Cwm LLC Acquires 602 Shares of New Jersey Resources Co. (NYSE:NJR)

Cwm LLC grew its position in shares of New Jersey Resources Co. (NYSE:NJR) by 26.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,860 shares of the utilities provider’s stock after buying an additional 602 shares during the period. Cwm LLC’s holdings in New Jersey Resources were worth $135,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of NJR. Dimensional Fund Advisors LP grew its holdings in New Jersey Resources by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,956,772 shares of the utilities provider’s stock valued at $126,372,000 after buying an additional 154,441 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of New Jersey Resources by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 1,284,245 shares of the utilities provider’s stock worth $54,889,000 after purchasing an additional 40,094 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of New Jersey Resources by 1.0% in the first quarter. ProShare Advisors LLC now owns 917,203 shares of the utilities provider’s stock worth $39,357,000 after purchasing an additional 8,843 shares during the last quarter. AQR Capital Management LLC boosted its holdings in New Jersey Resources by 39.9% in the second quarter. AQR Capital Management LLC now owns 618,379 shares of the utilities provider’s stock valued at $26,430,000 after acquiring an additional 176,396 shares in the last quarter. Finally, Energy Income Partners LLC boosted its position in New Jersey Resources by 54.9% during the 1st quarter. Energy Income Partners LLC now owns 537,636 shares of the utilities provider’s stock valued at $23,070,000 after acquiring an additional 190,500 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on NJR. JPMorgan Chase & Co. boosted their target price on New Jersey Resources from $48.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. StockNews.com raised shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Sunday, September 22nd. Wells Fargo & Company boosted their price target on New Jersey Resources from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, Mizuho upped their target price on shares of New Jersey Resources from $45.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, New Jersey Resources has an average rating of “Hold” and a consensus target price of $49.00.

New Jersey Resources Trading Down 0.7 %

NJR stock opened at $46.42 on Friday. The firm has a market cap of $4.60 billion, a PE ratio of 19.42 and a beta of 0.59. The firm has a fifty day moving average price of $46.41 and a 200 day moving average price of $44.65. 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 Co. has a fifty-two week low of $39.44 and a fifty-two week high of $48.68.

New Jersey Resources (NYSE:NJR) last released its quarterly earnings results on Tuesday, August 6th. The utilities provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The company 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 EPS. Sell-side analysts anticipate that New Jersey Resources Co. will post 2.95 earnings per share for the current fiscal year.

New Jersey Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 23rd were given a dividend of $0.45 per share. This is an increase from New Jersey Resources’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.88%. New Jersey Resources’s dividend payout ratio is presently 75.31%.

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.