Federated Hermes Inc. Sells 6,190 Shares of New Jersey Resources Co. (NYSE:NJR)

Federated Hermes Inc. trimmed its stake in New Jersey Resources Co. (NYSE:NJR) by 36.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,786 shares of the utilities provider’s stock after selling 6,190 shares during the period. Federated Hermes Inc.’s holdings in New Jersey Resources were worth $481,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. New York State Common Retirement Fund grew its position in shares of New Jersey Resources by 0.6% during the third quarter. New York State Common Retirement Fund now owns 39,224 shares of the utilities provider’s stock worth $1,594,000 after purchasing an additional 242 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in New Jersey Resources by 2.3% during the 4th quarter. Arkadios Wealth Advisors now owns 11,765 shares of the utilities provider’s stock worth $524,000 after purchasing an additional 265 shares during the period. Good Life Advisors LLC raised its holdings in shares of New Jersey Resources by 1.0% in the fourth quarter. Good Life Advisors LLC now owns 33,337 shares of the utilities provider’s stock valued at $1,486,000 after acquiring an additional 342 shares in the last quarter. Jacobi Capital Management LLC raised its holdings in shares of New Jersey Resources by 1.3% in the 3rd quarter. Jacobi Capital Management LLC now owns 27,937 shares of the utilities provider’s stock valued at $1,135,000 after purchasing an additional 371 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in New Jersey Resources by 1.4% in the third quarter. Arizona State Retirement System now owns 27,608 shares of the utilities provider’s stock worth $1,122,000 after buying an additional 394 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Mizuho decreased their target price on shares of New Jersey Resources from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, February 5th. StockNews.com raised New Jersey Resources from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th.

New Jersey Resources Price Performance

Shares of NYSE NJR opened at $44.70 on Friday. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 18.32 and a beta of 0.62. 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 firm’s 50 day simple moving average is $42.45 and its 200-day simple moving average is $42.60. New Jersey Resources Co. has a 12 month low of $38.92 and a 12 month high of $52.28.

New Jersey Resources (NYSE:NJR) last issued its quarterly earnings data 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 analyst estimates of $812.66 million. New Jersey Resources had a net margin of 13.96% and a return on equity of 11.13%. The firm’s revenue for the quarter was down 35.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.14 earnings per share. Analysts expect that New Jersey Resources Co. will post 2.94 EPS for the current year.

New Jersey Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Wednesday, June 12th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date is Wednesday, June 12th. New Jersey Resources’s payout ratio is 68.85%.

New Jersey Resources 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.