Jump Financial LLC Reduces Stock Position in New Jersey Resources Co. (NYSE:NJR)

Jump Financial LLC trimmed its position in shares of New Jersey Resources Co. (NYSE:NJRFree Report) by 60.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,245 shares of the utilities provider’s stock after selling 19,049 shares during the quarter. Jump Financial LLC’s holdings in New Jersey Resources were worth $498,000 as of its most recent SEC filing.

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

New Jersey Resources Price Performance

New Jersey Resources stock opened at $41.28 on Friday. New Jersey Resources Co. has a 52-week low of $38.92 and a 52-week high of $55.84. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 2.29 and a beta of 0.63. The company has a fifty day simple moving average of $43.23 and a 200-day simple moving average of $42.73. The company has a quick ratio of 0.38, a current ratio of 0.70 and a debt-to-equity ratio of 1.33.

New Jersey Resources (NYSE:NJRGet Free Report) last released its earnings results on Tuesday, February 6th. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.15). New Jersey Resources had a return on equity of 11.13% and a net margin of 13.96%. The business had revenue of $467.20 million for the quarter, compared to analysts’ expectations of $812.66 million. During the same period in the previous year, the company earned $1.14 EPS. New Jersey Resources’s quarterly revenue was down 35.4% compared to the same quarter last year. On average, equities analysts anticipate that New Jersey Resources Co. will post 2.95 EPS for the current fiscal year.

New Jersey Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Wednesday, March 13th will be given a dividend of $0.42 per share. The ex-dividend date is Tuesday, March 12th. This represents a $1.68 annualized dividend and a dividend yield of 4.07%. New Jersey Resources’s payout ratio is 68.85%.

Wall Street Analysts Forecast Growth

NJR has been the subject of several recent analyst reports. Mizuho cut their price target on shares of New Jersey Resources from $47.00 to $45.00 and set a “neutral” rating for the company in a report on Monday, February 5th. StockNews.com raised shares of New Jersey Resources from a “sell” rating to a “hold” rating in a report on Wednesday.

View Our Latest Analysis on NJR

Insider Activity

In other news, COO Patrick J. Migliaccio sold 3,579 shares of the business’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $44.29, for a total transaction of $158,513.91. Following the transaction, the chief operating officer now owns 41,886 shares of the company’s stock, valued at approximately $1,855,130.94. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.75% of the company’s stock.

New Jersey Resources 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.

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

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