Northwestern Mutual Investment Management Company LLC lessened its stake in shares of NewJersey Resources Corporation (NYSE:NJR) by 0.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,856 shares of the utilities provider’s stock after selling 19 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in NewJersey Resources Corporation were worth $573,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NJR. BlackRock Inc. raised its holdings in NewJersey Resources Corporation by 4,920.6% during the 1st quarter. BlackRock Inc. now owns 11,662,464 shares of the utilities provider’s stock worth $461,831,000 after buying an additional 11,430,170 shares during the period. State Street Corp raised its holdings in NewJersey Resources Corporation by 14.6% during the 1st quarter. State Street Corp now owns 7,351,830 shares of the utilities provider’s stock worth $291,138,000 after buying an additional 938,056 shares during the period. Goldman Sachs Group Inc. raised its holdings in NewJersey Resources Corporation by 38.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,102,931 shares of the utilities provider’s stock worth $122,876,000 after buying an additional 860,703 shares during the period. Citadel Advisors LLC raised its holdings in NewJersey Resources Corporation by 289.4% during the 1st quarter. Citadel Advisors LLC now owns 699,760 shares of the utilities provider’s stock worth $27,710,000 after buying an additional 520,047 shares during the period. Finally, Vanguard Group Inc. raised its holdings in NewJersey Resources Corporation by 6.3% during the 1st quarter. Vanguard Group Inc. now owns 8,262,024 shares of the utilities provider’s stock worth $327,176,000 after buying an additional 491,794 shares during the period. Hedge funds and other institutional investors own 64.16% of the company’s stock.

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NewJersey Resources Corporation (NJR) opened at 43.75 on Tuesday. The firm’s 50-day moving average price is $43.08 and its 200 day moving average price is $41.06. The stock has a market cap of $3.79 billion, a PE ratio of 19.61 and a beta of 0.47. NewJersey Resources Corporation has a 1-year low of $30.46 and a 1-year high of $44.30.

NewJersey Resources Corporation (NYSE:NJR) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.19. The company had revenue of $457.52 million for 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%. NewJersey Resources Corporation’s revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 earnings per share. Equities research analysts expect that NewJersey Resources Corporation will post $1.74 EPS for the current year.

The firm also recently declared 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 2.33%. The ex-dividend date of this dividend is Thursday, September 21st. NewJersey Resources Corporation’s dividend payout ratio is currently 45.74%.

Several analysts have issued reports on NJR shares. Argus boosted their price objective on NewJersey Resources Corporation from $46.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, August 28th. Bank of America Corporation boosted their price objective on NewJersey Resources Corporation from $35.00 to $38.00 and gave the stock an “underperform” rating in a report on Wednesday, August 23rd. BidaskClub downgraded NewJersey Resources Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Finally, Zacks Investment Research upgraded 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 issued a strong buy rating to the company. NewJersey Resources Corporation presently has an average rating of “Buy” and an average target price of $40.80.

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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