NewJersey Resources Corporation $NJR Shares Purchased by Allianz Asset Management GmbH

Allianz Asset Management GmbH increased its position in shares of NewJersey Resources Corporation (NYSE:NJR) by 19.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 150,352 shares of the utilities provider’s stock after acquiring an additional 24,126 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.15% of NewJersey Resources worth $6,739,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of NJR. GAMMA Investing LLC boosted its position in NewJersey Resources by 27.4% during the first quarter. GAMMA Investing LLC now owns 2,915 shares of the utilities provider’s stock worth $143,000 after acquiring an additional 627 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in NewJersey Resources by 8.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,228 shares of the utilities provider’s stock worth $551,000 after acquiring an additional 881 shares during the last quarter. State of Alaska Department of Revenue boosted its position in NewJersey Resources by 3.8% during the first quarter. State of Alaska Department of Revenue now owns 11,741 shares of the utilities provider’s stock worth $576,000 after acquiring an additional 430 shares during the last quarter. Retirement Systems of Alabama boosted its position in NewJersey Resources by 1.2% during the first quarter. Retirement Systems of Alabama now owns 122,064 shares of the utilities provider’s stock worth $5,988,000 after acquiring an additional 1,484 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in NewJersey Resources by 154.2% during the first quarter. Oppenheimer & Co. Inc. now owns 12,885 shares of the utilities provider’s stock worth $632,000 after acquiring an additional 7,817 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

NewJersey Resources Stock Performance

NYSE:NJR opened at $46.14 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.48 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of 11.28 and a beta of 0.64. The firm’s fifty day simple moving average is $46.85 and its 200 day simple moving average is $46.62. NewJersey Resources Corporation has a twelve month low of $43.80 and a twelve month high of $51.94.

NewJersey Resources (NYSE:NJR) last posted its earnings results on Friday, May 19th. The utilities provider reported $1.36 earnings per share for the quarter. The business had revenue of $912.32 million for the quarter. NewJersey Resources had a net margin of 19.64% and a return on equity of 17.08%. As a group, equities research analysts expect that NewJersey Resources Corporation will post 3.15 earnings per share for the current fiscal year.

NewJersey Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 22nd were issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Monday, September 22nd. This is a positive change from NewJersey Resources’s previous quarterly dividend of $0.45. NewJersey Resources’s dividend payout ratio (DPR) is presently 46.45%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NJR shares. Weiss Ratings reiterated a “hold (c)” rating on shares of NewJersey Resources in a report on Wednesday, October 8th. Wall Street Zen lowered shares of NewJersey Resources from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $50.00 price target (up previously from $49.00) on shares of NewJersey Resources in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, NewJersey Resources currently has an average rating of “Hold” and a consensus price target of $51.43.

About NewJersey Resources

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.