Claro Advisors LLC Decreases Stock Position in New Jersey Resources Co. (NYSE:NJR)

Claro Advisors LLC lessened its stake in New Jersey Resources Co. (NYSE:NJRFree Report) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,137 shares of the utilities provider’s stock after selling 419 shares during the quarter. Claro Advisors LLC’s holdings in New Jersey Resources were worth $586,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in New Jersey Resources by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 11,564,868 shares of the utilities provider’s stock worth $469,881,000 after acquiring an additional 373,802 shares during the period. SG Americas Securities LLC purchased a new position in New Jersey Resources in the 3rd quarter worth approximately $1,738,000. Inspire Investing LLC raised its position in shares of New Jersey Resources by 13.6% in the 3rd quarter. Inspire Investing LLC now owns 7,555 shares of the utilities provider’s stock valued at $307,000 after purchasing an additional 906 shares in the last quarter. HighTower Advisors LLC raised its position in shares of New Jersey Resources by 56.3% in the 3rd quarter. HighTower Advisors LLC now owns 24,112 shares of the utilities provider’s stock valued at $980,000 after purchasing an additional 8,681 shares in the last quarter. Finally, Mattern Capital Management LLC raised its position in shares of New Jersey Resources by 22.0% in the 3rd quarter. Mattern Capital Management LLC now owns 163,683 shares of the utilities provider’s stock valued at $6,650,000 after purchasing an additional 29,492 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Mizuho dropped their price target on 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. StockNews.com raised New Jersey Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th.

View Our Latest Research Report on NJR

New Jersey Resources Stock Up 1.3 %

NJR opened at $42.91 on Monday. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.70 and a quick ratio of 0.47. The company has a market capitalization of $4.22 billion, a PE ratio of 17.59 and a beta of 0.64. The business has a 50-day moving average of $41.81 and a 200-day moving average of $42.43. New Jersey Resources Co. has a fifty-two week low of $38.92 and a fifty-two week high of $55.84.

New Jersey Resources (NYSE:NJRGet Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The utilities provider reported $0.74 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.15). The business had revenue of $467.20 million during the quarter, compared to the consensus estimate of $812.66 million. New Jersey Resources had a return on equity of 11.13% and a net margin of 13.96%. The business’s quarterly revenue was down 35.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.14 earnings per share. Equities research analysts forecast that New Jersey Resources Co. will post 2.94 EPS for the current fiscal year.

New Jersey Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Wednesday, March 13th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, March 12th. This represents a $1.68 dividend on an annualized basis and a yield of 3.92%. New Jersey Resources’s dividend payout ratio is presently 68.85%.

About New Jersey Resources

(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.

Further Reading

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

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