New Jersey Resources Co. (NYSE:NJR) Shares Sold by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. lessened its holdings in New Jersey Resources Co. (NYSE:NJR) by 83.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 657 shares of the utilities provider’s stock after selling 3,416 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in New Jersey Resources were worth $28,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of NJR. Ensign Peak Advisors Inc grew its position in New Jersey Resources by 47.1% during the 2nd quarter. Ensign Peak Advisors Inc now owns 49,563 shares of the utilities provider’s stock worth $2,118,000 after purchasing an additional 15,880 shares during the period. Sei Investments Co. grew its holdings in New Jersey Resources by 58.4% during the second quarter. Sei Investments Co. now owns 11,296 shares of the utilities provider’s stock worth $483,000 after acquiring an additional 4,166 shares during the period. Pacer Advisors Inc. raised its position in New Jersey Resources by 52.0% during the second quarter. Pacer Advisors Inc. now owns 23,251 shares of the utilities provider’s stock valued at $994,000 after acquiring an additional 7,950 shares in the last quarter. AE Wealth Management LLC lifted its holdings in New Jersey Resources by 197.7% in the second quarter. AE Wealth Management LLC now owns 15,992 shares of the utilities provider’s stock valued at $684,000 after acquiring an additional 10,621 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its position in New Jersey Resources by 10.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 155,658 shares of the utilities provider’s stock worth $6,653,000 after purchasing an additional 14,338 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

New Jersey Resources Stock Performance

NYSE:NJR opened at $46.86 on Wednesday. The company has a fifty day moving average of $46.19 and a two-hundred day moving average of $44.23. New Jersey Resources Co. has a fifty-two week low of $38.92 and a fifty-two week high of $48.68. The stock has a market capitalization of $4.63 billion, a PE ratio of 18.52 and a beta of 0.59. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.41 and a current ratio of 0.60.

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

New Jersey Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 23rd were issued 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 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend was Monday, September 23rd. New Jersey Resources’s payout ratio is currently 71.15%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of New Jersey Resources from $48.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. StockNews.com upgraded shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Sunday, September 22nd. Argus raised shares of New Jersey Resources to a “strong-buy” rating in a research note on Monday, June 10th. Finally, Mizuho lifted their price target on New Jersey Resources from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, September 20th.

Insiders Place Their Bets

In other New Jersey Resources news, CEO Stephen D. Westhoven sold 26,600 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 168,705 shares of the company’s stock, valued at approximately $7,601,847.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Stephen D. Westhoven sold 26,600 shares of the firm’s 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen D. Westhoven sold 3,400 shares of the company’s stock in a transaction that occurred 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 disclosure for this sale can be found here. 0.75% of the stock is currently 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.