AE Wealth Management LLC Grows Stake in New Jersey Resources Co. (NYSE:NJR)

AE Wealth Management LLC boosted its position in shares of New Jersey Resources Co. (NYSE:NJR) by 197.7% during the second quarter, Holdings Channel reports. The firm owned 15,992 shares of the utilities provider’s stock after buying an additional 10,621 shares during the quarter. AE Wealth Management LLC’s holdings in New Jersey Resources were worth $684,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in New Jersey Resources by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 11,897,288 shares of the utilities provider’s stock valued at $530,381,000 after acquiring an additional 332,420 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of New Jersey Resources by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,956,772 shares of the utilities provider’s stock valued at $126,372,000 after purchasing an additional 154,441 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of New Jersey Resources by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 1,284,245 shares of the utilities provider’s stock valued at $54,889,000 after purchasing an additional 40,094 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of New Jersey Resources by 1.0% during the 1st quarter. ProShare Advisors LLC now owns 917,203 shares of the utilities provider’s stock worth $39,357,000 after purchasing an additional 8,843 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of New Jersey Resources by 12.7% during the 4th quarter. Wellington Management Group LLP now owns 819,693 shares of the utilities provider’s stock worth $36,542,000 after purchasing an additional 92,152 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Activity at New Jersey Resources

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

Analyst Upgrades and Downgrades

NJR has been the topic of a number of analyst reports. Argus upgraded New Jersey Resources to a “strong-buy” rating in a report on Monday, June 10th. JPMorgan Chase & Co. lifted their price objective on New Jersey Resources from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Mizuho boosted their target price on shares of New Jersey Resources from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Finally, StockNews.com raised shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research note on Sunday.

New Jersey Resources Trading Down 0.2 %

Shares of New Jersey Resources stock opened at $46.91 on Thursday. New Jersey Resources Co. has a fifty-two week low of $38.92 and a fifty-two week high of $48.68. The business’s fifty day moving average is $46.12 and its two-hundred day moving average is $44.09. 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 firm has a market cap of $4.64 billion, a PE ratio of 18.54 and a beta of 0.59.

New Jersey Resources (NYSE:NJR) last released 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 business had revenue of $275.64 million for the quarter, compared to analysts’ expectations of $283.56 million. New Jersey Resources had a return on equity of 11.06% and a net margin of 13.61%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 earnings per share. Analysts anticipate that New Jersey Resources Co. will post 2.95 earnings per share for the current year.

New Jersey Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 23rd will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.84%. This is an increase from New Jersey Resources’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, September 23rd. New Jersey Resources’s payout ratio is presently 71.15%.

About New Jersey Resources

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.