New Jersey Resources Corp (NJR) Shares Bought by Amalgamated Bank
Amalgamated Bank lifted its position in shares of New Jersey Resources Corp (NYSE:NJR) by 3.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,602 shares of the utilities provider’s stock after purchasing an additional 427 shares during the quarter. Amalgamated Bank’s holdings in New Jersey Resources were worth $576,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund boosted its position in shares of New Jersey Resources by 4,467.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,577,259 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 1,542,723 shares in the last quarter. Doyle Wealth Management purchased a new position in New Jersey Resources during the fourth quarter valued at $145,000. Tower Research Capital LLC TRC boosted its holdings in New Jersey Resources by 286.1% in the third quarter. Tower Research Capital LLC TRC now owns 3,780 shares of the utilities provider’s stock worth $174,000 after acquiring an additional 2,801 shares in the last quarter. Bruderman Asset Management LLC boosted its holdings in New Jersey Resources by 55.5% in the fourth quarter. Bruderman Asset Management LLC now owns 4,861 shares of the utilities provider’s stock worth $222,000 after acquiring an additional 1,735 shares in the last quarter. Finally, Gotham Asset Management LLC bought a new stake in New Jersey Resources in the fourth quarter worth $224,000. Institutional investors own 67.16% of the company’s stock.
NJR has been the subject of several analyst reports. Zacks Investment Research upgraded New Jersey Resources from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a report on Tuesday, February 5th. Guggenheim cut shares of New Jersey Resources from a “neutral” rating to a “sell” rating in a research note on Monday, January 7th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $50.00.
NYSE:NJR opened at $48.62 on Wednesday. New Jersey Resources Corp has a 52 week low of $39.75 and a 52 week high of $51.83. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.79 and a current ratio of 1.05. The company has a market cap of $4.34 billion, a PE ratio of 17.74, a PEG ratio of 3.54 and a beta of 0.34.
New Jersey Resources (NYSE:NJR) last announced its quarterly earnings data on Wednesday, February 6th. The utilities provider reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.08). The firm had revenue of $811.77 million during the quarter, compared to analysts’ expectations of $712.00 million. New Jersey Resources had a return on equity of 10.92% and a net margin of 6.49%. New Jersey Resources’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.56 earnings per share. As a group, equities analysts predict that New Jersey Resources Corp will post 2.01 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Thursday, March 14th. New Jersey Resources’s payout ratio is 42.70%.
About New Jersey Resources
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.
Recommended Story: Lock-Up Period Expiration
Want to see what other hedge funds are holding NJR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for New Jersey Resources Corp (NYSE:NJR).
Receive News & Ratings for New Jersey Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Jersey Resources and related companies with MarketBeat.com's FREE daily email newsletter.