BB&T Securities LLC held its position in New Jersey Resources Corp (NYSE:NJR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,500 shares of the utilities provider’s stock at the end of the second quarter. BB&T Securities LLC owned approximately 0.09% of New Jersey Resources Corp worth $3,037,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of NJR. BlackRock Inc. boosted its position in New Jersey Resources Corp by 4,920.6% in the first quarter. BlackRock Inc. now owns 11,662,464 shares of the utilities provider’s stock valued at $461,831,000 after buying an additional 11,430,170 shares during the period. State Street Corp boosted its position in New Jersey Resources Corp by 14.6% in the first quarter. State Street Corp now owns 7,351,830 shares of the utilities provider’s stock valued at $291,138,000 after buying an additional 938,056 shares during the period. Goldman Sachs Group Inc. boosted its position in New Jersey Resources Corp by 38.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,102,931 shares of the utilities provider’s stock valued at $122,876,000 after buying an additional 860,703 shares during the period. Citadel Advisors LLC boosted its position in New Jersey Resources Corp by 289.4% in the first quarter. Citadel Advisors LLC now owns 699,760 shares of the utilities provider’s stock valued at $27,710,000 after buying an additional 520,047 shares during the period. Finally, Vanguard Group Inc. boosted its position in New Jersey Resources Corp by 6.3% in the first quarter. Vanguard Group Inc. now owns 8,262,024 shares of the utilities provider’s stock valued at $327,176,000 after buying an additional 491,794 shares during the period. Hedge funds and other institutional investors own 65.03% of the company’s stock.
Shares of New Jersey Resources Corp (NYSE NJR) opened at 43.70 on Wednesday. The firm’s 50-day moving average is $41.71 and its 200-day moving average is $40.51. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 19.59 and a beta of 0.47. New Jersey Resources Corp has a 12-month low of $30.46 and a 12-month high of $44.30.
New Jersey Resources Corp (NYSE:NJR) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.19. New Jersey Resources Corp had a net margin of 3.47% and a return on equity of 5.92%. The company had revenue of $457.52 million during the quarter, compared to analyst estimates of $410.24 million. During the same period in the prior year, the business posted $0.13 EPS. The firm’s revenue was up 16.4% compared to the same quarter last year. Analysts predict that New Jersey Resources Corp will post $1.75 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 22nd will be issued a dividend of $0.255 per share. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $1.02 dividend on an annualized basis and a yield of 2.33%. New Jersey Resources Corp’s dividend payout ratio is currently 45.74%.
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NJR has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of New Jersey Resources Corp from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Tuesday, July 11th. Bank of America Corporation reaffirmed an “underperform” rating and set a $35.00 target price (up previously from $32.00) on shares of New Jersey Resources Corp in a report on Friday, May 19th. Finally, BidaskClub lowered shares of New Jersey Resources Corp from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. New Jersey Resources Corp currently has a consensus rating of “Buy” and a consensus price target of $38.80.
New Jersey Resources Corp Company Profile
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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