HBK Investments L P Purchases New Position in New Jersey Resources Corp (NJR)

HBK Investments L P purchased a new position in shares of New Jersey Resources Corp (NYSE:NJR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 22,200 shares of the utilities provider’s stock, valued at approximately $892,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in shares of New Jersey Resources by 1.4% during the 4th quarter. BlackRock Inc. now owns 11,659,855 shares of the utilities provider’s stock worth $468,727,000 after acquiring an additional 157,140 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of New Jersey Resources by 3.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,294,986 shares of the utilities provider’s stock worth $54,588,000 after acquiring an additional 47,748 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of New Jersey Resources by 3.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,272,665 shares of the utilities provider’s stock worth $53,642,000 after acquiring an additional 38,004 shares during the period. Geode Capital Management LLC lifted its holdings in shares of New Jersey Resources by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 704,091 shares of the utilities provider’s stock worth $28,304,000 after acquiring an additional 4,296 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of New Jersey Resources by 21.8% during the 4th quarter. First Trust Advisors LP now owns 613,451 shares of the utilities provider’s stock worth $24,661,000 after acquiring an additional 109,597 shares during the period. 64.13% of the stock is currently owned by institutional investors.

Several brokerages have recently weighed in on NJR. TheStreet upgraded shares of New Jersey Resources from a “c+” rating to a “b+” rating in a report on Monday, March 12th. ValuEngine upgraded shares of New Jersey Resources from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Bank of America restated a “neutral” rating on shares of New Jersey Resources in a report on Tuesday, February 27th. Guggenheim restated a “buy” rating and issued a $42.00 price target on shares of New Jersey Resources in a report on Friday, February 23rd. Finally, Zacks Investment Research upgraded shares of New Jersey Resources from a “hold” rating to a “strong-buy” rating and set a $44.00 price target on the stock in a report on Tuesday, February 13th. One analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $43.25.

In other news, VP Patrick J. Migliaccio sold 2,618 shares of New Jersey Resources stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $37.90, for a total transaction of $99,222.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.50% of the company’s stock.

NJR stock opened at $38.15 on Friday. New Jersey Resources Corp has a 1-year low of $35.55 and a 1-year high of $45.45. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.83 and a quick ratio of 0.62. The company has a market cap of $3,433.72, a P/E ratio of 15.02, a P/E/G ratio of 2.51 and a beta of 0.35.

New Jersey Resources (NYSE:NJR) last posted its quarterly earnings results on Thursday, February 8th. The utilities provider reported $1.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.97. New Jersey Resources had a net margin of 9.08% and a return on equity of 18.96%. The firm had revenue of $705.31 million for the quarter, compared to analyst estimates of $564.47 million. During the same quarter last year, the firm posted $0.47 earnings per share. New Jersey Resources’s revenue for the quarter was up 30.4% compared to the same quarter last year. equities analysts expect that New Jersey Resources Corp will post 2.6 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be issued a $0.2725 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.09 annualized dividend and a yield of 2.86%. New Jersey Resources’s payout ratio is 42.91%.

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About New Jersey Resources

New Jersey Resources Corporation is an energy services holding company. The Company’s business is the distribution of natural gas through a regulated utility, which provides other retail and wholesale energy services to customers and investing in clean energy projects and midstream assets. It operates in four business segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services and Midstream.

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Institutional Ownership by Quarter for New Jersey Resources (NYSE:NJR)

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