Barclays PLC increased its holdings in New Jersey Resources Co. (NYSE:NJR - Free Report) by 140.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 189,827 shares of the utilities provider's stock after acquiring an additional 110,723 shares during the period. Barclays PLC owned approximately 0.19% of New Jersey Resources worth $8,959,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in New Jersey Resources in the third quarter valued at $27,000. FSA Wealth Management LLC acquired a new position in shares of New Jersey Resources during the 3rd quarter worth approximately $27,000. Van ECK Associates Corp acquired a new position in New Jersey Resources in the 3rd quarter valued at $52,000. Spirit of America Management Corp NY grew its stake in shares of New Jersey Resources by 140.0% during the 3rd quarter. Spirit of America Management Corp NY now owns 1,200 shares of the utilities provider's stock valued at $57,000 after buying an additional 700 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in New Jersey Resources during the 2nd quarter worth $76,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.
New Jersey Resources Stock Performance
Shares of NYSE:NJR traded down $2.12 on Wednesday, hitting $45.40. 537,383 shares of the company were exchanged, compared to its average volume of 491,779. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 15.55 and a beta of 0.63. The company's 50 day moving average price is $47.85 and its two-hundred day moving average price is $46.01. New Jersey Resources Co. has a one year low of $39.44 and a one year high of $51.94. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.36 and a current ratio of 0.62.
New Jersey Resources (NYSE:NJR - Get Free Report) last released its quarterly earnings results on Monday, November 25th. The utilities provider reported $0.89 EPS for the quarter, meeting analysts' consensus estimates of $0.89. New Jersey Resources had a net margin of 16.13% and a return on equity of 13.54%. The firm had revenue of $395.78 million for the quarter, compared to analyst estimates of $406.97 million. During the same period in the previous year, the business earned $0.30 earnings per share. The company's revenue for the quarter was up 19.5% compared to the same quarter last year. Research analysts expect that New Jersey Resources Co. will post 3.1 earnings per share for the current year.
New Jersey Resources Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Wednesday, December 11th. New Jersey Resources's payout ratio is presently 61.64%.
Analyst Ratings Changes
NJR has been the subject of several recent analyst reports. JPMorgan Chase & Co. upgraded New Jersey Resources from a "neutral" rating to an "overweight" rating and raised their target price for the company from $52.00 to $54.00 in a research note on Thursday, December 12th. Mizuho lifted their price target on New Jersey Resources from $45.00 to $47.00 and gave the company a "neutral" rating in a report on Friday, September 20th. StockNews.com upgraded shares of New Jersey Resources from a "sell" rating to a "hold" rating in a research report on Wednesday, December 4th. Wells Fargo & Company lifted their price objective on shares of New Jersey Resources from $51.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 27th. Finally, Guggenheim lifted their target price on shares of New Jersey Resources from $46.00 to $49.00 and gave the company a "neutral" rating in a research note on Wednesday, November 27th. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $51.00.
Get Our Latest Report on NJR
New Jersey Resources Company Profile
(
Free Report)
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.
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