Symons Capital Management Inc. Has $482,000 Stake in New Jersey Resources Corp (NJR)

Symons Capital Management Inc. continued to hold its position in shares of New Jersey Resources Corp (NYSE:NJR) during the first quarter, Holdings Channel reports. The institutional investor owned 12,180 shares of the utilities provider’s stock at the end of the first quarter. Symons Capital Management Inc.’s holdings in New Jersey Resources Corp were worth $482,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NJR. New York State Common Retirement Fund increased its position in shares of New Jersey Resources Corp by 3.2% in the third quarter. New York State Common Retirement Fund now owns 154,614 shares of the utilities provider’s stock valued at $5,081,000 after buying an additional 4,800 shares during the last quarter. Teachers Advisors LLC increased its position in shares of New Jersey Resources Corp by 0.6% in the third quarter. Teachers Advisors LLC now owns 150,051 shares of the utilities provider’s stock valued at $4,931,000 after buying an additional 880 shares during the last quarter. BlackRock Group LTD increased its position in shares of New Jersey Resources Corp by 0.9% in the third quarter. BlackRock Group LTD now owns 116,745 shares of the utilities provider’s stock valued at $3,837,000 after buying an additional 1,093 shares during the last quarter. RobecoSam USA Inc. increased its position in shares of New Jersey Resources Corp by 63.3% in the third quarter. RobecoSam USA Inc. now owns 24,500 shares of the utilities provider’s stock valued at $805,000 after buying an additional 9,500 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in shares of New Jersey Resources Corp by 0.8% in the third quarter. California State Teachers Retirement System now owns 181,859 shares of the utilities provider’s stock valued at $5,976,000 after buying an additional 1,500 shares during the last quarter. 60.26% of the stock is currently owned by institutional investors.

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

Shares of New Jersey Resources Corp (NYSE:NJR) traded up 0.37% on Friday, reaching $40.40. 303,540 shares of the company’s stock traded hands. The stock has a market capitalization of $3.49 billion, a PE ratio of 22.17 and a beta of 0.43. New Jersey Resources Corp has a 52 week low of $30.46 and a 52 week high of $42.65. The company has a 50 day moving average of $40.23 and a 200-day moving average of $37.42.

New Jersey Resources Corp (NYSE:NJR) last released its quarterly earnings results on Friday, May 5th. The utilities provider reported $1.21 EPS for the quarter, topping the consensus estimate of $1.00 by $0.21. The business had revenue of $733.55 million during the quarter, compared to analyst estimates of $617.10 million. New Jersey Resources Corp had a net margin of 5.88% and a return on equity of 10.71%. The company’s quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 earnings per share. Equities research analysts forecast that New Jersey Resources Corp will post $1.73 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th will be given a dividend of $0.255 per share. The ex-dividend date is Tuesday, June 13th. This represents a $1.02 annualized dividend and a dividend yield of 2.53%. New Jersey Resources Corp’s dividend payout ratio is currently 76.69%.

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Several research analysts have issued reports on NJR shares. Zacks Investment Research raised shares of New Jersey Resources Corp from a “sell” rating to a “hold” rating in a research report on Saturday, February 11th. Bank of America Corp reissued an “underperform” rating and set a $35.00 price objective (up from $32.00) on shares of New Jersey Resources Corp in a research report on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $37.60.

In other news, Director Jane M. Kenny sold 3,000 shares of the company’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $39.43, for a total transaction of $118,290.00. Following the completion of the transaction, the director now owns 12,031 shares in the company, valued at $474,382.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

About New Jersey Resources Corp

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.

12 Month Chart for NYSE:NJR

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