NewJersey Resources Corporation $NJR Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC boosted its holdings in NewJersey Resources Corporation (NYSE:NJR) by 3.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 60,108 shares of the utilities provider’s stock after acquiring an additional 2,249 shares during the period. Intech Investment Management LLC owned 0.06% of NewJersey Resources worth $2,949,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC lifted its stake in shares of NewJersey Resources by 42.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 839 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 248 shares during the last quarter. Xponance Inc. raised its holdings in NewJersey Resources by 1.9% in the 1st quarter. Xponance Inc. now owns 15,310 shares of the utilities provider’s stock valued at $751,000 after buying an additional 288 shares during the period. Good Life Advisors LLC lifted its position in NewJersey Resources by 1.0% in the first quarter. Good Life Advisors LLC now owns 34,976 shares of the utilities provider’s stock valued at $1,716,000 after buying an additional 333 shares during the last quarter. Choreo LLC boosted its stake in NewJersey Resources by 4.1% during the first quarter. Choreo LLC now owns 9,404 shares of the utilities provider’s stock worth $465,000 after buying an additional 372 shares during the period. Finally, Federated Hermes Inc. increased its position in shares of NewJersey Resources by 3.9% during the first quarter. Federated Hermes Inc. now owns 10,093 shares of the utilities provider’s stock valued at $495,000 after acquiring an additional 378 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insiders Place Their Bets

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $44.22, for a total transaction of $66,330.00. Following the sale, the chief operating officer owned 35,690 shares of the company’s stock, valued at approximately $1,578,211.80. This trade represents a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is currently owned by insiders.

NewJersey Resources Price Performance

Shares of NJR opened at $47.16 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.48 and a debt-to-equity ratio of 1.25. The firm’s fifty day simple moving average is $46.57 and its 200-day simple moving average is $46.97. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of 11.53 and a beta of 0.67. NewJersey Resources Corporation has a twelve month low of $43.80 and a twelve month high of $51.94.

NewJersey Resources (NYSE:NJR) last posted its earnings results on Monday, August 4th. The utilities provider reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.12. The firm had revenue of $298.95 million for the quarter, compared to analyst estimates of $305.05 million. NewJersey Resources had a return on equity of 17.08% and a net margin of 19.64%.NewJersey Resources’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.09) earnings per share. Equities analysts forecast that NewJersey Resources Corporation will post 3.15 EPS for the current fiscal year.

NewJersey Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 22nd will be given a dividend of $0.475 per share. 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. This represents a $1.90 annualized dividend and a dividend yield of 4.0%. NewJersey Resources’s dividend payout ratio is 44.01%.

Analysts Set New Price Targets

NJR has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of NewJersey Resources from a “sell” rating to a “hold” rating in a report on Saturday. JPMorgan Chase & Co. decreased their price target on NewJersey Resources from $56.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 28th. Finally, Raymond James Financial restated an “outperform” rating and set a $50.00 price target (up from $49.00) on shares of NewJersey Resources in a research report on Friday, August 8th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, NewJersey Resources currently has an average rating of “Hold” and a consensus 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.