New Jersey Resources Corp (NYSE:NJR) Shares Sold by State Treasurer State of Michigan

State Treasurer State of Michigan lowered its stake in New Jersey Resources Corp (NYSE:NJR) by 16.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,400 shares of the utilities provider’s stock after selling 5,200 shares during the period. State Treasurer State of Michigan’s holdings in New Jersey Resources were worth $1,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. 6 Meridian raised its position in New Jersey Resources by 2.1% in the 2nd quarter. 6 Meridian now owns 10,565 shares of the utilities provider’s stock valued at $526,000 after purchasing an additional 218 shares in the last quarter. Arizona State Retirement System raised its position in shares of New Jersey Resources by 0.3% during the 1st quarter. Arizona State Retirement System now owns 63,744 shares of the utilities provider’s stock worth $3,174,000 after acquiring an additional 221 shares in the last quarter. Advisory Services Network LLC raised its position in shares of New Jersey Resources by 1.5% during the 1st quarter. Advisory Services Network LLC now owns 19,101 shares of the utilities provider’s stock worth $951,000 after acquiring an additional 289 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of New Jersey Resources by 1.3% during the 1st quarter. Louisiana State Employees Retirement System now owns 23,800 shares of the utilities provider’s stock worth $1,185,000 after acquiring an additional 300 shares in the last quarter. Finally, AE Wealth Management LLC raised its position in shares of New Jersey Resources by 6.1% during the 2nd quarter. AE Wealth Management LLC now owns 6,228 shares of the utilities provider’s stock worth $310,000 after acquiring an additional 359 shares in the last quarter. 66.42% of the stock is currently owned by institutional investors.

Several equities research analysts have recently weighed in on NJR shares. Zacks Investment Research lowered New Jersey Resources from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Guggenheim raised New Jersey Resources from a “sell” rating to a “neutral” rating in a research report on Thursday, July 11th. Finally, ValuEngine lowered New Jersey Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th.

In other news, Director David A. Trice sold 12,000 shares of the firm’s stock in a transaction dated 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 approximately $576,237.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Shares of NYSE NJR opened at $44.88 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.88 and a debt-to-equity ratio of 0.77. New Jersey Resources Corp has a fifty-two week low of $43.51 and a fifty-two week high of $51.83. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 3.25 and a beta of 0.33. The stock’s 50-day simple moving average is $49.12.

New Jersey Resources (NYSE:NJR) last issued its earnings results on Tuesday, August 6th. The utilities provider reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.32). New Jersey Resources had a return on equity of 7.93% and a net margin of 4.90%. The business had revenue of $434.94 million for the quarter, compared to analyst estimates of $592.80 million. During the same period last year, the business posted ($0.09) EPS. New Jersey Resources’s revenue was down 20.0% on a year-over-year basis. On average, sell-side analysts forecast that New Jersey Resources Corp will post 2 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 20th will be given a dividend of $0.292 per share. This represents a $1.17 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Thursday, September 19th. New Jersey Resources’s dividend payout ratio (DPR) is presently 42.70%.

New Jersey Resources Company Profile

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

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