Fox Run Management L.L.C. Sells 7,205 Shares of NewJersey Resources Corporation $NJR

Fox Run Management L.L.C. decreased its stake in NewJersey Resources Corporation (NYSE:NJR) by 45.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,552 shares of the utilities provider’s stock after selling 7,205 shares during the period. Fox Run Management L.L.C.’s holdings in NewJersey Resources were worth $383,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Cullen Frost Bankers Inc. boosted its holdings in shares of NewJersey Resources by 153.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 754 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 456 shares in the last quarter. IFP Advisors Inc grew its position in NewJersey Resources by 23.1% during the second quarter. IFP Advisors Inc now owns 1,504 shares of the utilities provider’s stock valued at $67,000 after acquiring an additional 282 shares during the last quarter. Brooklyn Investment Group raised its stake in shares of NewJersey Resources by 1,715.4% during the first quarter. Brooklyn Investment Group now owns 1,416 shares of the utilities provider’s stock worth $69,000 after acquiring an additional 1,338 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of NewJersey Resources by 112.1% in the 2nd quarter. AlphaQuest LLC now owns 2,229 shares of the utilities provider’s stock worth $100,000 after acquiring an additional 1,178 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of NewJersey Resources by 29.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,410 shares of the utilities provider’s stock valued at $108,000 after purchasing an additional 551 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NJR shares. Wall Street Zen upgraded shares of NewJersey Resources from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Raymond James Financial restated an “outperform” rating and set a $50.00 price target (up from $49.00) on shares of NewJersey Resources in a research report on Friday, August 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of NewJersey Resources in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $51.43.

NewJersey Resources Trading Down 0.2%

NYSE NJR opened at $46.06 on Thursday. The stock has a market cap of $4.63 billion, a P/E ratio of 11.26 and a beta of 0.67. NewJersey Resources Corporation has a fifty-two week low of $43.46 and a fifty-two week high of $51.94. The stock has a 50 day simple moving average of $46.30 and a two-hundred day simple moving average of $46.26. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.48 and a current ratio of 0.76.

NewJersey Resources (NYSE:NJR) last announced its earnings results on Friday, May 19th. The utilities provider reported $1.36 earnings per share for the quarter. NewJersey Resources had a net margin of 19.64% and a return on equity of 17.08%. The firm had revenue of $912.32 million for the quarter. On average, analysts forecast that NewJersey Resources Corporation will post 3.15 earnings per share for the current year.

NewJersey Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 12th will be paid a dividend of $0.475 per share. The ex-dividend date of this dividend is Friday, December 12th. This represents a $1.90 annualized dividend and a yield of 4.1%. NewJersey Resources’s payout ratio is presently 46.45%.

NewJersey Resources Company Profile

New Jersey Resources Corporation, an energy services holding company, distributes natural gas. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Storage and Transportation. The Natural Gas Distribution segment offers regulated natural gas utility services to approximately 576,000 customers in Burlington, Middlesex, Monmouth, Morris, Ocean, and Sussex counties in New Jersey; provides capacity and storage management services; and participates in the off-system sales and capacity release markets.