Chicago Equity Partners LLC acquired a new stake in shares of NewJersey Resources Corporation (NYSE:NJR) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 92,455 shares of the utilities provider’s stock, valued at approximately $3,670,000. Chicago Equity Partners LLC owned about 0.11% of NewJersey Resources Corporation as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in NewJersey Resources Corporation by 4,920.6% during the first quarter. BlackRock Inc. now owns 11,662,464 shares of the utilities provider’s stock valued at $461,831,000 after purchasing an additional 11,430,170 shares during the last quarter. Vanguard Group Inc. lifted its holdings in NewJersey Resources Corporation by 6.3% during the first quarter. Vanguard Group Inc. now owns 8,262,024 shares of the utilities provider’s stock valued at $327,176,000 after purchasing an additional 491,794 shares during the last quarter. State Street Corp lifted its holdings in NewJersey Resources Corporation by 14.6% during the first quarter. State Street Corp now owns 7,351,830 shares of the utilities provider’s stock valued at $291,138,000 after purchasing an additional 938,056 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in NewJersey Resources Corporation by 38.4% during 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 purchasing an additional 860,703 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in NewJersey Resources Corporation by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,699,029 shares of the utilities provider’s stock valued at $67,281,000 after purchasing an additional 17,238 shares during the last quarter. 64.16% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have commented on NJR shares. Bank of America Corporation upped their price objective on shares of NewJersey Resources Corporation from $35.00 to $38.00 and gave the company an “underperform” rating in a report on Wednesday, August 23rd. Argus upped their price objective on shares of NewJersey Resources Corporation from $46.00 to $49.00 and gave the company a “buy” rating in a report on Monday, August 28th. BidaskClub downgraded shares of NewJersey Resources Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Finally, Zacks Investment Research raised shares of NewJersey Resources Corporation from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $40.80.

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Shares of NewJersey Resources Corporation (NYSE NJR) opened at 43.50 on Monday. The stock has a 50 day moving average of $42.61 and a 200-day moving average of $40.85. NewJersey Resources Corporation has a one year low of $30.46 and a one year high of $44.30. The stock has a market capitalization of $3.76 billion, a P/E ratio of 19.50 and a beta of 0.47.

NewJersey Resources Corporation (NYSE:NJR) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.20 earnings per share (EPS) 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 the consensus estimate of $410.24 million. NewJersey Resources Corporation had a return on equity of 12.77% and a net margin of 8.81%. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 EPS. Equities analysts forecast that NewJersey Resources Corporation will post $1.74 earnings per share for the current year.

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.34%. NewJersey Resources Corporation’s payout ratio is currently 45.74%.

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

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