Dimensional Fund Advisors LP increased its holdings in shares of New Jersey Resources Corp (NYSE:NJR) by 12.6% during the second quarter, HoldingsChannel reports. The firm owned 1,787,711 shares of the utilities provider’s stock after buying an additional 200,006 shares during the period. Dimensional Fund Advisors LP’s holdings in New Jersey Resources were worth $80,001,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in NJR. BlackRock Inc. boosted its stake in shares of New Jersey Resources by 2.8% during the second quarter. BlackRock Inc. now owns 11,764,741 shares of the utilities provider’s stock valued at $526,471,000 after purchasing an additional 323,801 shares in the last quarter. Retirement Systems of Alabama boosted its stake in shares of New Jersey Resources by 196.2% during the second quarter. Retirement Systems of Alabama now owns 335,605 shares of the utilities provider’s stock valued at $15,018,000 after purchasing an additional 222,318 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in shares of New Jersey Resources by 4,265.0% during the first quarter. Summit Trail Advisors LLC now owns 225,059 shares of the utilities provider’s stock valued at $225,000 after purchasing an additional 219,903 shares in the last quarter. James Investment Research Inc. purchased a new stake in New Jersey Resources during the second quarter valued at approximately $6,357,000. Finally, Martingale Asset Management L P lifted its position in New Jersey Resources by 154.1% during the second quarter. Martingale Asset Management L P now owns 167,448 shares of the utilities provider’s stock valued at $7,494,000 after acquiring an additional 101,537 shares during the last quarter. Hedge funds and other institutional investors own 66.43% of the company’s stock.
NYSE:NJR opened at $47.40 on Friday. New Jersey Resources Corp has a 52 week low of $35.55 and a 52 week high of $47.67. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.45 and a quick ratio of 1.16. The company has a market cap of $4.16 billion, a P/E ratio of 27.40, a PEG ratio of 2.54 and a beta of 0.19.
New Jersey Resources (NYSE:NJR) last posted its earnings results on Tuesday, August 7th. The utilities provider reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.11). New Jersey Resources had a net margin of 7.60% and a return on equity of 18.68%. The firm had revenue of $543.44 million for the quarter, compared to analysts’ expectations of $496.70 million. During the same period in the previous year, the company earned $0.20 EPS. equities analysts anticipate that New Jersey Resources Corp will post 2.65 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 21st will be given a dividend of $0.2725 per share. The ex-dividend date of this dividend is Thursday, September 20th. This represents a $1.09 dividend on an annualized basis and a yield of 2.30%. New Jersey Resources’s payout ratio is 63.01%.
A number of equities research analysts recently commented on the stock. Guggenheim cut shares of New Jersey Resources from a “buy” rating to a “neutral” rating in a research report on Monday, September 10th. They noted that the move was a valuation call. Zacks Investment Research raised shares of New Jersey Resources from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Thursday, August 9th. Bank of America cut shares of New Jersey Resources from a “neutral” rating to an “underperform” rating in a research report on Tuesday, June 5th. They noted that the move was a valuation call. ValuEngine cut shares of New Jersey Resources from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. Finally, Argus increased their target price on shares of New Jersey Resources from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, May 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. New Jersey Resources presently has a consensus rating of “Hold” and a consensus price target of $47.67.
New Jersey Resources Company Profile
New Jersey Resources Corporation, an energy services holding company, provides regulated gas distribution, and retail and wholesale energy services. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Midstream segments. The Natural Gas Distribution segment offers regulated retail natural gas services to approximately 529,800 residential and commercial customers in central and northern New Jersey; provides storage management services; and participates in the off-system sales and capacity release markets.
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