Amundi Has $2.33 Million Position in NewJersey Resources Corporation $NJR

Amundi raised its stake in shares of NewJersey Resources Corporation (NYSE:NJR) by 605.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,868 shares of the utilities provider’s stock after buying an additional 40,220 shares during the period. Amundi’s holdings in NewJersey Resources were worth $2,330,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Nuveen LLC bought a new position in shares of NewJersey Resources during the 1st quarter valued at $29,509,000. Millennium Management LLC raised its holdings in shares of NewJersey Resources by 66.0% during the 4th quarter. Millennium Management LLC now owns 1,363,495 shares of the utilities provider’s stock valued at $63,607,000 after purchasing an additional 542,089 shares in the last quarter. Jane Street Group LLC bought a new position in shares of NewJersey Resources during the 1st quarter valued at $8,907,000. GAMMA Investing LLC raised its holdings in shares of NewJersey Resources by 6,150.4% during the 1st quarter. GAMMA Investing LLC now owns 143,010 shares of the utilities provider’s stock valued at $7,016,000 after purchasing an additional 140,722 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of NewJersey Resources by 67.6% during the 4th quarter. Point72 Asset Management L.P. now owns 305,102 shares of the utilities provider’s stock valued at $14,233,000 after purchasing an additional 123,100 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Transactions at NewJersey Resources

In related news, COO Patrick J. Migliaccio sold 1,500 shares of the business’s stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $44.22, for a total transaction of $66,330.00. Following the transaction, the chief operating officer directly owned 35,690 shares in the company, valued at $1,578,211.80. The trade was a 4.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.72% of the stock is owned by corporate insiders.

NewJersey Resources Stock Up 1.2%

NewJersey Resources stock opened at $47.44 on Friday. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 11.60 and a beta of 0.67. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.76 and a quick ratio of 0.48. NewJersey Resources Corporation has a fifty-two week low of $43.80 and a fifty-two week high of $51.94. The firm has a fifty day moving average price of $46.53 and a two-hundred day moving average price of $46.98.

NewJersey Resources (NYSE:NJR) last released its earnings results on Monday, August 4th. The utilities provider reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.12. The firm had revenue of $298.95 million during the quarter, compared to analyst estimates of $305.05 million. NewJersey Resources had a net margin of 19.64% and a return on equity of 17.08%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.09) EPS. As a group, analysts forecast that NewJersey Resources Corporation will post 3.15 earnings per share for the current year.

NewJersey Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 22nd will be given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 4.0%. This is a boost from NewJersey Resources’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, September 22nd. NewJersey Resources’s dividend payout ratio (DPR) is 44.01%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NJR shares. Wall Street Zen upgraded shares of NewJersey Resources from a “sell” rating to a “hold” rating in a report on Friday, August 22nd. Mizuho cut their price target on shares of NewJersey Resources from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, May 15th. Raymond James Financial restated an “outperform” rating and set a $50.00 price target (up previously from $49.00) on shares of NewJersey Resources in a report on Friday, August 8th. Finally, JPMorgan Chase & Co. cut their price target on shares of NewJersey Resources from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Wednesday, May 28th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, NewJersey Resources presently has a consensus rating of “Hold” and an average price target of $51.43.

NewJersey Resources Profile

New Jersey Resources Corporation, an energy services holding company, distributes natural gas. 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 576,000 customers in 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.