Farther Finance Advisors LLC Buys 551 Shares of NewJersey Resources Corporation $NJR

Farther Finance Advisors LLC boosted its position in shares of NewJersey Resources Corporation (NYSE:NJR) by 29.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,410 shares of the utilities provider’s stock after acquiring an additional 551 shares during the period. Farther Finance Advisors LLC’s holdings in NewJersey Resources were worth $108,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Crews Bank & Trust purchased a new position in NewJersey Resources during the first quarter valued at approximately $37,000. Hexagon Capital Partners LLC grew its stake in NewJersey Resources by 42.0% during the first quarter. Hexagon Capital Partners LLC now owns 839 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 248 shares in the last quarter. Brooklyn Investment Group grew its stake in NewJersey Resources by 1,715.4% during the first quarter. Brooklyn Investment Group now owns 1,416 shares of the utilities provider’s stock valued at $69,000 after acquiring an additional 1,338 shares in the last quarter. UMB Bank n.a. grew its stake in NewJersey Resources by 107.9% during the first quarter. UMB Bank n.a. now owns 1,744 shares of the utilities provider’s stock valued at $86,000 after acquiring an additional 905 shares in the last quarter. Finally, WASHINGTON TRUST Co purchased a new position in NewJersey Resources during the first quarter valued at approximately $117,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

NewJersey Resources Stock Down 0.1%

Shares of NYSE NJR opened at $46.99 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.48 and a debt-to-equity ratio of 1.25. NewJersey Resources Corporation has a 12 month low of $43.80 and a 12 month high of $51.94. The firm has a market capitalization of $4.72 billion, a PE ratio of 11.49 and a beta of 0.64. The firm has a fifty day simple moving average of $46.93 and a two-hundred day simple moving average of $46.86.

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

NewJersey Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 22nd were paid a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Monday, September 22nd. This is a positive change from NewJersey Resources’s previous quarterly dividend of $0.45. NewJersey Resources’s dividend payout ratio (DPR) is 46.45%.

Wall Street Analysts Forecast Growth

NJR has been the subject of several recent analyst reports. Raymond James Financial reaffirmed an “outperform” rating and set a $50.00 price objective (up previously from $49.00) on shares of NewJersey Resources in a research note on Friday, August 8th. Wall Street Zen raised shares of NewJersey Resources from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of NewJersey Resources in a research note on Saturday, September 27th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, NewJersey Resources currently has a consensus rating of “Hold” and a consensus target price of $51.43.

NewJersey Resources Company 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.