Chartist Inc. CA acquired a new stake in New Jersey Resources Corp (NYSE:NJR) during the first quarter, according to its most recent filing with the SEC. The firm acquired 19,642 shares of the utilities provider’s stock, valued at approximately $978,000. New Jersey Resources comprises about 0.8% of Chartist Inc. CA’s holdings, making the stock its 6th largest position.
Several other hedge funds and other institutional investors also recently modified their holdings of NJR. Martingale Asset Management L P raised its position in shares of New Jersey Resources by 30.1% during the first quarter. Martingale Asset Management L P now owns 246,937 shares of the utilities provider’s stock worth $12,296,000 after acquiring an additional 57,202 shares during the last quarter. Piedmont Investment Advisors Inc. purchased a new stake in New Jersey Resources in the 1st quarter valued at about $250,000. National Asset Management Inc. purchased a new stake in New Jersey Resources in the 1st quarter valued at about $344,000. New York State Common Retirement Fund boosted its position in New Jersey Resources by 2.3% in the 1st quarter. New York State Common Retirement Fund now owns 95,437 shares of the utilities provider’s stock valued at $4,752,000 after buying an additional 2,110 shares during the period. Finally, Great Lakes Advisors LLC boosted its position in New Jersey Resources by 22.1% in the 1st quarter. Great Lakes Advisors LLC now owns 9,007 shares of the utilities provider’s stock valued at $448,000 after buying an additional 1,633 shares during the period. Institutional investors own 66.15% of the company’s stock.
Separately, Zacks Investment Research cut shares of New Jersey Resources from a “buy” rating to a “hold” rating in a research report on Friday, April 26th.
In related news, Director David A. Trice sold 12,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $49.74, for a total transaction of $596,880.00. Following the sale, the director now owns 11,585 shares of the company’s stock, valued at $576,237.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David A. Trice sold 20,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $49.27, for a total value of $985,400.00. Following the completion of the sale, the director now directly owns 23,585 shares in the company, valued at approximately $1,162,032.95. The disclosure for this sale can be found here. Insiders have sold 38,068 shares of company stock worth $1,884,657 in the last three months. 1.30% of the stock is currently owned by company insiders.
NJR stock traded down $0.04 during trading on Friday, hitting $49.86. The company had a trading volume of 242,600 shares, compared to its average volume of 402,876. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.04 and a quick ratio of 0.91. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 18.20, a P/E/G ratio of 3.53 and a beta of 0.36. New Jersey Resources Corp has a fifty-two week low of $41.20 and a fifty-two week high of $51.83.
New Jersey Resources (NYSE:NJR) last announced its quarterly earnings results on Friday, May 3rd. The utilities provider reported $1.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.08. The business had revenue of $866.26 million for the quarter, compared to analyst estimates of $1.01 billion. New Jersey Resources had a return on equity of 8.73% and a net margin of 4.51%. New Jersey Resources’s quarterly revenue was down 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.62 EPS. On average, research analysts anticipate that New Jersey Resources Corp will post 2 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Friday, June 14th. New Jersey Resources’s dividend payout ratio is currently 42.70%.
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About New Jersey Resources
New Jersey Resources Corporation, an energy services holding company, provides regulated gas distribution, and retail and wholesale energy services. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Midstream segments. The Natural Gas Distribution segment offers regulated retail natural gas services to approximately 538,700 residential and commercial customers in central and northern New Jersey; provides storage management services; and participates in the off-system sales and capacity release markets.
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