New Jersey Resources Co. (NYSE:NJR) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its holdings in shares of New Jersey Resources Co. (NYSE:NJR) by 3.4% in the 2nd quarter, Holdings Channel reports. The firm owned 56,581 shares of the utilities provider’s stock after selling 1,991 shares during the period. Mutual of America Capital Management LLC’s holdings in New Jersey Resources were worth $2,418,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NJR. Norges Bank acquired a new stake in New Jersey Resources during the fourth quarter valued at approximately $33,403,000. UBS Group AG lifted its position in shares of New Jersey Resources by 66.2% in the 4th quarter. UBS Group AG now owns 201,401 shares of the utilities provider’s stock valued at $8,978,000 after acquiring an additional 80,219 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of New Jersey Resources by 17.9% in the 4th quarter. Corient Private Wealth LLC now owns 61,872 shares of the utilities provider’s stock valued at $2,758,000 after acquiring an additional 9,404 shares in the last quarter. Advisory Services Network LLC lifted its position in shares of New Jersey Resources by 3.3% in the 4th quarter. Advisory Services Network LLC now owns 38,522 shares of the utilities provider’s stock valued at $1,717,000 after acquiring an additional 1,228 shares in the last quarter. Finally, Heritage Wealth Advisors purchased a new stake in shares of New Jersey Resources in the 4th quarter valued at approximately $31,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at New Jersey Resources

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

New Jersey Resources Stock Down 0.7 %

NJR stock opened at $47.01 on Wednesday. New Jersey Resources Co. has a 12-month low of $38.92 and a 12-month high of $48.68. The company has a quick ratio of 0.41, a current ratio of 0.60 and a debt-to-equity ratio of 1.30. The company has a market cap of $4.65 billion, a price-to-earnings ratio of 18.58 and a beta of 0.59. The company has a 50 day moving average of $46.10 and a two-hundred day moving average of $44.07.

New Jersey Resources (NYSE:NJR) last released its earnings results on Tuesday, August 6th. The utilities provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). New Jersey Resources had a return on equity of 11.06% and a net margin of 13.61%. The company had revenue of $275.64 million during the quarter, compared to analysts’ expectations of $283.56 million. During the same quarter in the previous year, the company earned $0.10 EPS. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities analysts anticipate that New Jersey Resources Co. will post 2.95 earnings per share for the current fiscal year.

New Jersey Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 23rd will be paid a dividend of $0.45 per share. This is a positive change from New Jersey Resources’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, September 23rd. This represents a $1.80 annualized dividend and a dividend yield of 3.83%. New Jersey Resources’s dividend payout ratio is 71.15%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NJR. Argus upgraded shares of New Jersey Resources to a “strong-buy” rating in a research report on Monday, June 10th. Mizuho upped their price target on shares of New Jersey Resources from $45.00 to $47.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. StockNews.com upgraded shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, JPMorgan Chase & Co. upped their price target 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.

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.