Quantbot Technologies LP Acquires New Shares in New Jersey Resources Co. (NYSE:NJR)

Quantbot Technologies LP bought a new position in New Jersey Resources Co. (NYSE:NJR) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 38,099 shares of the utilities provider’s stock, valued at approximately $1,635,000.

Other large investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new position in shares of New Jersey Resources during the fourth quarter worth about $26,000. Parkside Financial Bank & Trust acquired a new stake in shares of New Jersey Resources in the fourth quarter valued at approximately $29,000. Headlands Technologies LLC bought a new stake in shares of New Jersey Resources during the fourth quarter valued at approximately $31,000. Heritage Wealth Advisors bought a new stake in shares of New Jersey Resources during the fourth quarter valued at approximately $31,000. Finally, GAMMA Investing LLC acquired a new position in shares of New Jersey Resources during the fourth quarter worth approximately $40,000. 70.98% of the stock is owned by institutional investors and hedge funds.

New Jersey Resources Price Performance

NYSE:NJR traded up $0.51 during midday trading on Friday, hitting $44.68. 469,694 shares of the stock were exchanged, compared to its average volume of 509,771. The business has a 50-day moving average price of $43.13 and a two-hundred day moving average price of $42.73. The company has a current ratio of 0.70, a quick ratio of 0.56 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 17.66 and a beta of 0.60. New Jersey Resources Co. has a one year low of $38.92 and a one year high of $47.04.

New Jersey Resources (NYSE:NJR) last posted its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.08. New Jersey Resources had a return on equity of 12.16% and a net margin of 14.46%. The company had revenue of $657.91 million for the quarter, compared to the consensus estimate of $669.64 million. Sell-side analysts predict that New Jersey Resources Co. will post 2.94 EPS for the current year.

New Jersey Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Wednesday, June 12th were given a dividend of $0.42 per share. The ex-dividend date was Wednesday, June 12th. This represents a $1.68 annualized dividend and a dividend yield of 3.76%. New Jersey Resources’s dividend payout ratio (DPR) is 66.40%.

Insider Transactions at New Jersey Resources

In related news, CEO Stephen D. Westhoven sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $42.82, for a total transaction of $856,400.00. Following the completion of the sale, the chief executive officer now directly owns 198,705 shares of the company’s stock, valued at $8,508,548.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

NJR has been the topic of several analyst reports. StockNews.com upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Thursday, May 16th. Argus raised New Jersey Resources to a “strong-buy” rating in a report on Monday, June 10th. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $45.00.

New Jersey 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.