Dimensional Fund Advisors LP Purchases 154,441 Shares of New Jersey Resources Co. (NYSE:NJR)

Dimensional Fund Advisors LP boosted its position in shares of New Jersey Resources Co. (NYSE:NJR) by 5.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,956,772 shares of the utilities provider’s stock after acquiring an additional 154,441 shares during the period. Dimensional Fund Advisors LP owned 2.99% of New Jersey Resources worth $126,372,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Heritage Wealth Advisors bought a new position in New Jersey Resources during the fourth quarter worth $31,000. Neo Ivy Capital Management bought a new position in shares of New Jersey Resources during the 2nd quarter worth about $31,000. GAMMA Investing LLC lifted its stake in shares of New Jersey Resources by 119.5% in the second quarter. GAMMA Investing LLC now owns 1,214 shares of the utilities provider’s stock valued at $52,000 after buying an additional 661 shares during the period. International Assets Investment Management LLC acquired a new stake in New Jersey Resources during the second quarter worth about $76,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in New Jersey Resources during the second quarter valued at about $94,000. 70.98% of the stock is owned by institutional investors and hedge funds.

New Jersey Resources Stock Performance

NJR stock opened at $47.64 on Monday. The company has a quick ratio of 0.41, a current ratio of 0.60 and a debt-to-equity ratio of 1.30. New Jersey Resources Co. has a twelve month low of $38.92 and a twelve month high of $48.68. The business’s fifty day moving average is $46.02 and its 200-day moving average is $44.01. The company has a market cap of $4.71 billion, a P/E ratio of 18.83 and a beta of 0.59.

New Jersey Resources (NYSE:NJR) last posted its earnings results on Tuesday, August 6th. The utilities provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The firm had revenue of $275.64 million during the quarter, compared to analyst estimates of $283.56 million. New Jersey Resources had a return on equity of 11.06% and a net margin of 13.61%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted $0.10 earnings per share. Equities research analysts forecast that New Jersey Resources Co. will post 2.95 EPS for the current year.

New Jersey Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 23rd will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, September 23rd. This is an increase from New Jersey Resources’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.78%. New Jersey Resources’s dividend payout ratio (DPR) is presently 71.15%.

Analyst Upgrades and Downgrades

NJR has been the topic of a number of recent research reports. Mizuho lifted their price target on shares of New Jersey Resources from $45.00 to $47.00 and gave the stock a “neutral” rating in a research note on Friday. JPMorgan Chase & Co. lifted their target price on shares of New Jersey Resources from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Argus raised shares of New Jersey Resources to a “strong-buy” rating in a research report on Monday, June 10th. Finally, StockNews.com raised New Jersey Resources from a “sell” rating to a “hold” rating in a report on Sunday.

Insider Activity at New Jersey Resources

In other news, CEO Stephen D. Westhoven sold 3,400 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $45.00, for a total value of $153,000.00. Following the sale, the chief executive officer now owns 195,305 shares of the company’s stock, valued at $8,788,725. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Stephen D. Westhoven sold 26,600 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $45.06, for a total value of $1,198,596.00. Following the completion of the sale, the chief executive officer now directly owns 168,705 shares in the company, valued at approximately $7,601,847.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen D. Westhoven sold 3,400 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $45.00, for a total value of $153,000.00. Following the transaction, the chief executive officer now directly owns 195,305 shares in the company, valued at approximately $8,788,725. The disclosure for this sale can be found here. 0.75% of the stock is owned by insiders.

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.