Strategy Asset Managers LLC Takes $310,000 Position in New Jersey Resources Co. (NYSE:NJR)

Strategy Asset Managers LLC bought a new stake in shares of New Jersey Resources Co. (NYSE:NJRGet Rating) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,769 shares of the utilities provider’s stock, valued at approximately $310,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in NJR. First National Bank of South Miami acquired a new position in New Jersey Resources during the fourth quarter valued at $25,000. Huntington National Bank acquired a new position in New Jersey Resources during the fourth quarter valued at $25,000. Godsey & Gibb Associates acquired a new position in New Jersey Resources during the fourth quarter valued at $29,000. Moors & Cabot Inc. acquired a new position in New Jersey Resources during the third quarter valued at $30,000. Finally, Shore Point Advisors LLC acquired a new position in New Jersey Resources during the fourth quarter valued at $35,000. 72.01% of the stock is owned by institutional investors and hedge funds.

In other New Jersey Resources news, COO Patrick J. Migliaccio sold 2,690 shares of the firm’s stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $45.25, for a total value of $121,722.50. Following the completion of the sale, the chief operating officer now owns 36,016 shares in the company, valued at approximately $1,629,724. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.68% of the stock is currently owned by company insiders.

Shares of NYSE:NJR opened at $42.69 on Thursday. The business has a 50 day moving average price of $44.78 and a 200 day moving average price of $42.80. New Jersey Resources Co. has a twelve month low of $34.41 and a twelve month high of $47.50. The company has a market cap of $4.10 billion, a price-to-earnings ratio of 43.12, a PEG ratio of 2.92 and a beta of 0.56. The company has a quick ratio of 0.53, a current ratio of 0.63 and a debt-to-equity ratio of 1.30.

New Jersey Resources (NYSE:NJRGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The utilities provider reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.09. New Jersey Resources had a return on equity of 11.06% and a net margin of 3.79%. The company had revenue of $912.32 million during the quarter, compared to the consensus estimate of $877.88 million. During the same quarter last year, the company earned $1.77 EPS. The company’s quarterly revenue was up 13.7% on a year-over-year basis. Analysts anticipate that New Jersey Resources Co. will post 2.36 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Wednesday, June 15th will be given a $0.363 dividend. The ex-dividend date is Tuesday, June 14th. This represents a $1.45 dividend on an annualized basis and a dividend yield of 3.40%. New Jersey Resources’s dividend payout ratio is currently 146.47%.

Several research analysts recently weighed in on the company. StockNews.com raised New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, May 18th. Mizuho upped their target price on New Jersey Resources from $42.00 to $45.00 in a research report on Friday, April 29th. Finally, TheStreet raised New Jersey Resources from a “c+” rating to a “b” rating in a research report on Monday, March 7th.

New Jersey Resources Profile (Get Rating)

New Jersey Resources Corporation, an energy services holding company, provides regulated gas distribution, and retail and wholesale energy services. 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 564,000 residential and commercial customers throughout 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.

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Institutional Ownership by Quarter for New Jersey Resources (NYSE:NJR)

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