Parametric Portfolio Associates LLC Raises Stock Position in New Jersey Resources Co. (NYSE:NJR)

Parametric Portfolio Associates LLC boosted its position in shares of New Jersey Resources Co. (NYSE:NJR) by 3.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 416,718 shares of the utilities provider’s stock after acquiring an additional 11,961 shares during the period. Parametric Portfolio Associates LLC owned 0.43% of New Jersey Resources worth $16,490,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Morgan Stanley grew its stake in New Jersey Resources by 99.8% in the 2nd quarter. Morgan Stanley now owns 413,407 shares of the utilities provider’s stock worth $16,357,000 after buying an additional 206,460 shares in the last quarter. Wells Fargo & Company MN grew its stake in New Jersey Resources by 5.2% in the 2nd quarter. Wells Fargo & Company MN now owns 2,416,337 shares of the utilities provider’s stock worth $95,615,000 after buying an additional 118,836 shares in the last quarter. Invesco Ltd. grew its stake in New Jersey Resources by 15.0% in the 2nd quarter. Invesco Ltd. now owns 170,701 shares of the utilities provider’s stock worth $6,754,000 after buying an additional 22,289 shares in the last quarter. Metropolitan Life Insurance Co NY grew its stake in New Jersey Resources by 105,112.2% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 43,137 shares of the utilities provider’s stock worth $1,707,000 after buying an additional 43,096 shares in the last quarter. Finally, Man Group plc grew its stake in New Jersey Resources by 51.6% in the 2nd quarter. Man Group plc now owns 29,818 shares of the utilities provider’s stock worth $1,179,000 after buying an additional 10,150 shares in the last quarter. 69.75% of the stock is owned by institutional investors and hedge funds.

Shares of NJR opened at $39.20 on Thursday. The company has a market cap of $3.76 billion, a price-to-earnings ratio of 23.33, a price-to-earnings-growth ratio of 2.43 and a beta of 0.57. The company has a current ratio of 0.84, a quick ratio of 0.61 and a debt-to-equity ratio of 1.32. New Jersey Resources Co. has a fifty-two week low of $32.40 and a fifty-two week high of $44.41. The business has a 50 day simple moving average of $37.19.

New Jersey Resources (NYSE:NJR) last announced its quarterly earnings data on Thursday, November 18th. The utilities provider reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.01). New Jersey Resources had a return on equity of 14.52% and a net margin of 8.02%. The business had revenue of $532.80 million during the quarter, compared to the consensus estimate of $610.33 million. During the same quarter in the previous year, the firm posted $0.57 earnings per share. The company’s revenue was up 33.2% compared to the same quarter last year. Equities research analysts forecast that New Jersey Resources Co. will post 2.16 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 3rd. Investors of record on Wednesday, December 15th will be issued a dividend of $0.363 per share. This is a positive change from New Jersey Resources’s previous quarterly dividend of $0.33. This represents a $1.45 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date is Tuesday, December 14th. New Jersey Resources’s dividend payout ratio is currently 86.31%.

In related news, CFO Patrick J. Migliaccio sold 4,000 shares of the company’s stock in a transaction on Tuesday, November 23rd. The shares were sold at an average price of $39.02, for a total transaction of $156,080.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.61% of the company’s stock.

A number of equities analysts have commented on the stock. TheStreet cut shares of New Jersey Resources from a “b” rating to a “c” rating in a research note on Tuesday, September 7th. Zacks Investment Research upgraded shares of New Jersey Resources from a “sell” rating to a “hold” rating in a report on Wednesday, October 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, New Jersey Resources presently has an average rating of “Hold” and a consensus price target of $42.60.

New Jersey Resources Profile

New Jersey Resources Corp. is a holding company. The firm provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. It operates through the following segments: New Jersey Natural Gas, NJR Clean Energy Ventures, NJR Energy Services, NJR Midstream, and NJR Home Services.

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

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