DekaBank Deutsche Girozentrale Sells 2,099 Shares of New Jersey Resources Co. (NYSE:NJR)

DekaBank Deutsche Girozentrale reduced its stake in New Jersey Resources Co. (NYSE:NJR) by 33.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,239 shares of the utilities provider’s stock after selling 2,099 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in New Jersey Resources were worth $181,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Heritage Wealth Advisors bought a new stake in shares of New Jersey Resources during the 4th quarter worth $31,000. Neo Ivy Capital Management acquired a new stake in shares of New Jersey Resources in the second quarter valued at about $31,000. GAMMA Investing LLC grew its position 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 acquired a new position in shares of New Jersey Resources during 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 approximately $94,000. Institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling at New Jersey Resources

In other news, CEO Stephen D. Westhoven sold 26,600 shares of the business’s 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 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Stephen D. Westhoven sold 26,600 shares of New Jersey Resources stock in a transaction that occurred 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 transaction, the chief executive officer now owns 168,705 shares in the company, valued at $7,601,847.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen D. Westhoven sold 3,400 shares of the business’s stock in a transaction that occurred 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 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. Company insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

NJR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on New Jersey Resources from $48.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Mizuho increased their price target on shares of New Jersey Resources from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Friday. Argus upgraded shares of New Jersey Resources to a “strong-buy” rating in a research report on Monday, June 10th. Finally, StockNews.com lowered shares of New Jersey Resources from a “hold” rating to a “sell” rating in a research report on Saturday, September 14th.

New Jersey Resources Stock Down 0.1 %

NJR opened at $47.64 on Friday. New Jersey Resources Co. has a fifty-two week low of $38.92 and a fifty-two week high of $48.68. The company has a market capitalization of $4.71 billion, a P/E ratio of 18.83 and a beta of 0.59. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.60 and a quick ratio of 0.41. The firm’s fifty day moving average price is $46.02 and its two-hundred day moving average price is $43.99.

New Jersey Resources (NYSE:NJR) last posted its 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). The business had revenue of $275.64 million during the quarter, compared to the consensus estimate 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 revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 EPS. On average, analysts anticipate that New Jersey Resources Co. will post 2.95 EPS for the current year.

New Jersey Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 23rd will be paid a $0.45 dividend. This is a positive change from New Jersey Resources’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $1.80 annualized dividend and a yield of 3.78%. New Jersey Resources’s payout ratio is currently 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.