Centiva Capital LP acquired a new position in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,734 shares of the utilities provider's stock, valued at approximately $554,000.
Other hedge funds have also added to or reduced their stakes in the company. Cetera Advisors LLC purchased a new position in New Jersey Resources in the 1st quarter valued at approximately $312,000. GAMMA Investing LLC grew its position in shares of New Jersey Resources by 119.5% in the second quarter. GAMMA Investing LLC now owns 1,214 shares of the utilities provider's stock valued at $52,000 after purchasing an additional 661 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of New Jersey Resources by 3.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,840 shares of the utilities provider's stock valued at $378,000 after purchasing an additional 307 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in New Jersey Resources by 29.1% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 26,159 shares of the utilities provider's stock worth $1,118,000 after purchasing an additional 5,894 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new position in New Jersey Resources in the 2nd quarter worth about $31,000. Institutional investors own 70.98% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on NJR. JPMorgan Chase & Co. raised their price objective on shares of New Jersey Resources from $48.00 to $49.00 and gave the company a "neutral" rating in a research report on Thursday, August 15th. Guggenheim raised their price target on shares of New Jersey Resources from $46.00 to $49.00 and gave the company a "neutral" rating in a report on Wednesday, November 27th. Mizuho upped their price target on shares of New Jersey Resources from $45.00 to $47.00 and gave the stock a "neutral" rating in a report on Friday, September 20th. StockNews.com raised New Jersey Resources from a "sell" rating to a "hold" rating in a research note on Wednesday. Finally, Wells Fargo & Company upped their target price on New Jersey Resources from $51.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 27th. Five analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $49.75.
Check Out Our Latest Research Report on NJR
New Jersey Resources Price Performance
Shares of NJR traded down $0.62 during midday trading on Friday, reaching $49.18. The stock had a trading volume of 469,047 shares, compared to its average volume of 458,549. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 16.84 and a beta of 0.63. The company has a current ratio of 0.62, a quick ratio of 0.36 and a debt-to-equity ratio of 1.31. New Jersey Resources Co. has a 12-month low of $39.44 and a 12-month high of $51.94. The company's 50-day moving average is $47.59 and its 200 day moving average is $45.74.
New Jersey Resources (NYSE:NJR - Get Free Report) last issued 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. The business had revenue of $395.78 million for the quarter, compared to analysts' expectations of $406.97 million. New Jersey Resources had a net margin of 16.13% and a return on equity of 13.54%. The business's quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the business earned $0.30 earnings per share. On average, equities analysts predict that New Jersey Resources Co. will post 3.05 EPS for the current fiscal year.
New Jersey Resources Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be issued a dividend of $0.45 per share. The ex-dividend date is Wednesday, December 11th. This represents a $1.80 dividend on an annualized basis and a yield of 3.66%. New Jersey Resources's dividend payout ratio is presently 61.64%.
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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