Advisory Services Network LLC lifted its stake in shares of New Jersey Resources Corp (NYSE:NJR) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,101 shares of the utilities provider’s stock after buying an additional 289 shares during the quarter. Advisory Services Network LLC’s holdings in New Jersey Resources were worth $951,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the stock. Nvwm LLC acquired a new stake in New Jersey Resources during the 1st quarter valued at approximately $28,000. CX Institutional acquired a new stake in New Jersey Resources during the 1st quarter valued at approximately $32,000. Liberty Wealth Management LLC acquired a new stake in New Jersey Resources during the 4th quarter valued at approximately $81,000. Doyle Wealth Management acquired a new stake in New Jersey Resources during the 4th quarter valued at approximately $145,000. Finally, World Asset Management Inc acquired a new stake in New Jersey Resources during the 1st quarter valued at approximately $206,000. Institutional investors and hedge funds own 66.11% of the company’s stock.
A number of equities research analysts have weighed in on the company. Zacks Investment Research lowered GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a research note on Thursday, July 4th. Guggenheim upgraded New Jersey Resources from a “sell” rating to a “neutral” rating in a research report on Thursday.
Shares of NJR traded down $0.26 during mid-day trading on Friday, hitting $49.75. The stock had a trading volume of 238,536 shares, compared to its average volume of 330,787. The stock has a market capitalization of $4.44 billion, a P/E ratio of 18.16, a PEG ratio of 3.57 and a beta of 0.37. The company’s fifty day moving average price is $49.33. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.91 and a current ratio of 1.04. New Jersey Resources Corp has a fifty-two week low of $43.51 and a fifty-two week high of $51.83.
New Jersey Resources (NYSE:NJR) last issued its earnings results on Friday, May 3rd. The utilities provider reported $1.27 EPS for the quarter, topping the consensus estimate of $1.19 by $0.08. The company had revenue of $866.26 million during the quarter, compared to analyst estimates of $1.01 billion. New Jersey Resources had a return on equity of 8.73% and a net margin of 4.51%. The business’s revenue was down 15.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.62 EPS. On average, equities analysts anticipate that New Jersey Resources Corp will post 2 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 20th will be issued a $0.292 dividend. This represents a $1.17 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Thursday, September 19th. New Jersey Resources’s dividend payout ratio (DPR) is 42.70%.
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 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.
Further Reading: Book Value Per Share – BVPS
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