Shelton Capital Management bought a new position in NewJersey Resources Corporation (NYSE:NJR) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,790 shares of the utilities provider’s stock, valued at approximately $230,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Flinton Capital Management LLC increased its position 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 worth $172,000 after acquiring an additional 2,080 shares in the last quarter. Royal Bank of Canada increased its position in shares of NewJersey Resources Corporation by 0.8% in the second quarter. Royal Bank of Canada now owns 38,631 shares of the utilities provider’s stock worth $1,534,000 after acquiring an additional 325 shares in the last quarter. Balyasny Asset Management LLC purchased a new position in shares of NewJersey Resources Corporation in the second quarter worth approximately $386,000. Stifel Financial Corp increased its position in shares of NewJersey Resources Corporation by 2.5% in the second quarter. Stifel Financial Corp now owns 9,853 shares of the utilities provider’s stock worth $390,000 after acquiring an additional 237 shares in the last quarter. Finally, Voya Investment Management LLC increased its position in shares of NewJersey Resources Corporation by 10.2% in the second quarter. Voya Investment Management LLC now owns 39,926 shares of the utilities provider’s stock worth $1,585,000 after acquiring an additional 3,705 shares in the last quarter. 64.00% of the stock is currently owned by institutional investors and hedge funds.

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Several research analysts have recently weighed in on NJR shares. Zacks Investment Research raised shares of NewJersey Resources Corporation from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Tuesday, July 11th. BidaskClub downgraded shares of NewJersey Resources Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Argus lifted their target price on shares of NewJersey Resources Corporation from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Monday, August 28th. Finally, Bank of America Corporation lifted their target price on shares of NewJersey Resources Corporation from $35.00 to $38.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 23rd. 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 issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $40.80.

Shares of NewJersey Resources Corporation (NYSE:NJR) opened at 43.80 on Thursday. NewJersey Resources Corporation has a 12-month low of $32.05 and a 12-month high of $44.30. The firm has a market capitalization of $3.79 billion, a PE ratio of 19.63 and a beta of 0.46. The company’s 50 day moving average is $42.92 and its 200 day moving average is $41.79.

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, topping analysts’ consensus estimates of $0.01 by $0.19. NewJersey Resources Corporation had a return on equity of 12.77% and a net margin of 8.81%. The business had revenue of $457.52 million during the quarter, compared to analysts’ expectations of $410.24 million. During the same period in the prior year, the business earned $0.13 EPS. NewJersey Resources Corporation’s revenue for the quarter was up 16.4% compared to the same quarter last year. On average, analysts forecast that NewJersey Resources Corporation will post $1.74 earnings per share for the current year.

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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