SG Americas Securities LLC Decreases Holdings in New Jersey Resources Co. (NYSE:NJR)

SG Americas Securities LLC cut its stake in New Jersey Resources Co. (NYSE:NJRFree Report) by 49.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,654 shares of the utilities provider’s stock after selling 55,748 shares during the quarter. SG Americas Securities LLC owned about 0.06% of New Jersey Resources worth $2,690,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FSA Wealth Management LLC purchased a new position in New Jersey Resources in the 3rd quarter worth approximately $27,000. V Square Quantitative Management LLC purchased a new position in shares of New Jersey Resources in the third quarter valued at $27,000. Versant Capital Management Inc increased its stake in New Jersey Resources by 9,400.0% during the 4th quarter. Versant Capital Management Inc now owns 665 shares of the utilities provider’s stock worth $31,000 after buying an additional 658 shares during the period. UMB Bank n.a. lifted its holdings in New Jersey Resources by 69.8% in the 4th quarter. UMB Bank n.a. now owns 839 shares of the utilities provider’s stock worth $39,000 after buying an additional 345 shares in the last quarter. Finally, Van ECK Associates Corp acquired a new stake in shares of New Jersey Resources during the third quarter valued at about $52,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

New Jersey Resources Price Performance

Shares of NYSE:NJR opened at $46.91 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.62 and a debt-to-equity ratio of 1.31. The firm has a 50-day simple moving average of $47.83 and a 200 day simple moving average of $46.71. New Jersey Resources Co. has a fifty-two week low of $39.44 and a fifty-two week high of $51.94. The company has a market cap of $4.68 billion, a PE ratio of 16.06 and a beta of 0.64.

New Jersey Resources (NYSE:NJRGet Free Report) last announced its quarterly earnings results on Monday, November 25th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.89. New Jersey Resources had a return on equity of 13.54% and a net margin of 16.13%. The business had revenue of $395.78 million for the quarter, compared to the consensus estimate of $406.97 million. During the same quarter last year, the business posted $0.30 EPS. The business’s revenue was up 19.5% on a year-over-year basis. On average, sell-side analysts anticipate that New Jersey Resources Co. will post 3.1 EPS for the current year.

New Jersey Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.84%. The ex-dividend date is Tuesday, March 11th. New Jersey Resources’s dividend payout ratio (DPR) is 61.64%.

Insider Buying and Selling at New Jersey Resources

In related news, COO Patrick J. Migliaccio sold 4,983 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $46.00, for a total value of $229,218.00. Following the completion of the transaction, the chief operating officer now directly owns 37,124 shares of the company’s stock, valued at $1,707,704. This represents a 11.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NJR shares. Wells Fargo & Company increased their price target on New Jersey Resources from $51.00 to $54.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. StockNews.com cut shares of New Jersey Resources from a “hold” rating to a “sell” rating in a report on Friday, January 10th. JPMorgan Chase & Co. upgraded shares of New Jersey Resources from a “neutral” rating to an “overweight” rating and upped their target price for the company from $52.00 to $54.00 in a research note on Thursday, December 12th. Finally, Guggenheim lifted their price target on New Jersey Resources from $46.00 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $51.00.

View Our Latest Stock Report on NJR

About New Jersey Resources

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for New Jersey Resources (NYSE:NJR)

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