denkapparat Operations GmbH Purchases New Stake in NewJersey Resources Corporation $NJR

denkapparat Operations GmbH acquired a new position in shares of NewJersey Resources Corporation (NYSE:NJR) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,818 shares of the utilities provider’s stock, valued at approximately $350,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Nuveen LLC acquired a new stake in shares of NewJersey Resources during the 1st quarter worth about $29,509,000. Jane Street Group LLC acquired a new stake in NewJersey Resources during the first quarter worth approximately $8,907,000. Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of NewJersey Resources during the first quarter worth approximately $6,834,000. Dimensional Fund Advisors LP boosted its holdings in shares of NewJersey Resources by 3.5% during the first quarter. Dimensional Fund Advisors LP now owns 3,424,736 shares of the utilities provider’s stock worth $168,019,000 after acquiring an additional 115,570 shares during the period. Finally, Bragg Financial Advisors Inc grew its position in shares of NewJersey Resources by 33.1% in the first quarter. Bragg Financial Advisors Inc now owns 463,948 shares of the utilities provider’s stock valued at $22,761,000 after purchasing an additional 115,341 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

NewJersey Resources Stock Performance

NJR opened at $46.06 on Thursday. 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 52-week low of $43.46 and a 52-week high of $51.94. The firm has a market cap of $4.63 billion, a P/E ratio of 11.26 and a beta of 0.67. The business’s fifty day moving average is $46.30 and its 200-day moving average is $46.26.

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

NewJersey Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 12th will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, December 12th. 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.