Deutsche Bank AG Has $5.51 Million Stock Position in New Jersey Resources Co. (NYSE:NJR)

Deutsche Bank AG reduced its position in New Jersey Resources Co. (NYSE:NJRFree Report) by 27.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 135,526 shares of the utilities provider’s stock after selling 51,760 shares during the period. Deutsche Bank AG owned 0.14% of New Jersey Resources worth $5,506,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Quarry LP acquired a new position in New Jersey Resources during the 2nd quarter worth approximately $38,000. Fifth Third Bancorp boosted its holdings in shares of New Jersey Resources by 68.0% in the 3rd quarter. Fifth Third Bancorp now owns 1,018 shares of the utilities provider’s stock valued at $41,000 after buying an additional 412 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its holdings in shares of New Jersey Resources by 2,500.0% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 1,040 shares of the utilities provider’s stock valued at $42,000 after buying an additional 1,000 shares during the last quarter. Intrepid Capital Management Inc. acquired a new stake in shares of New Jersey Resources in the 2nd quarter valued at approximately $43,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of New Jersey Resources by 71.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 914 shares of the utilities provider’s stock valued at $45,000 after buying an additional 380 shares during the last quarter. 73.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on NJR. Mizuho cut their price target on 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 upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th.

Read Our Latest Stock Analysis on NJR

New Jersey Resources Stock Performance

Shares of NJR stock opened at $41.79 on Friday. The business’s 50-day moving average price is $41.80 and its 200-day moving average price is $42.41. The company has a current ratio of 0.70, a quick ratio of 0.47 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 2.41 and a beta of 0.63. New Jersey Resources Co. has a 12 month low of $38.92 and a 12 month high of $55.84.

New Jersey Resources (NYSE:NJRGet Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The utilities provider reported $0.74 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 company had revenue of $467.20 million during the quarter, compared to analyst estimates of $812.66 million. During the same period in the prior year, the firm earned $1.14 earnings per share. New Jersey Resources’s revenue was down 35.4% compared to the same quarter last year. Equities research analysts forecast that New Jersey Resources Co. will post 2.89 EPS for the current year.

New Jersey Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Wednesday, March 13th will be issued 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 4.02%. New Jersey Resources’s dividend payout ratio is 68.85%.

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.

See Also

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

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