Bar Harbor Trust Services Continues to Hold Position in NewJersey Resources Corporation (NJR)
Bar Harbor Trust Services held its stake in NewJersey Resources Corporation (NYSE:NJR) during the second quarter, Holdings Channel reports. The institutional investor owned 10,000 shares of the utilities provider’s stock at the end of the second quarter. Bar Harbor Trust Services’ holdings in NewJersey Resources Corporation were worth $397,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in NJR. BlackRock Inc. raised its stake in NewJersey Resources Corporation by 4,920.6% in the first quarter. BlackRock Inc. now owns 11,662,464 shares of the utilities provider’s stock valued at $461,831,000 after buying an additional 11,430,170 shares in the last quarter. State Street Corp raised its stake in NewJersey Resources Corporation by 14.6% in the first quarter. State Street Corp now owns 7,351,830 shares of the utilities provider’s stock valued at $291,138,000 after buying an additional 938,056 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in NewJersey Resources Corporation by 38.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,102,931 shares of the utilities provider’s stock valued at $122,876,000 after buying an additional 860,703 shares in the last quarter. Citadel Advisors LLC raised its stake in NewJersey Resources Corporation by 289.4% in the first quarter. Citadel Advisors LLC now owns 699,760 shares of the utilities provider’s stock valued at $27,710,000 after buying an additional 520,047 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in NewJersey Resources Corporation by 6.3% in the first quarter. Vanguard Group Inc. now owns 8,262,024 shares of the utilities provider’s stock valued at $327,176,000 after buying an additional 491,794 shares in the last quarter. Institutional investors own 65.03% of the company’s stock.
NewJersey Resources Corporation (NJR) opened at 43.45 on Wednesday. The stock has a market cap of $3.76 billion, a PE ratio of 19.48 and a beta of 0.47. The firm’s 50-day moving average price is $41.39 and its 200-day moving average price is $40.34. NewJersey Resources Corporation has a 52 week low of $30.46 and a 52 week high of $44.30.
NewJersey Resources Corporation (NYSE:NJR) last released its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.19. The business had revenue of $457.52 million during the quarter, compared to analyst estimates of $410.24 million. NewJersey Resources Corporation had a return on equity of 12.77% and a net margin of 8.81%. The company’s revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the business posted $0.13 EPS. Equities analysts predict that NewJersey Resources Corporation will post $1.75 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 22nd will be given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Thursday, September 21st. NewJersey Resources Corporation’s dividend payout ratio (DPR) is presently 45.74%.
Several equities research analysts recently weighed in on NJR shares. Zacks Investment Research upgraded NewJersey Resources Corporation from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Tuesday, July 11th. Bank of America Corporation reiterated an “underperform” rating and set a $35.00 price objective (up previously from $32.00) on shares of NewJersey Resources Corporation in a research note on Friday, May 19th. Finally, BidaskClub cut NewJersey Resources Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. NewJersey Resources Corporation presently has an average rating of “Buy” and a consensus target price of $38.80.
NewJersey Resources Corporation Company 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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