JPMorgan Chase & Co. lifted its stake in shares of NewJersey Resources Corporation (NYSE:NJR) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 370,444 shares of the utilities provider’s stock after acquiring an additional 9,965 shares during the quarter. JPMorgan Chase & Co. owned about 0.43% of NewJersey Resources Corporation worth $14,706,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of NewJersey Resources Corporation by 8.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,057 shares of the utilities provider’s stock worth $121,000 after acquiring an additional 244 shares in the last quarter. Mosaic Family Wealth LLC boosted its stake in shares of NewJersey Resources Corporation by 5.9% during the 2nd quarter. Mosaic Family Wealth LLC now owns 4,359 shares of the utilities provider’s stock worth $173,000 after acquiring an additional 243 shares in the last quarter. Wedbush Securities Inc. bought a new stake in shares of NewJersey Resources Corporation during the 2nd quarter worth about $205,000. World Asset Management Inc bought a new stake in shares of NewJersey Resources Corporation during the 1st quarter worth about $210,000. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of NewJersey Resources Corporation by 2.0% during the 1st quarter. Public Employees Retirement System of Ohio now owns 5,539 shares of the utilities provider’s stock worth $219,000 after acquiring an additional 111 shares in the last quarter. Institutional investors own 64.00% of the company’s stock.

Several research firms have recently issued reports on NJR. BidaskClub upgraded NewJersey Resources Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Zacks Investment Research upgraded 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. Argus upped their price target on NewJersey Resources Corporation from $46.00 to $49.00 and gave the stock a “buy” rating in a research note on Monday, August 28th. Finally, Bank of America Corporation upped their price target on NewJersey Resources Corporation from $35.00 to $38.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. NewJersey Resources Corporation presently has a consensus rating of “Buy” and a consensus target price of $40.80.

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Shares of NewJersey Resources Corporation (NJR) opened at 41.65 on Monday. NewJersey Resources Corporation has a 1-year low of $30.46 and a 1-year high of $44.30. The company has a market cap of $3.60 billion, a P/E ratio of 18.67 and a beta of 0.47. The stock’s 50 day moving average price is $43.29 and its 200 day moving average price is $41.23.

NewJersey Resources Corporation (NYSE:NJR) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.19. The company had revenue of $457.52 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 16.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.13 EPS. Equities research 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 issued a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Thursday, September 21st. NewJersey Resources Corporation’s payout ratio is 48.88%.

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

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