Cwm LLC Raises Holdings in NewJersey Resources Corporation $NJR

Cwm LLC grew its position in shares of NewJersey Resources Corporation (NYSE:NJR) by 26.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,010 shares of the utilities provider’s stock after buying an additional 1,038 shares during the period. Cwm LLC’s holdings in NewJersey Resources were worth $225,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in NewJersey Resources by 8.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,228 shares of the utilities provider’s stock worth $551,000 after purchasing an additional 881 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in NewJersey Resources by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 232,427 shares of the utilities provider’s stock worth $11,403,000 after purchasing an additional 4,770 shares in the last quarter. GAMMA Investing LLC lifted its holdings in NewJersey Resources by 27.4% during the 1st quarter. GAMMA Investing LLC now owns 2,915 shares of the utilities provider’s stock worth $143,000 after purchasing an additional 627 shares in the last quarter. Horizon Investment Services LLC purchased a new stake in NewJersey Resources during the 1st quarter worth about $298,000. Finally, Amundi lifted its holdings in NewJersey Resources by 605.0% during the 1st quarter. Amundi now owns 46,868 shares of the utilities provider’s stock worth $2,330,000 after purchasing an additional 40,220 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

NewJersey Resources Price Performance

Shares of NYSE NJR opened at $45.46 on Wednesday. The firm has a market capitalization of $4.57 billion, a P/E ratio of 11.11 and a beta of 0.64. The company has a quick ratio of 0.48, a current ratio of 0.76 and a debt-to-equity ratio of 1.25. The stock’s 50-day simple moving average is $46.77 and its two-hundred day simple moving average is $46.58. NewJersey Resources Corporation has a twelve month low of $43.80 and a twelve month high of $51.94.

NewJersey Resources (NYSE:NJR) last announced its earnings results on Friday, May 19th. The utilities provider reported $1.36 earnings per share for the quarter. The business had revenue of $912.32 million for the quarter. NewJersey Resources had a return on equity of 17.08% and a net margin of 19.64%. As a group, equities analysts anticipate that NewJersey Resources Corporation will post 3.15 EPS for the current fiscal year.

NewJersey Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 22nd were 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 was Monday, September 22nd. This represents a $1.90 annualized dividend and a dividend yield of 4.2%. NewJersey Resources’s dividend payout ratio is currently 46.45%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of NewJersey Resources in a report on Wednesday, October 8th. Raymond James Financial reissued an “outperform” rating and set a $50.00 price objective (up previously from $49.00) on shares of NewJersey Resources in a report on Friday, August 8th. Finally, Wall Street Zen raised NewJersey Resources from a “sell” rating to a “hold” rating in a report on Saturday. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.