South Dakota Investment Council Has $1.33 Million Stock Position in New Jersey Resources Co. (NYSE:NJR)

South Dakota Investment Council decreased its stake in shares of New Jersey Resources Co. (NYSE:NJRFree Report) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,697 shares of the utilities provider’s stock after selling 400 shares during the quarter. South Dakota Investment Council’s holdings in New Jersey Resources were worth $1,328,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Arizona State Retirement System increased its position in shares of New Jersey Resources by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 27,608 shares of the utilities provider’s stock worth $1,122,000 after purchasing an additional 394 shares during the last quarter. California Public Employees Retirement System increased its position in shares of New Jersey Resources by 12.2% during the 3rd quarter. California Public Employees Retirement System now owns 481,190 shares of the utilities provider’s stock worth $19,551,000 after purchasing an additional 52,405 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of New Jersey Resources by 1.2% during the 3rd quarter. Principal Financial Group Inc. now owns 387,114 shares of the utilities provider’s stock worth $15,728,000 after purchasing an additional 4,619 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of New Jersey Resources during the 3rd quarter worth approximately $829,000. Finally, Fifth Third Bancorp increased its position in shares of New Jersey Resources by 68.0% during the 3rd quarter. Fifth Third Bancorp now owns 1,018 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 412 shares during the last quarter. Institutional investors and hedge funds own 73.08% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. StockNews.com assumed coverage on New Jersey Resources in a research report on Thursday, October 5th. They set a “sell” rating on the stock. Mizuho reduced their target price on New Jersey Resources from $49.00 to $47.00 and set a “neutral” rating for the company in a research note on Monday, November 20th. Finally, Guggenheim reduced their target price on New Jersey Resources from $47.00 to $42.00 in a research note on Monday, October 9th.

Get Our Latest Research Report on NJR

Insider Activity at New Jersey Resources

In related news, COO Patrick J. Migliaccio sold 3,579 shares of the business’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $44.29, for a total value of $158,513.91. Following the completion of the sale, the chief operating officer now directly owns 41,886 shares in the company, valued at approximately $1,855,130.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.75% of the stock is currently owned by corporate insiders.

New Jersey Resources Stock Performance

Shares of NYSE NJR opened at $41.46 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.38 and a debt-to-equity ratio of 1.39. New Jersey Resources Co. has a 12 month low of $38.92 and a 12 month high of $55.84. The stock has a 50 day moving average of $43.43 and a 200-day moving average of $42.96. The company has a market capitalization of $4.05 billion, a P/E ratio of 15.24, a P/E/G ratio of 2.46 and a beta of 0.64.

New Jersey Resources (NYSE:NJRGet Free Report) last issued its earnings results on Tuesday, November 21st. The utilities provider reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The company had revenue of $331.30 million during the quarter, compared to the consensus estimate of $759.99 million. New Jersey Resources had a return on equity of 13.24% and a net margin of 13.49%. The firm’s revenue for the quarter was down 56.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 EPS. As a group, equities research analysts predict that New Jersey Resources Co. will post 2.77 EPS for the current year.

New Jersey Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Wednesday, March 13th will be paid a $0.42 dividend. The ex-dividend date is Tuesday, March 12th. This represents a $1.68 annualized dividend and a yield of 4.05%. New Jersey Resources’s dividend payout ratio (DPR) is presently 61.76%.

New Jersey Resources Company Profile

(Free Report)

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.

See Also

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

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