NewJersey Resources Corporation $NJR Position Increased by Kestra Investment Management LLC

Kestra Investment Management LLC raised its holdings in shares of NewJersey Resources Corporation (NYSE:NJR) by 44.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,350 shares of the utilities provider’s stock after buying an additional 4,698 shares during the period. Kestra Investment Management LLC’s holdings in NewJersey Resources were worth $753,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in NewJersey Resources by 3.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,424,736 shares of the utilities provider’s stock worth $168,019,000 after purchasing an additional 115,570 shares during the period. Millennium Management LLC boosted its stake in NewJersey Resources by 66.0% in the 4th quarter. Millennium Management LLC now owns 1,363,495 shares of the utilities provider’s stock worth $63,607,000 after purchasing an additional 542,089 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in NewJersey Resources by 0.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,274,588 shares of the utilities provider’s stock worth $62,531,000 after purchasing an additional 7,132 shares during the period. Nuveen LLC acquired a new position in NewJersey Resources in the 1st quarter worth approximately $29,509,000. Finally, Nuveen Asset Management LLC boosted its stake in NewJersey Resources by 2.9% in the 4th quarter. Nuveen Asset Management LLC now owns 475,830 shares of the utilities provider’s stock worth $22,197,000 after purchasing an additional 13,580 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of NewJersey Resources from $56.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, May 28th. Wall Street Zen raised shares of NewJersey Resources from a “sell” rating to a “hold” rating in a research note on Friday, August 22nd. Raymond James Financial reaffirmed an “outperform” rating and issued a $50.00 price objective (up previously from $49.00) on shares of NewJersey Resources in a research note on Friday, August 8th. Finally, Mizuho decreased their price objective on shares of NewJersey Resources from $52.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, May 15th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.43.

NewJersey Resources Stock Up 0.3%

NJR stock opened at $47.01 on Monday. NewJersey Resources Corporation has a 12-month low of $43.80 and a 12-month high of $51.94. The company has a quick ratio of 0.48, a current ratio of 0.76 and a debt-to-equity ratio of 1.25. The company has a market cap of $4.72 billion, a price-to-earnings ratio of 11.49 and a beta of 0.67. The company has a 50 day moving average of $46.40 and a two-hundred day moving average of $46.99.

NewJersey Resources (NYSE:NJR) last released its earnings results on Monday, August 4th. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.12. NewJersey Resources had a net margin of 19.64% and a return on equity of 17.08%. The company had revenue of $298.95 million during the quarter, compared to the consensus estimate of $305.05 million. During the same quarter in the prior year, the firm earned ($0.09) EPS. The company’s revenue was up 8.5% compared to the same quarter last year. On average, equities analysts anticipate that NewJersey Resources Corporation will post 3.15 earnings per share for the current fiscal year.

Insider Buying and Selling at NewJersey Resources

In other news, COO Patrick J. Migliaccio sold 1,500 shares of the firm’s stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $44.22, for a total transaction of $66,330.00. Following the transaction, the chief operating officer owned 35,690 shares in the company, valued at approximately $1,578,211.80. This trade represents a 4.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.72% of the company’s stock.

NewJersey Resources 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.