New Jersey Resources Co. (NYSE:NJR) Shares Acquired by Pacer Advisors Inc.

Pacer Advisors Inc. lifted its holdings in New Jersey Resources Co. (NYSE:NJR) by 52.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,251 shares of the utilities provider’s stock after buying an additional 7,950 shares during the period. Pacer Advisors Inc.’s holdings in New Jersey Resources were worth $994,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Neo Ivy Capital Management purchased a new position in New Jersey Resources in the 2nd quarter worth approximately $31,000. GAMMA Investing LLC increased 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 valued at $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 during the second quarter worth approximately $76,000. Ashton Thomas Private Wealth LLC acquired a new position in New Jersey Resources during the second quarter worth $94,000. Finally, Headlands Technologies LLC grew its holdings in 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 buying an additional 1,506 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

New Jersey Resources Stock Up 0.7 %

Shares of NYSE:NJR opened at $46.92 on Friday. The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of 18.55 and a beta of 0.59. New Jersey Resources Co. has a 12-month low of $38.92 and a 12-month high of $48.68. The business has a 50-day moving average price of $46.13 and a 200 day moving average price 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.

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

New Jersey Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 23rd will be given a $0.45 dividend. 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 dividend on an annualized basis and a yield of 3.84%. New Jersey Resources’s payout ratio is presently 71.15%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. StockNews.com upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a report on Sunday, September 22nd. Argus upgraded shares of New Jersey Resources to a “strong-buy” rating in a research report on Monday, June 10th. 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 report on Friday, September 20th. Finally, JPMorgan Chase & Co. raised their price target on shares of New Jersey Resources from $48.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th.

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.