Commonwealth Equity Services LLC Raises Holdings in New Jersey Resources Corp (NJR)
Commonwealth Equity Services LLC boosted its position in shares of New Jersey Resources Corp (NYSE:NJR) by 5.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 29,978 shares of the utilities provider’s stock after acquiring an additional 1,489 shares during the quarter. Commonwealth Equity Services LLC’s holdings in New Jersey Resources were worth $1,369,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Bruderman Asset Management LLC boosted its holdings in shares of New Jersey Resources by 55.5% during the 4th quarter. Bruderman Asset Management LLC now owns 4,861 shares of the utilities provider’s stock worth $222,000 after purchasing an additional 1,735 shares during the last quarter. Texas Permanent School Fund boosted its holdings in shares of New Jersey Resources by 4.3% during the 4th quarter. Texas Permanent School Fund now owns 57,917 shares of the utilities provider’s stock worth $2,645,000 after purchasing an additional 2,373 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of New Jersey Resources by 4.5% during the 4th quarter. BlackRock Inc. now owns 12,547,617 shares of the utilities provider’s stock worth $573,052,000 after purchasing an additional 539,323 shares during the last quarter. Doyle Wealth Management acquired a new position in shares of New Jersey Resources during the 4th quarter worth approximately $145,000. Finally, Vaughan David Investments LLC IL boosted its holdings in shares of New Jersey Resources by 6.8% during the 4th quarter. Vaughan David Investments LLC IL now owns 9,400 shares of the utilities provider’s stock worth $429,000 after purchasing an additional 600 shares during the last quarter. 66.64% of the stock is owned by institutional investors.
In related news, Director M William Howard, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 11th. The stock was sold at an average price of $44.63, for a total value of $44,630.00. Following the transaction, the director now directly owns 18,713 shares in the company, valued at $835,161.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.30% of the company’s stock.
NJR opened at $49.85 on Friday. New Jersey Resources Corp has a one year low of $38.05 and a one year high of $51.83. The company has a market capitalization of $4.43 billion, a P/E ratio of 18.19, a price-to-earnings-growth ratio of 3.58 and a beta of 0.34. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.79 and a current ratio of 1.05.
New Jersey Resources (NYSE:NJR) last released its quarterly earnings data on Wednesday, February 6th. The utilities provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.08). New Jersey Resources had a net margin of 6.49% and a return on equity of 10.92%. The business had revenue of $811.77 million during the quarter, compared to analyst estimates of $712.00 million. During the same quarter in the prior year, the company posted $1.56 earnings per share. The company’s revenue was up 15.1% on a year-over-year basis. As a group, analysts anticipate that New Jersey Resources Corp will post 2.01 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be issued a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, March 14th. New Jersey Resources’s dividend payout ratio is presently 42.70%.
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New Jersey Resources Company Profile
New Jersey Resources Corporation, an energy services holding company, provides regulated gas distribution, and retail and wholesale energy services. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Midstream segments. The Natural Gas Distribution segment offers regulated retail natural gas services to approximately 538,700 residential and commercial customers in central and northern New Jersey; provides storage management services; and participates in the off-system sales and capacity release markets.
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