Louisiana State Employees Retirement System increased its position in NewJersey Resources Corporation (NYSE:NJR) by 3.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,500 shares of the utilities provider’s stock after buying an additional 700 shares during the period. Louisiana State Employees Retirement System’s holdings in NewJersey Resources Corporation were worth $893,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Capstone Asset Management Co. boosted its position in NewJersey Resources Corporation by 0.3% in the second quarter. Capstone Asset Management Co. now owns 7,218 shares of the utilities provider’s stock worth $287,000 after buying an additional 20 shares in the last quarter. LS Investment Advisors LLC boosted its position in NewJersey Resources Corporation by 0.5% in the first quarter. LS Investment Advisors LLC now owns 5,875 shares of the utilities provider’s stock worth $233,000 after buying an additional 32 shares in the last quarter. Creative Planning boosted its position in NewJersey Resources Corporation by 0.3% in the first quarter. Creative Planning now owns 13,267 shares of the utilities provider’s stock worth $525,000 after buying an additional 40 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in NewJersey Resources Corporation by 2.0% in the first quarter. Public Employees Retirement System of Ohio now owns 5,539 shares of the utilities provider’s stock worth $219,000 after buying an additional 111 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its position in NewJersey Resources Corporation by 0.3% in the first quarter. Municipal Employees Retirement System of Michigan now owns 39,900 shares of the utilities provider’s stock worth $1,580,000 after buying an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 65.03% of the company’s stock.
NewJersey Resources Corporation (NJR) opened at 43.05 on Friday. The stock’s 50 day moving average price is $41.61 and its 200 day moving average price is $40.43. NewJersey Resources Corporation has a 1-year low of $30.46 and a 1-year high of $44.30. The stock has a market capitalization of $3.73 billion, a PE ratio of 19.30 and a beta of 0.47.
NewJersey Resources Corporation (NYSE:NJR) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.19. NewJersey Resources Corporation had a return on equity of 12.77% and a net margin of 8.81%. The company had revenue of $457.52 million for the quarter, compared to analyst estimates of $410.24 million. During the same quarter last year, the firm earned $0.13 EPS. NewJersey Resources Corporation’s revenue for the quarter was up 16.4% compared to the same quarter last year. Equities research analysts forecast that NewJersey Resources Corporation will post $1.75 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 22nd will be issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Thursday, September 21st. NewJersey Resources Corporation’s payout ratio is presently 45.74%.
WARNING: This article was originally posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this article on another publication, it was copied illegally and reposted in violation of US and international copyright & trademark laws. The correct version of this article can be viewed at https://stocknewstimes.com/2017/08/19/newjersey-resources-corporation-njr-stake-boosted-by-louisiana-state-employees-retirement-system-updated-updated.html.
A number of equities analysts have weighed in on the company. BidaskClub cut NewJersey Resources Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Zacks Investment Research upgraded NewJersey Resources Corporation from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Tuesday, July 11th. Finally, Bank of America Corporation restated an “underperform” rating and issued a $35.00 price target (up previously from $32.00) on shares of NewJersey Resources Corporation in a report on Friday, May 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. NewJersey Resources Corporation currently has an average rating of “Buy” and a consensus target price of $38.80.
About NewJersey Resources Corporation
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.
Receive News & Ratings for NewJersey Resources Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NewJersey Resources Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
