JPMorgan Chase & Co. Lowers Holdings in NewJersey Resources Corporation (NJR)
JPMorgan Chase & Co. trimmed its stake in NewJersey Resources Corporation (NYSE:NJR) by 6.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 347,815 shares of the utilities provider’s stock after selling 22,629 shares during the period. JPMorgan Chase & Co. owned 0.40% of NewJersey Resources worth $14,712,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in NJR. Griffin Asset Management Inc. bought a new position in shares of NewJersey Resources in the 2nd quarter worth $4,466,000. Vanguard Group Inc. raised its position in shares of NewJersey Resources by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 8,361,117 shares of the utilities provider’s stock worth $331,937,000 after acquiring an additional 99,093 shares in the last quarter. WINTON GROUP Ltd raised its position in shares of NewJersey Resources by 102.3% in the 2nd quarter. WINTON GROUP Ltd now owns 185,985 shares of the utilities provider’s stock worth $7,384,000 after acquiring an additional 94,056 shares in the last quarter. Chicago Equity Partners LLC bought a new position in shares of NewJersey Resources in the 2nd quarter worth $3,670,000. Finally, Thrivent Financial For Lutherans raised its position in shares of NewJersey Resources by 33.5% in the 2nd quarter. Thrivent Financial For Lutherans now owns 333,240 shares of the utilities provider’s stock worth $13,230,000 after acquiring an additional 83,660 shares in the last quarter. 63.59% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Amanda Mullan sold 920 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $44.64, for a total transaction of $41,068.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lawrence R. Codey sold 6,000 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $43.13, for a total value of $258,780.00. Following the transaction, the director now directly owns 13,266 shares in the company, valued at $572,162.58. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
NewJersey Resources Corporation (NYSE:NJR) opened at $39.25 on Wednesday. NewJersey Resources Corporation has a 1 year low of $33.70 and a 1 year high of $45.45. The stock has a market capitalization of $3,502.52, a PE ratio of 23.43, a P/E/G ratio of 3.71 and a beta of 0.43. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.46 and a current ratio of 0.72.
NewJersey Resources (NYSE:NJR) last announced its earnings results on Tuesday, November 21st. The utilities provider reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.01). NewJersey Resources had a net margin of 5.82% and a return on equity of 11.97%. The business had revenue of $536.50 million for the quarter, compared to analyst estimates of $480.90 million. During the same period in the prior year, the company earned ($0.03) earnings per share. The company’s quarterly revenue was up 14.3% on a year-over-year basis. equities analysts predict that NewJersey Resources Corporation will post 1.81 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be given a dividend of $0.2725 per share. This is a positive change from NewJersey Resources’s previous quarterly dividend of $0.26. This represents a $1.09 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Thursday, December 14th. NewJersey Resources’s dividend payout ratio is currently 71.71%.
About NewJersey Resources
New Jersey Resources Corporation is an energy services holding company. The Company’s business is the distribution of natural gas through a regulated utility, which provides other retail and wholesale energy services to customers and investing in clean energy projects and midstream assets. It operates in four business segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services and Midstream.
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