Ameritas Investment Partners Inc. Reduces Position in New Jersey Resources Co. (NYSE:NJR)

Ameritas Investment Partners Inc. decreased its holdings in shares of New Jersey Resources Co. (NYSE:NJR) by 1.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 46,162 shares of the utilities provider’s stock after selling 685 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in New Jersey Resources were worth $1,973,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Heritage Wealth Advisors bought a new position in New Jersey Resources in the 4th quarter valued at $31,000. Neo Ivy Capital Management purchased a new stake in shares of New Jersey Resources during the second quarter valued at $31,000. GAMMA Investing LLC grew its holdings 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 worth $52,000 after purchasing an additional 661 shares during the last quarter. International Assets Investment Management LLC purchased a new position in New Jersey Resources in the 2nd quarter worth about $76,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in New Jersey Resources during the 2nd quarter valued at about $94,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

New Jersey Resources Trading Down 0.1 %

NYSE NJR opened at $47.64 on Friday. New Jersey Resources Co. has a one year low of $38.92 and a one year high of $48.68. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.41 and a current ratio of 0.60. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 18.83 and a beta of 0.59. The company’s 50-day simple moving average is $46.02 and its two-hundred day simple moving average is $44.00.

New Jersey Resources (NYSE:NJR) last issued its quarterly earnings data on Tuesday, August 6th. The utilities provider reported ($0.09) earnings per share (EPS) 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 net margin of 13.61% and a return on equity of 11.06%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 earnings per share. Equities analysts forecast that New Jersey Resources Co. will post 2.95 EPS for the current fiscal year.

New Jersey Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 23rd will be paid a dividend of $0.45 per share. This is a boost 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%. The ex-dividend date of this dividend is Monday, September 23rd. New Jersey Resources’s dividend payout ratio is 71.15%.

Analyst Upgrades and Downgrades

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

Insider Activity at New Jersey Resources

In other New Jersey Resources news, CEO Stephen D. Westhoven sold 3,400 shares of the business’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, 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 completion of the sale, the chief executive officer now owns 168,705 shares in the company, valued at approximately $7,601,847.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Stephen D. Westhoven sold 3,400 shares of the business’s stock in a transaction 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 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 corporate 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.