New Jersey Resources Co. (NYSE:NJR) COO Sells $121,722.50 in Stock

New Jersey Resources Co. (NYSE:NJRGet Rating) COO Patrick J. Migliaccio sold 2,690 shares of the stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $45.25, for a total value of $121,722.50. Following the sale, the chief operating officer now owns 36,016 shares of the company’s stock, valued at $1,629,724. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shares of NYSE:NJR traded up $0.60 during midday trading on Monday, hitting $45.51. The company’s stock had a trading volume of 3,738 shares, compared to its average volume of 561,197. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 45.36, a PEG ratio of 3.21 and a beta of 0.56. The stock’s 50 day simple moving average is $44.91 and its 200 day simple moving average is $41.82. New Jersey Resources Co. has a fifty-two week low of $34.41 and a fifty-two week high of $47.50. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.53 and a current ratio of 0.63.

New Jersey Resources (NYSE:NJRGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.09. The company had revenue of $912.32 million for the quarter, compared to the consensus estimate of $877.88 million. New Jersey Resources had a return on equity of 11.06% and a net margin of 3.79%. The firm’s revenue was up 13.7% compared to the same quarter last year. During the same period last year, the business posted $1.77 earnings per share. As a group, analysts anticipate that New Jersey Resources Co. will post 2.36 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Wednesday, June 15th will be given a $0.363 dividend. This represents a $1.45 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Tuesday, June 14th. New Jersey Resources’s dividend payout ratio is currently 146.47%.

Several large investors have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of New Jersey Resources by 2.0% in the fourth quarter. BlackRock Inc. now owns 13,538,078 shares of the utilities provider’s stock valued at $555,874,000 after purchasing an additional 266,085 shares during the last quarter. Vanguard Group Inc. grew its position in New Jersey Resources by 1.0% during the first quarter. Vanguard Group Inc. now owns 10,757,330 shares of the utilities provider’s stock worth $493,331,000 after buying an additional 111,403 shares in the last quarter. State Street Corp grew its position in New Jersey Resources by 1.3% during the fourth quarter. State Street Corp now owns 8,887,445 shares of the utilities provider’s stock worth $368,042,000 after buying an additional 111,859 shares in the last quarter. Wellington Management Group LLP grew its position in New Jersey Resources by 22.6% during the first quarter. Wellington Management Group LLP now owns 3,203,151 shares of the utilities provider’s stock worth $146,897,000 after buying an additional 589,747 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in New Jersey Resources by 12.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,836,645 shares of the utilities provider’s stock worth $98,747,000 after buying an additional 320,328 shares in the last quarter. 72.01% of the stock is currently owned by institutional investors.

Several brokerages recently issued reports on NJR. Mizuho increased their price objective on New Jersey Resources from $42.00 to $45.00 in a report on Friday, April 29th. Zacks Investment Research lowered New Jersey Resources from a “buy” rating to a “hold” rating in a report on Saturday, May 14th. StockNews.com upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a report on Wednesday, May 18th. Finally, TheStreet upgraded New Jersey Resources from a “c+” rating to a “b” rating in a report on Monday, March 7th. One analyst has rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $42.67.

About New Jersey Resources (Get Rating)

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 Storage and Transportation. The Natural Gas Distribution segment offers regulated natural gas utility services to approximately 564,000 residential and commercial customers throughout 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.

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