Shell Asset Management Co. Has $309,000 Stock Holdings in New Jersey Resources Co. (NYSE:NJR)

Shell Asset Management Co. lessened its holdings in New Jersey Resources Co. (NYSE:NJRGet Rating) by 12.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,733 shares of the utilities provider’s stock after selling 996 shares during the period. Shell Asset Management Co.’s holdings in New Jersey Resources were worth $309,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. CWS Financial Advisors LLC boosted its position in shares of New Jersey Resources by 6.8% in the first quarter. CWS Financial Advisors LLC now owns 5,744 shares of the utilities provider’s stock worth $263,000 after buying an additional 364 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of 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 worth $886,000 after buying an additional 394 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of New Jersey Resources by 1.6% during the first quarter. Louisiana State Employees Retirement System now owns 25,200 shares of the utilities provider’s stock worth $1,179,000 after acquiring an additional 400 shares in the last quarter. Profund Advisors LLC raised its holdings in shares of New Jersey Resources by 4.2% during the fourth quarter. Profund Advisors LLC now owns 10,992 shares of the utilities provider’s stock worth $451,000 after acquiring an additional 438 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its holdings in shares of New Jersey Resources by 2.0% during the first quarter. Avantax Advisory Services Inc. now owns 23,764 shares of the utilities provider’s stock worth $1,095,000 after acquiring an additional 473 shares in the last quarter. Institutional investors and hedge funds own 72.01% of the company’s stock.

New Jersey Resources Price Performance

NYSE NJR opened at $44.69 on Friday. New Jersey Resources Co. has a fifty-two week low of $34.41 and a fifty-two week high of $47.50. The stock’s 50-day moving average is $44.43 and its two-hundred day moving average is $43.77. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.53. The firm has a market cap of $4.30 billion, a P/E ratio of 45.14, a price-to-earnings-growth ratio of 3.18 and a beta of 0.53.

New Jersey Resources (NYSE:NJRGet Rating) last posted its earnings results on Thursday, August 4th. The utilities provider reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.10). New Jersey Resources had a net margin of 3.79% and a return on equity of 11.06%. The company had revenue of $552.34 million for the quarter, compared to the consensus estimate of $418.65 million. During the same quarter last year, the business earned ($0.15) earnings per share. New Jersey Resources’s quarterly revenue was up 50.3% on a year-over-year basis. On average, analysts anticipate that New Jersey Resources Co. will post 2.37 earnings per share for the current fiscal year.

New Jersey Resources Cuts Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. TheStreet lowered New Jersey Resources from a “b” rating to a “c+” rating in a report on Wednesday, July 20th. Mizuho increased their price objective on New Jersey Resources from $42.00 to $45.00 in a report on Friday, April 29th. Finally, StockNews.com upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a report on Wednesday, May 18th.

Insider Buying and Selling at New Jersey Resources

In other 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 value of $121,722.50. Following the transaction, the chief operating officer now directly owns 36,016 shares in the company, 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.

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.

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)

Receive News & Ratings for New Jersey Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Jersey Resources and related companies with MarketBeat.com's FREE daily email newsletter.