Mutual of America Capital Management LLC raised its stake in shares of New Jersey Resources Corp. (NYSE:NJR) by 3.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,819 shares of the company’s stock after buying an additional 2,317 shares during the period. Mutual of America Capital Management LLC owned 0.08% of New Jersey Resources Corp. worth $2,130,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NJR. State Street Corp increased its stake in shares of New Jersey Resources Corp. by 43.2% in the second quarter. State Street Corp now owns 7,392,860 shares of the company’s stock valued at $284,991,000 after buying an additional 2,230,789 shares during the period. BlackRock Fund Advisors increased its stake in shares of New Jersey Resources Corp. by 5.0% in the second quarter. BlackRock Fund Advisors now owns 6,675,546 shares of the company’s stock valued at $257,342,000 after buying an additional 319,788 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of New Jersey Resources Corp. by 0.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,575,715 shares of the company’s stock valued at $99,294,000 after buying an additional 6,594 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of New Jersey Resources Corp. by 5.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,680,171 shares of the company’s stock valued at $64,767,000 after buying an additional 92,693 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of New Jersey Resources Corp. by 4.3% in the third quarter. Wells Fargo & Company MN now owns 767,486 shares of the company’s stock valued at $25,220,000 after buying an additional 31,443 shares during the period. 60.49% of the stock is currently owned by institutional investors.

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

Shares of New Jersey Resources Corp. (NYSE:NJR) traded up 0.86% during trading on Tuesday, hitting $35.30. The stock had a trading volume of 464,143 shares. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 23.22 and a beta of 0.38. New Jersey Resources Corp. has a 52-week low of $28.02 and a 52-week high of $38.92. The firm’s 50-day moving average is $33.19 and its 200 day moving average is $34.88.

New Jersey Resources Corp. (NYSE:NJR) last issued its earnings results on Tuesday, November 22nd. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by $0.03. New Jersey Resources Corp. had a return on equity of 11.54% and a net margin of 6.91%. The company earned $469.24 million during the quarter, compared to analysts’ expectations of $449.98 million. During the same quarter in the previous year, the company earned $0.05 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, analysts expect that New Jersey Resources Corp. will post $1.79 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Thursday, December 15th will be paid a $0.255 dividend. This is an increase from New Jersey Resources Corp.’s previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, December 13th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.89%. New Jersey Resources Corp.’s dividend payout ratio is presently 64.43%.

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NJR has been the topic of several recent analyst reports. Guggenheim initiated coverage on New Jersey Resources Corp. in a research note on Thursday, November 3rd. They set a “buy” rating and a $36.00 target price on the stock. Zacks Investment Research raised New Jersey Resources Corp. from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Tuesday, October 11th. TheStreet downgraded New Jersey Resources Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 31st. Finally, Argus reaffirmed a “buy” rating and issued a $42.00 price objective on shares of New Jersey Resources Corp. in a research note on Friday, September 16th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $37.10.

About New Jersey Resources Corp.

New Jersey Resources Corporation (NJR) is an energy services holding company that provides retail and wholesale energy services to customers primarily in the Gulf Coast, Mid-Continent, Appalachian, Northeastern, and Western market areas of the United States, as well as Canada. The Company operates within four reportable business segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services and Midstream (formerly Energy Holdings).

5 Day Chart for NYSE:NJR

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