Teacher Retirement System of Texas Has $1.20 Million Stock Position in NewJersey Resources Corporation $NJR

Teacher Retirement System of Texas trimmed its stake in NewJersey Resources Corporation (NYSE:NJR) by 10.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,870 shares of the utilities provider’s stock after selling 3,145 shares during the quarter. Teacher Retirement System of Texas’ holdings in NewJersey Resources were worth $1,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in NJR. Nuveen LLC purchased a new stake in shares of NewJersey Resources in the first quarter worth approximately $29,509,000. Jane Street Group LLC purchased a new stake in shares of NewJersey Resources in the first quarter worth approximately $8,907,000. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of NewJersey Resources in the first quarter worth approximately $6,834,000. Dimensional Fund Advisors LP lifted its position in shares of NewJersey Resources by 3.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,424,736 shares of the utilities provider’s stock worth $168,019,000 after purchasing an additional 115,570 shares in the last quarter. Finally, Bragg Financial Advisors Inc lifted its position in shares of NewJersey Resources by 33.1% in the first quarter. Bragg Financial Advisors Inc now owns 463,948 shares of the utilities provider’s stock worth $22,761,000 after purchasing an additional 115,341 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

NewJersey Resources Trading Down 0.4%

Shares of NJR stock opened at $44.68 on Thursday. NewJersey Resources Corporation has a 12 month low of $43.46 and a 12 month high of $51.94. 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 business’s 50 day moving average is $46.44 and its two-hundred day moving average is $46.39. The company has a market cap of $4.49 billion, a PE ratio of 10.92 and a beta of 0.67.

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

NewJersey Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 22nd were issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 4.3%. This is a boost from NewJersey Resources’s previous quarterly dividend of $0.45. The ex-dividend date was Monday, September 22nd. NewJersey Resources’s dividend payout ratio is 46.45%.

Wall Street Analyst Weigh In

NJR has been the subject of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of NewJersey Resources in a research report on Wednesday, October 8th. Wall Street Zen raised shares of NewJersey Resources from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, 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 report on Friday, August 8th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus 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.