8,979 Shares in New Jersey Resources Co. (NYSE:NJR) Purchased by Intech Investment Management LLC

Intech Investment Management LLC bought a new stake in New Jersey Resources Co. (NYSE:NJR) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 8,979 shares of the utilities provider’s stock, valued at approximately $384,000.

Other institutional investors have also recently bought and sold shares of the company. Neo Ivy Capital Management bought a new position in shares of New Jersey Resources during the 2nd quarter worth approximately $31,000. GAMMA Investing LLC increased its stake in New Jersey Resources by 119.5% in the 2nd 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 last quarter. International Assets Investment Management LLC bought a new stake in New Jersey Resources during the 2nd quarter worth about $76,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of New Jersey Resources during the 2nd quarter worth about $94,000. Finally, Headlands Technologies LLC grew its holdings in shares of New Jersey Resources by 215.5% in the 2nd quarter. Headlands Technologies LLC now owns 2,205 shares of the utilities provider’s stock valued at $94,000 after acquiring an additional 1,506 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on NJR. Argus raised New Jersey Resources to a “strong-buy” rating in a research report on Monday, June 10th. Mizuho increased their price objective on New Jersey Resources from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Friday, September 20th. StockNews.com upgraded shares of New Jersey Resources from a “sell” rating to a “hold” rating in a report on Sunday, September 22nd. Finally, JPMorgan Chase & Co. increased 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 note on Thursday, August 15th.

New Jersey Resources Stock Performance

Shares of NYSE NJR opened at $46.92 on Friday. New Jersey Resources Co. has a 12 month low of $38.92 and a 12 month high of $48.68. The stock has a 50 day moving average of $46.13 and a 200-day moving average of $44.11. The company has a current ratio of 0.60, a quick ratio of 0.41 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $4.64 billion, a P/E ratio of 18.55 and a beta of 0.59.

New Jersey Resources (NYSE:NJR) last released its quarterly earnings data on Tuesday, August 6th. The utilities provider reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). The company had revenue of $275.64 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm earned $0.10 earnings per share. As a group, equities research analysts predict that New Jersey Resources Co. will post 2.95 EPS for the current year.

New Jersey Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 23rd will be given 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 annualized dividend and a yield of 3.84%. New Jersey Resources’s dividend payout ratio (DPR) is 71.15%.

Insider Transactions at New Jersey Resources

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

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.