Aperio Group LLC raised its position in NewJersey Resources Corporation (NYSE:NJR) by 6.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,638 shares of the utilities provider’s stock after buying an additional 3,847 shares during the period. Aperio Group LLC owned approximately 0.07% of NewJersey Resources Corporation worth $2,368,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Louisiana State Employees Retirement System raised its position in shares of NewJersey Resources Corporation by 3.2% in the second quarter. Louisiana State Employees Retirement System now owns 22,500 shares of the utilities provider’s stock worth $893,000 after buying an additional 700 shares during the period. LS Investment Advisors LLC raised its position in shares of NewJersey Resources Corporation by 15.2% in the second quarter. LS Investment Advisors LLC now owns 6,770 shares of the utilities provider’s stock worth $269,000 after buying an additional 895 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of NewJersey Resources Corporation by 4.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 31,346 shares of the utilities provider’s stock worth $1,244,000 after buying an additional 1,322 shares during the period. Eqis Capital Management Inc. raised its position in shares of NewJersey Resources Corporation by 5.2% in the second quarter. Eqis Capital Management Inc. now owns 12,001 shares of the utilities provider’s stock worth $476,000 after buying an additional 588 shares during the period. Finally, Bank of Montreal Can raised its position in shares of NewJersey Resources Corporation by 0.5% in the second quarter. Bank of Montreal Can now owns 37,774 shares of the utilities provider’s stock worth $1,500,000 after buying an additional 202 shares during the period. 65.07% of the stock is owned by institutional investors and hedge funds.

NewJersey Resources Corporation (NYSE:NJR) traded up 0.12% during mid-day trading on Monday, hitting $43.00. The stock had a trading volume of 96,256 shares. The company has a 50-day moving average price of $41.08 and a 200 day moving average price of $39.88. NewJersey Resources Corporation has a 1-year low of $30.46 and a 1-year high of $43.50. The company has a market cap of $3.70 billion, a P/E ratio of 19.27 and a beta of 0.47.

NewJersey Resources Corporation (NYSE:NJR) last announced its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $457.52 million during the quarter, compared to analyst estimates of $410.24 million. During the same quarter in the previous year, the business earned $0.13 EPS. The firm’s revenue was up 16.4% on a year-over-year basis. Equities research analysts forecast that NewJersey Resources Corporation will post $1.74 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 22nd will be issued a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Thursday, September 21st. NewJersey Resources Corporation’s dividend payout ratio (DPR) is 45.74%.

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NJR has been the subject of a number of research reports. BidaskClub raised NewJersey Resources Corporation from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Investment Research raised NewJersey Resources Corporation from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Tuesday, July 11th. Finally, Bank of America Corporation reaffirmed an “underperform” rating and set a $35.00 price target (up from $32.00) on shares of NewJersey Resources Corporation in a research note on Friday, May 19th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $38.80.

About NewJersey Resources Corporation

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.

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

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