Robecosam AG lessened its holdings in NewJersey Resources Corporation (NYSE:NJR) by 33.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 100,000 shares of the utilities provider’s stock after selling 50,000 shares during the period. Robecosam AG owned 0.12% of NewJersey Resources Corporation worth $3,990,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in NJR. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of NewJersey Resources Corporation by 8.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,057 shares of the utilities provider’s stock valued at $121,000 after purchasing an additional 244 shares in the last quarter. Advisor Group Inc. lifted its holdings in shares of NewJersey Resources Corporation by 59.7% in the second quarter. Advisor Group Inc. now owns 4,251 shares of the utilities provider’s stock valued at $163,000 after purchasing an additional 1,589 shares in the last quarter. Flinton Capital Management LLC lifted its holdings in shares of NewJersey Resources Corporation by 92.2% in the second quarter. Flinton Capital Management LLC now owns 4,336 shares of the utilities provider’s stock valued at $172,000 after purchasing an additional 2,080 shares in the last quarter. Mosaic Family Wealth LLC lifted its holdings in shares of NewJersey Resources Corporation by 5.9% in the second quarter. Mosaic Family Wealth LLC now owns 4,359 shares of the utilities provider’s stock valued at $173,000 after purchasing an additional 243 shares in the last quarter. Finally, Riverhead Capital Management LLC lifted its holdings in shares of NewJersey Resources Corporation by 93.0% in the second quarter. Riverhead Capital Management LLC now owns 4,826 shares of the utilities provider’s stock valued at $192,000 after purchasing an additional 2,326 shares in the last quarter. 64.00% of the stock is currently owned by institutional investors.

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Shares of NewJersey Resources Corporation (NYSE:NJR) traded up 0.46% during trading on Friday, hitting $43.95. 32,989 shares of the company traded hands. NewJersey Resources Corporation has a one year low of $31.85 and a one year high of $44.30. The firm has a 50 day moving average price of $42.97 and a 200-day moving average price of $41.67. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 19.70 and a beta of 0.46.

NewJersey Resources Corporation (NYSE:NJR) last posted its 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 firm had revenue of $457.52 million during the quarter, compared to analysts’ expectations of $410.24 million. NewJersey Resources Corporation had a net margin of 8.81% and a return on equity of 12.77%. The company’s revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 earnings per share. Analysts predict that NewJersey Resources Corporation will post $1.74 EPS for the current year.

NJR has been the topic of several recent analyst reports. 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 research note on Monday, August 28th. 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 research note on Wednesday, August 23rd. BidaskClub downgraded shares of NewJersey Resources Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Finally, Zacks Investment Research downgraded shares of NewJersey Resources Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target 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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