Man Group plc cut its stake in New Jersey Resources Corp (NYSE:NJR) by 90.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,284 shares of the utilities provider’s stock after selling 328,810 shares during the period. Man Group plc’s holdings in New Jersey Resources were worth $1,551,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in NJR. CWM LLC raised its holdings in New Jersey Resources by 2,317.4% in the 3rd quarter. CWM LLC now owns 556 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 533 shares in the last quarter. AllSquare Wealth Management LLC acquired a new position in shares of New Jersey Resources during the 3rd quarter worth $36,000. Executive Wealth Management LLC acquired a new position in shares of New Jersey Resources during the 2nd quarter worth $45,000. Coastal Investment Advisors Inc. raised its holdings in shares of New Jersey Resources by 84.2% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 921 shares of the utilities provider’s stock worth $45,000 after buying an additional 421 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC acquired a new position in shares of New Jersey Resources during the 2nd quarter worth $45,000. 67.57% of the stock is owned by hedge funds and other institutional investors.
Shares of NJR opened at $43.55 on Friday. New Jersey Resources Corp has a 12-month low of $40.32 and a 12-month high of $51.20. The business has a 50-day simple moving average of $42.63 and a two-hundred day simple moving average of $45.89. The company has a quick ratio of 0.73, a current ratio of 1.15 and a debt-to-equity ratio of 0.99. The stock has a market cap of $3.93 billion, a PE ratio of 22.33, a PEG ratio of 2.50 and a beta of 0.30.
New Jersey Resources (NYSE:NJR) last issued its earnings results on Tuesday, November 19th. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.29. New Jersey Resources had a return on equity of 11.31% and a net margin of 6.54%. The business had revenue of $479.08 million during the quarter, compared to analysts’ expectations of $694.50 million. During the same quarter in the prior year, the firm earned ($0.33) EPS. The business’s revenue for the quarter was down 26.0% compared to the same quarter last year. On average, equities research analysts expect that New Jersey Resources Corp will post 2.15 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Thursday, December 19th will be issued a $0.313 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Wednesday, December 18th. This is a boost from New Jersey Resources’s previous quarterly dividend of $0.29. New Jersey Resources’s dividend payout ratio is presently 64.10%.
NJR has been the subject of a number of research analyst reports. ValuEngine cut New Jersey Resources from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Zacks Investment Research raised New Jersey Resources from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, TheStreet cut New Jersey Resources from a “b-” rating to a “c+” rating in a report on Thursday, October 17th.
About New Jersey Resources
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 538,700 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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