Mitsubishi UFJ Trust & Banking Corp Sells 2,275 Shares of New Jersey Resources Co. (NYSE:NJR)

Mitsubishi UFJ Trust & Banking Corp decreased its position in New Jersey Resources Co. (NYSE:NJRGet Rating) by 48.4% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,425 shares of the utilities provider’s stock after selling 2,275 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in New Jersey Resources were worth $108,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Pictet Asset Management SA boosted its holdings in New Jersey Resources by 447.1% during the second quarter. Pictet Asset Management SA now owns 36,567 shares of the utilities provider’s stock worth $1,628,000 after purchasing an additional 29,883 shares during the last quarter. TIAA FSB acquired a new stake in shares of New Jersey Resources in the second quarter valued at about $251,000. Duality Advisers LP bought a new stake in New Jersey Resources during the second quarter worth about $1,745,000. Texas Permanent School Fund boosted its position in New Jersey Resources by 2.0% during the second quarter. Texas Permanent School Fund now owns 69,497 shares of the utilities provider’s stock valued at $3,095,000 after purchasing an additional 1,394 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its position in New Jersey Resources by 19.8% during the second quarter. Meeder Asset Management Inc. now owns 5,237 shares of the utilities provider’s stock valued at $233,000 after purchasing an additional 864 shares during the last quarter. Institutional investors and hedge funds own 73.94% of the company’s stock.

New Jersey Resources Stock Down 1.3 %

Shares of NJR opened at $49.25 on Thursday. The firm has a market cap of $4.75 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 3.31 and a beta of 0.62. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.42 and a current ratio of 0.68. New Jersey Resources Co. has a 52 week low of $36.77 and a 52 week high of $50.11. The firm’s 50-day simple moving average is $43.13 and its 200 day simple moving average is $44.26.

New Jersey Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Wednesday, December 14th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.17%. This is a positive change from New Jersey Resources’s previous quarterly dividend of $0.36. New Jersey Resources’s dividend payout ratio (DPR) is 54.55%.

Insider Buying and Selling

In other New Jersey Resources news, COO Patrick J. Migliaccio sold 3,000 shares of the company’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $49.16, for a total value of $147,480.00. Following the transaction, the chief operating officer now directly owns 40,169 shares of the company’s stock, valued at approximately $1,974,708.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.68% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NJR shares. StockNews.com cut New Jersey Resources from a “hold” rating to a “sell” rating in a research note on Friday, November 18th. TheStreet upgraded shares of New Jersey Resources from a “c+” rating to a “b” rating in a research note on Monday, August 29th. Guggenheim lowered their price objective on shares of New Jersey Resources from $41.00 to $40.00 in a research note on Monday, October 24th. Mizuho raised their target price on shares of New Jersey Resources from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, November 18th. Finally, JPMorgan Chase & Co. downgraded New Jersey Resources from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $47.00 to $46.00 in a research report on Friday, September 9th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $44.25.

New Jersey Resources Profile

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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

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

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