000. LS Investment Advisors LLC increased its stake in New Jersey Resources Corp. by 75.3% in the second quarter. LS Investment Advisors LLC now owns 5,130 shares of the company’s stock worth $198,000 after buying an additional 2,203 shares during the period. Cypress Wealth Advisors LLC bought a new stake in New Jersey Resources Corp. during the first quarter worth approximately $206,000. Fulton Bank N.A. bought a new stake in New Jersey Resources Corp. during the second quarter worth approximately $208,000. Finally, Princeton Alpha Management LP acquired a new stake in New Jersey Resources Corp. during the second quarter worth approximately $245,000. Institutional investors own 60.28% of the company’s stock.
New Jersey Resources Corp. (NYSE:NJR) opened at 32.10 on Tuesday. The stock has a market capitalization of $2.77 billion, a P/E ratio of 25.02 and a beta of 0.49. New Jersey Resources Corp. has a 52-week low of $28.02 and a 52-week high of $38.92. The stock has a 50 day moving average of $33.49 and a 200 day moving average of $35.57.
New Jersey Resources Corp. (NYSE:NJR) last released its earnings results on Tuesday, August 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by $0.01. New Jersey Resources Corp. had a net margin of 5.88% and a return on equity of 11.43%. The business had revenue of $393.21 million for the quarter, compared to analyst estimates of $425.99 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The business’s revenue for the quarter was down 14.2% on a year-over-year basis. On average, equities research analysts forecast that New Jersey Resources Corp. will post $1.61 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 23rd were given a dividend of $0.24 per share. The ex-dividend date was Wednesday, September 21st. This represents a $0.96 dividend on an annualized basis and a yield of 2.99%. New Jersey Resources Corp.’s payout ratio is presently 76.80%.
A number of analysts recently commented on the stock. Argus reiterated a “buy” rating and issued a $42.00 target price on shares of New Jersey Resources Corp. in a report on Monday, June 20th. Zacks Investment Research upgraded shares of New Jersey Resources Corp. from a “sell” rating to a “hold” rating in a report on Saturday, June 25th. Finally, TheStreet downgraded shares of New Jersey Resources Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 31st. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $36.63.
About New Jersey Resources Corp.
New Jersey Resources Corporation (NJR) is an energy services holding company that provides retail and wholesale energy services to customers primarily in the Gulf Coast, Mid-Continent, Appalachian, Northeastern, and Western market areas of the United States, as well as Canada. The Company operates within four reportable business segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services and Midstream (formerly Energy Holdings).
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