Mutual of America Capital Management LLC Sells 1,701 Shares of NewJersey Resources Corporation $NJR

Mutual of America Capital Management LLC cut its stake in NewJersey Resources Corporation (NYSE:NJR) by 3.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,915 shares of the utilities provider’s stock after selling 1,701 shares during the period. Mutual of America Capital Management LLC’s holdings in NewJersey Resources were worth $2,237,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of NJR. Nuveen LLC bought a new stake in NewJersey Resources in the 1st quarter valued at $29,509,000. Jane Street Group LLC bought a new stake in NewJersey Resources in the 1st quarter valued at $8,907,000. Meiji Yasuda Asset Management Co Ltd. bought a new stake in NewJersey Resources in the 1st quarter valued at $6,834,000. Dimensional Fund Advisors LP lifted its holdings in shares of NewJersey Resources by 3.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,424,736 shares of the utilities provider’s stock worth $168,019,000 after acquiring an additional 115,570 shares during the period. Finally, Bragg Financial Advisors Inc lifted its holdings in shares of NewJersey Resources by 33.1% during the 1st quarter. Bragg Financial Advisors Inc now owns 463,948 shares of the utilities provider’s stock worth $22,761,000 after acquiring an additional 115,341 shares during the period. 70.98% of the stock is owned by institutional investors.

NewJersey Resources Trading Down 0.4%

Shares of NJR stock opened at $46.02 on Friday. NewJersey Resources Corporation has a 12-month low of $43.80 and a 12-month high of $51.94. The company has a market capitalization of $4.62 billion, a P/E ratio of 11.25 and a beta of 0.64. The firm has a 50-day moving average price of $46.81 and a 200 day moving average price of $46.61. The company has a quick ratio of 0.48, a current ratio of 0.76 and a debt-to-equity ratio of 1.25.

NewJersey Resources (NYSE:NJR) last posted its quarterly earnings data on Friday, May 19th. The utilities provider reported $1.36 earnings per share for the quarter. The firm had revenue of $912.32 million during the quarter. NewJersey Resources had a net margin of 19.64% and a return on equity of 17.08%. Research analysts forecast that NewJersey Resources Corporation will post 3.15 earnings per share for the current fiscal year.

NewJersey Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 22nd were given a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 4.1%. The ex-dividend date was Monday, September 22nd. This is a boost from NewJersey Resources’s previous quarterly dividend of $0.45. NewJersey Resources’s dividend payout ratio is 46.45%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NJR shares. Wall Street Zen raised shares of NewJersey Resources from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NewJersey Resources in a report on Saturday. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $50.00 price objective (up from $49.00) on shares of NewJersey Resources in a report on Friday, August 8th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock 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.