Trueblood Wealth Management LLC Purchases New Position in New Jersey Resources Co. (NYSE:NJR)

Trueblood Wealth Management LLC purchased a new stake in New Jersey Resources Co. (NYSE:NJR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,684 shares of the utilities provider’s stock, valued at approximately $253,000.

Several other large investors have also added to or reduced their stakes in NJR. State Street Corp lifted its position in New Jersey Resources by 11.8% in the 1st quarter. State Street Corp now owns 10,095,820 shares of the utilities provider’s stock valued at $540,987,000 after acquiring an additional 1,069,306 shares in the last quarter. Norges Bank bought a new position in New Jersey Resources in the 4th quarter valued at about $39,226,000. BlackRock Inc. lifted its position in shares of New Jersey Resources by 4.9% during the 2nd quarter. BlackRock Inc. now owns 16,327,934 shares of the utilities provider’s stock worth $770,678,000 after buying an additional 756,914 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of New Jersey Resources by 22.6% during the 1st quarter. Wellington Management Group LLP now owns 3,203,151 shares of the utilities provider’s stock worth $146,897,000 after buying an additional 589,747 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of New Jersey Resources by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 11,564,868 shares of the utilities provider’s stock worth $469,881,000 after buying an additional 373,802 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

New Jersey Resources Price Performance

New Jersey Resources stock opened at $42.91 on Friday. New Jersey Resources Co. has a 52 week low of $38.92 and a 52 week high of $55.84. The company’s 50 day moving average price is $41.76 and its two-hundred day moving average price is $42.42. The company has a quick ratio of 0.47, a current ratio of 0.70 and a debt-to-equity ratio of 1.33. The stock has a market cap of $4.22 billion, a P/E ratio of 17.59 and a beta of 0.63.

New Jersey Resources (NYSE:NJR) last issued its quarterly earnings results on Tuesday, February 6th. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $812.66 million. During the same quarter in the previous year, the business earned $1.14 EPS. The company’s revenue for the quarter was down 35.4% on a year-over-year basis. On average, equities analysts predict that New Jersey Resources Co. will post 2.94 earnings per share for the current year.

New Jersey Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Wednesday, March 13th will be paid 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 3.92%. New Jersey Resources’s payout ratio is currently 68.85%.

Analyst Ratings Changes

NJR has been the topic of several recent analyst reports. StockNews.com raised shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th. Mizuho dropped their target price on shares of New Jersey Resources from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, February 5th.

New Jersey Resources Company Profile

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.