SG Americas Securities LLC Cuts Stock Position in New Jersey Resources Co. (NYSE:NJR)

SG Americas Securities LLC lessened its stake in New Jersey Resources Co. (NYSE:NJRGet Rating) by 67.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 9,178 shares of the utilities provider’s stock after selling 19,253 shares during the quarter. SG Americas Securities LLC’s holdings in New Jersey Resources were worth $421,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC grew its stake in New Jersey Resources by 1.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 21,584 shares of the utilities provider’s stock valued at $886,000 after purchasing an additional 394 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in New Jersey Resources by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 25,200 shares of the utilities provider’s stock valued at $1,179,000 after purchasing an additional 400 shares during the last quarter. Profund Advisors LLC grew its stake in New Jersey Resources by 4.2% in the fourth quarter. Profund Advisors LLC now owns 10,992 shares of the utilities provider’s stock valued at $451,000 after purchasing an additional 438 shares during the last quarter. Avantax Advisory Services Inc. grew its stake in New Jersey Resources by 2.0% in the first quarter. Avantax Advisory Services Inc. now owns 23,764 shares of the utilities provider’s stock valued at $1,095,000 after purchasing an additional 473 shares during the last quarter. Finally, Keybank National Association OH boosted its holdings in New Jersey Resources by 8.8% in the first quarter. Keybank National Association OH now owns 5,901 shares of the utilities provider’s stock worth $271,000 after acquiring an additional 475 shares in the last quarter. Hedge funds and other institutional investors own 72.01% of the company’s stock.

Insider Buying and Selling

In related news, COO Patrick J. Migliaccio sold 2,690 shares of New Jersey Resources stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $45.25, for a total transaction of $121,722.50. Following the completion of the sale, the chief operating officer now owns 36,016 shares of the company’s stock, valued at $1,629,724. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NJR. StockNews.com raised New Jersey Resources from a “sell” rating to a “hold” rating in a report on Wednesday, May 18th. Mizuho raised their price target on New Jersey Resources from $42.00 to $45.00 in a report on Friday, April 29th. Finally, TheStreet downgraded New Jersey Resources from a “b” rating to a “c+” rating in a report on Wednesday, July 20th.

New Jersey Resources Trading Down 2.3 %

New Jersey Resources stock opened at $44.69 on Friday. 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 Co. has a 52 week low of $34.41 and a 52 week high of $47.50. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of 45.14, a price-to-earnings-growth ratio of 3.18 and a beta of 0.53. The stock has a 50-day moving average price of $44.43 and a 200 day moving average price of $43.77.

New Jersey Resources (NYSE:NJRGet Rating) last released its earnings results on Thursday, August 4th. The utilities provider reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.10). New Jersey Resources had a return on equity of 11.06% and a net margin of 3.79%. The firm had revenue of $552.34 million for the quarter, compared to analyst estimates of $418.65 million. During the same period last year, the firm earned ($0.15) EPS. The company’s revenue for the quarter was up 50.3% compared to the same quarter last year. Sell-side analysts anticipate that New Jersey Resources Co. will post 2.37 EPS for the current year.

New Jersey Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 26th will be issued a dividend of $0.3625 per share. This represents a $1.45 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Friday, September 23rd. New Jersey Resources’s dividend payout ratio (DPR) is 146.47%.

New Jersey Resources Company 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.

See Also

Want to see what other hedge funds are holding NJR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for New Jersey Resources Co. (NYSE:NJRGet Rating).

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

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