Peapack Gladstone Financial Corp raised its position in shares of NewJersey Resources Corporation (NYSE:NJR) by 5.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,901 shares of the utilities provider’s stock after buying an additional 1,361 shares during the period. Peapack Gladstone Financial Corp’s holdings in NewJersey Resources Corporation were worth $1,028,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of NewJersey Resources Corporation by 8.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,057 shares of the utilities provider’s stock worth $121,000 after buying an additional 244 shares during the period. Advisor Group Inc. boosted its position in shares of NewJersey Resources Corporation by 59.7% during the second quarter. Advisor Group Inc. now owns 4,251 shares of the utilities provider’s stock worth $163,000 after buying an additional 1,589 shares during the period. Flinton Capital Management LLC boosted its position in shares of NewJersey Resources Corporation by 92.2% during the second quarter. Flinton Capital Management LLC now owns 4,336 shares of the utilities provider’s stock worth $172,000 after buying an additional 2,080 shares during the period. Mosaic Family Wealth LLC boosted its position in shares of NewJersey Resources Corporation by 5.9% during the second quarter. Mosaic Family Wealth LLC now owns 4,359 shares of the utilities provider’s stock worth $173,000 after buying an additional 243 shares during the period. Finally, Riverhead Capital Management LLC boosted its position in shares of NewJersey Resources Corporation by 93.0% during the second quarter. Riverhead Capital Management LLC now owns 4,826 shares of the utilities provider’s stock worth $192,000 after buying an additional 2,326 shares during the period. Institutional investors and hedge funds own 64.00% of the company’s stock.

NewJersey Resources Corporation (NJR) traded down 0.23% on Friday, hitting $43.00. The stock had a trading volume of 25,178 shares. NewJersey Resources Corporation has a one year low of $31.10 and a one year high of $44.30. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of 19.27 and a beta of 0.46. The company’s 50-day moving average price is $42.99 and its 200 day moving average price is $41.51.

NewJersey Resources Corporation (NYSE:NJR) last announced its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.19. NewJersey Resources Corporation had a net margin of 8.81% and a return on equity of 12.77%. The firm had revenue of $457.52 million during the quarter, compared to analysts’ expectations of $410.24 million. During the same period in the prior year, the company earned $0.13 EPS. The firm’s revenue was up 16.4% on a year-over-year basis. Analysts expect that NewJersey Resources Corporation will post $1.74 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 22nd were given a dividend of $0.255 per share. The ex-dividend date of this dividend was Thursday, September 21st. This represents a $1.02 dividend on an annualized basis and a yield of 2.37%. NewJersey Resources Corporation’s dividend payout ratio (DPR) is 48.88%.

Several research firms have recently commented on NJR. Bank of America Corporation raised their price target on NewJersey Resources Corporation from $35.00 to $38.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 23rd. BidaskClub upgraded NewJersey Resources Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 13th. Argus raised their price target on NewJersey Resources Corporation from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Monday, August 28th. Finally, Zacks Investment Research upgraded NewJersey Resources Corporation from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $40.80.

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NewJersey Resources Corporation Profile

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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Institutional Ownership by Quarter for NewJersey Resources Corporation (NYSE:NJR)

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