Vaughan David Investments LLC IL Makes New Investment in New Jersey Resources Co. (NYSE:NJR)

Vaughan David Investments LLC IL bought a new position in New Jersey Resources Co. (NYSE:NJRGet Rating) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,300 shares of the utilities provider’s stock, valued at approximately $218,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its position in shares of New Jersey Resources by 12.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,836,645 shares of the utilities provider’s stock worth $98,747,000 after buying an additional 320,328 shares in the last quarter. Wellington Management Group LLP grew its position in shares of New Jersey Resources by 2.3% during the 3rd quarter. Wellington Management Group LLP now owns 2,518,102 shares of the utilities provider’s stock worth $87,655,000 after buying an additional 55,422 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of New Jersey Resources by 4.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,397,033 shares of the utilities provider’s stock worth $57,362,000 after buying an additional 57,042 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of New Jersey Resources by 1.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,357,736 shares of the utilities provider’s stock worth $47,264,000 after buying an additional 23,995 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of New Jersey Resources by 81.4% during the 4th quarter. JPMorgan Chase & Co. now owns 1,016,000 shares of the utilities provider’s stock worth $41,715,000 after buying an additional 455,958 shares in the last quarter. Institutional investors and hedge funds own 72.01% of the company’s stock.

NJR stock traded up $0.36 during trading on Friday, reaching $44.02. 406,708 shares of the company traded hands, compared to its average volume of 640,175. New Jersey Resources Co. has a 12 month low of $34.41 and a 12 month high of $47.50. The business has a 50 day simple moving average of $44.83 and a 200 day simple moving average of $41.58. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 44.47, a price-to-earnings-growth ratio of 3.10 and a beta of 0.56. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.53 and a current ratio of 0.63.

New Jersey Resources (NYSE:NJRGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The utilities provider reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.09. The company had revenue of $912.32 million for the quarter, compared to the consensus estimate of $877.88 million. New Jersey Resources had a return on equity of 11.06% and a net margin of 3.79%. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.77 earnings per share. As a group, research analysts forecast that New Jersey Resources Co. will post 2.36 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Wednesday, June 15th will be issued a dividend of $0.363 per share. The ex-dividend date is Tuesday, June 14th. This represents a $1.45 annualized dividend and a dividend yield of 3.30%. New Jersey Resources’s dividend payout ratio (DPR) is currently 146.47%.

NJR has been the topic of a number of recent research reports. StockNews.com downgraded New Jersey Resources from a “hold” rating to a “sell” rating in a research report on Tuesday. TheStreet raised New Jersey Resources from a “c+” rating to a “b” rating in a research report on Monday, March 7th. Zacks Investment Research downgraded New Jersey Resources from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Mizuho raised their price objective on New Jersey Resources from $42.00 to $45.00 in a research report on Friday, April 29th. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $42.67.

New Jersey Resources Profile (Get Rating)

New Jersey Resources Corporation, an energy services holding company, provides regulated gas distribution, and retail and wholesale energy services. 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 564,000 residential and commercial customers throughout 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.

See Also

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Institutional Ownership by Quarter for New Jersey Resources (NYSE:NJR)

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