New Jersey Resources Co. (NYSE:NJR) Shares Purchased by AlphaQuest LLC

AlphaQuest LLC lifted its holdings in New Jersey Resources Co. (NYSE:NJR - Free Report) by 82.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 71,825 shares of the utilities provider's stock after purchasing an additional 32,456 shares during the quarter. New Jersey Resources comprises 0.4% of AlphaQuest LLC's holdings, making the stock its 6th biggest position. AlphaQuest LLC owned approximately 0.07% of New Jersey Resources worth $3,351,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in shares of New Jersey Resources by 1.5% in the third quarter. Geode Capital Management LLC now owns 2,366,381 shares of the utilities provider's stock valued at $111,714,000 after buying an additional 34,782 shares during the period. Charles Schwab Investment Management Inc. lifted its position in New Jersey Resources by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,267,456 shares of the utilities provider's stock valued at $59,127,000 after acquiring an additional 39,641 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in New Jersey Resources by 8.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,211,702 shares of the utilities provider's stock worth $56,526,000 after purchasing an additional 96,393 shares during the period. JPMorgan Chase & Co. boosted its stake in New Jersey Resources by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 609,199 shares of the utilities provider's stock worth $28,754,000 after purchasing an additional 86,742 shares during the period. Finally, Segall Bryant & Hamill LLC increased its holdings in New Jersey Resources by 4.4% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 422,000 shares of the utilities provider's stock worth $19,918,000 after purchasing an additional 17,664 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Remove Ads

New Jersey Resources Stock Up 3.2 %

Shares of NYSE:NJR traded up $1.49 during midday trading on Tuesday, reaching $48.60. The company had a trading volume of 850,003 shares, compared to its average volume of 554,818. New Jersey Resources Co. has a 1-year low of $40.62 and a 1-year high of $51.94. The stock has a market cap of $4.87 billion, a PE ratio of 14.64 and a beta of 0.57. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 1.29. The business's 50 day moving average price is $46.93 and its 200 day moving average price is $47.14.

New Jersey Resources (NYSE:NJR - Get Free Report) last posted its quarterly earnings results on Monday, February 3rd. The utilities provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.15. New Jersey Resources had a return on equity of 15.72% and a net margin of 18.25%. During the same quarter last year, the business posted $0.74 EPS. Research analysts forecast that New Jersey Resources Co. will post 3.15 EPS for the current fiscal year.

New Jersey Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend is Tuesday, March 11th. New Jersey Resources's dividend payout ratio is currently 54.22%.

Insider Activity

In related news, COO Patrick J. Migliaccio sold 4,983 shares of the business's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $46.00, for a total transaction of $229,218.00. Following the transaction, the chief operating officer now directly owns 37,124 shares of the company's stock, valued at approximately $1,707,704. The trade was a 11.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NJR shares. JPMorgan Chase & Co. cut their price target on New Jersey Resources from $54.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. StockNews.com upgraded New Jersey Resources from a "sell" rating to a "hold" rating in a research note on Tuesday, February 4th. Guggenheim upped their price target on New Jersey Resources from $53.00 to $54.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company lifted their price objective on shares of New Jersey Resources from $51.00 to $54.00 and gave the company an "equal weight" rating in a report on Wednesday, November 27th. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $51.75.

New Jersey Resources Company Profile

New Jersey Resources Corporation, an energy services holding company, distributes natural gas. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Storage and Transportation. The Natural Gas Distribution segment offers regulated natural gas utility services to approximately 576,000 customers in Burlington, Middlesex, Monmouth, Morris, Ocean, and Sussex counties in New Jersey; provides capacity and storage management services; and participates in the off-system sales and capacity release markets.