American Economic Planning Group Inc. ADV purchased a new stake in shares of New Jersey Resources Corp (NYSE:NJR) during the first quarter, Holdings Channel reports. The fund purchased 5,433 shares of the utilities provider’s stock, valued at approximately $215,000.
Other hedge funds also recently bought and sold shares of the company. LS Investment Advisors LLC boosted its stake in New Jersey Resources Corp by 7.1% in the third quarter. LS Investment Advisors LLC now owns 5,494 shares of the utilities provider’s stock valued at $181,000 after buying an additional 364 shares in the last quarter. Rhumbline Advisers boosted its stake in New Jersey Resources Corp by 2.0% in the third quarter. Rhumbline Advisers now owns 187,616 shares of the utilities provider’s stock valued at $6,165,000 after buying an additional 3,740 shares in the last quarter. Teachers Advisors LLC boosted its stake in New Jersey Resources Corp by 0.6% in the third quarter. Teachers Advisors LLC now owns 150,051 shares of the utilities provider’s stock valued at $4,931,000 after buying an additional 880 shares in the last quarter. New York State Common Retirement Fund boosted its stake in New Jersey Resources Corp by 3.2% in the third quarter. New York State Common Retirement Fund now owns 154,614 shares of the utilities provider’s stock valued at $5,081,000 after buying an additional 4,800 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in New Jersey Resources Corp by 0.7% in the third quarter. BlackRock Inc. now owns 249,449 shares of the utilities provider’s stock valued at $8,197,000 after buying an additional 1,761 shares in the last quarter. 60.26% of the stock is currently owned by hedge funds and other institutional investors.
Shares of New Jersey Resources Corp (NYSE:NJR) remained flat at $40.05 during mid-day trading on Thursday. The company’s stock had a trading volume of 353,217 shares. New Jersey Resources Corp has a one year low of $30.46 and a one year high of $42.65. The stock has a 50 day moving average price of $39.38 and a 200 day moving average price of $36.20. The company has a market capitalization of $3.46 billion, a P/E ratio of 29.89 and a beta of 0.43.
New Jersey Resources Corp (NYSE:NJR) last announced its earnings results on Wednesday, February 8th. The utilities provider reported $0.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by $0.14. New Jersey Resources Corp had a net margin of 5.88% and a return on equity of 10.71%. The business earned $541.03 million during the quarter, compared to analyst estimates of $470.13 million. During the same quarter last year, the business posted $0.60 earnings per share. The business’s quarterly revenue was up 21.8% compared to the same quarter last year. On average, equities research analysts expect that New Jersey Resources Corp will post $1.70 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 3rd. Stockholders of record on Wednesday, March 15th were paid a $0.255 dividend. The ex-dividend date was Monday, March 13th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.55%. New Jersey Resources Corp’s dividend payout ratio (DPR) is presently 76.69%.
ILLEGAL ACTIVITY NOTICE: “5,433 Shares in New Jersey Resources Corp (NJR) Acquired by American Economic Planning Group Inc. ADV” was originally reported by WKRB News and is the sole property of of WKRB News. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece can be read at https://www.wkrb13.com/markets/2065325/5433-shares-in-new-jersey-resources-corp-njr-acquired-by-american-economic-planning-group-inc-adv.html.
Several analysts recently issued reports on the stock. Zacks Investment Research raised shares of New Jersey Resources Corp from a “sell” rating to a “hold” rating in a report on Saturday, February 11th. Seaport Global Securities initiated coverage on shares of New Jersey Resources Corp in a report on Wednesday, December 21st. They issued a “neutral” rating and a $36.00 price target on the stock. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $38.25.
In other news, Director Jane M. Kenny sold 3,000 shares of the firm’s stock in a transaction on Friday, February 24th. The stock was sold at an average price of $39.43, for a total value of $118,290.00. Following the completion of the sale, the director now directly owns 12,031 shares in the company, valued at $474,382.33. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.50% of the company’s stock.
About New Jersey Resources Corp
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.
Want to see what other hedge funds are holding NJR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for New Jersey Resources Corp (NYSE:NJR).
This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2065325/5433-shares-in-new-jersey-resources-corp-njr-acquired-by-american-economic-planning-group-inc-adv.html
Receive News & Ratings for New Jersey Resources Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Jersey Resources Corp and related companies with MarketBeat.com's FREE daily email newsletter.