4,941 Shares in NewJersey Resources Corporation $NJR Purchased by Vise Technologies Inc.

Vise Technologies Inc. purchased a new stake in shares of NewJersey Resources Corporation (NYSE:NJR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,941 shares of the utilities provider’s stock, valued at approximately $221,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Horizon Investment Services LLC bought a new position in shares of NewJersey Resources in the 1st quarter worth approximately $298,000. Amundi grew its stake in NewJersey Resources by 605.0% in the first quarter. Amundi now owns 46,868 shares of the utilities provider’s stock worth $2,330,000 after purchasing an additional 40,220 shares during the period. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in NewJersey Resources in the first quarter worth $6,834,000. CWM LLC raised its holdings in NewJersey Resources by 10.9% in the first quarter. CWM LLC now owns 3,972 shares of the utilities provider’s stock worth $195,000 after purchasing an additional 390 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in NewJersey Resources by 43.8% during the first quarter. Envestnet Asset Management Inc. now owns 74,845 shares of the utilities provider’s stock valued at $3,672,000 after buying an additional 22,805 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

NJR has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NewJersey Resources in a research report on Wednesday, October 8th. Wall Street Zen raised shares of NewJersey Resources from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $50.00 target price (up previously from $49.00) on shares of NewJersey Resources in a research note on Friday, August 8th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $51.43.

NewJersey Resources Stock Performance

Shares of NJR stock opened at $46.51 on Tuesday. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of 11.37 and a beta of 0.67. 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 Corporation has a one year low of $43.46 and a one year high of $51.94. The company’s 50-day moving average is $46.29 and its 200 day moving average is $46.19.

NewJersey Resources (NYSE:NJR) last issued its earnings results on Friday, May 19th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter. NewJersey Resources had a net margin of 19.64% and a return on equity of 17.08%. The business had revenue of $912.32 million during the quarter. Sell-side analysts expect that NewJersey Resources Corporation will post 3.15 EPS for the current fiscal 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 given a $0.475 dividend. 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 dividend payout ratio is 46.45%.

About NewJersey Resources

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.