Boston Partners Acquires 190,028 Shares of New Jersey Resources Co. (NYSE:NJR)

Boston Partners boosted its holdings in shares of New Jersey Resources Co. (NYSE:NJR) by 65.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 480,001 shares of the utilities provider’s stock after acquiring an additional 190,028 shares during the quarter. Boston Partners’ holdings in New Jersey Resources were worth $20,623,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Cox Capital Mgt LLC grew its stake in New Jersey Resources by 180.8% in the first quarter. Cox Capital Mgt LLC now owns 75,647 shares of the utilities provider’s stock worth $3,246,000 after purchasing an additional 48,703 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of New Jersey Resources by 20.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 172,271 shares of the utilities provider’s stock valued at $7,680,000 after buying an additional 28,953 shares during the period. Jackson Creek Investment Advisors LLC bought a new stake in shares of New Jersey Resources in the fourth quarter valued at about $935,000. Confluence Investment Management LLC purchased a new stake in New Jersey Resources in the first quarter worth about $19,337,000. Finally, Vanguard Group Inc. grew its holdings in New Jersey Resources by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 11,897,288 shares of the utilities provider’s stock worth $530,381,000 after acquiring an additional 332,420 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

New Jersey Resources Stock Down 0.3 %

NYSE:NJR traded down $0.12 during midday trading on Friday, reaching $46.80. 520,801 shares of the stock traded hands, compared to its average volume of 479,581. The stock has a market capitalization of $4.62 billion, a PE ratio of 18.50 and a beta of 0.60. New Jersey Resources Co. has a 12-month low of $38.92 and a 12-month high of $47.37. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.56 and a current ratio of 0.70. The business has a 50-day moving average of $43.79 and a two-hundred day moving average of $42.93.

New Jersey Resources (NYSE:NJR) last issued its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $1.40 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $657.91 million during the quarter, compared to analyst estimates of $669.64 million. On average, equities analysts forecast that New Jersey Resources Co. will post 2.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Stephen D. Westhoven sold 3,400 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $45.00, for a total transaction of $153,000.00. Following the transaction, the chief executive officer now owns 195,305 shares in the company, valued at $8,788,725. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Stephen D. Westhoven sold 26,600 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $45.06, for a total value of $1,198,596.00. Following the completion of the transaction, the chief executive officer now directly owns 168,705 shares in the company, valued at $7,601,847.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Stephen D. Westhoven sold 3,400 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $45.00, for a total value of $153,000.00. Following the completion of the sale, the chief executive officer now owns 195,305 shares in the company, valued at approximately $8,788,725. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,000 shares of company stock valued at $2,207,996. 0.75% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NJR has been the subject of several research reports. StockNews.com raised shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Thursday, May 16th. Argus upgraded 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $45.00.

About New Jersey 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.