Mercer Capital Advisers Inc. lessened its stake in New Jersey Resources Corp (NYSE:NJR) by 3.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,385 shares of the utilities provider’s stock after selling 943 shares during the period. New Jersey Resources accounts for approximately 0.9% of Mercer Capital Advisers Inc.’s investment portfolio, making the stock its 23rd largest holding. Mercer Capital Advisers Inc.’s holdings in New Jersey Resources were worth $1,463,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Advisory Services Network LLC grew its stake in New Jersey Resources by 1.5% in the first quarter. Advisory Services Network LLC now owns 19,101 shares of the utilities provider’s stock valued at $951,000 after purchasing an additional 289 shares during the last quarter. New York State Common Retirement Fund grew its stake in New Jersey Resources by 2.3% in the first quarter. New York State Common Retirement Fund now owns 95,437 shares of the utilities provider’s stock valued at $4,752,000 after purchasing an additional 2,110 shares during the last quarter. JPMorgan Chase & Co. grew its stake in New Jersey Resources by 28.1% in the first quarter. JPMorgan Chase & Co. now owns 549,589 shares of the utilities provider’s stock valued at $27,365,000 after purchasing an additional 120,396 shares during the last quarter. Mason Street Advisors LLC grew its stake in New Jersey Resources by 1.8% in the first quarter. Mason Street Advisors LLC now owns 47,206 shares of the utilities provider’s stock valued at $2,350,000 after purchasing an additional 847 shares during the last quarter. Finally, FMR LLC grew its stake in New Jersey Resources by 0.8% in the fourth quarter. FMR LLC now owns 1,100,120 shares of the utilities provider’s stock valued at $50,242,000 after purchasing an additional 8,960 shares during the last quarter. Institutional investors own 66.11% of the company’s stock.
In other news, Director David A. Trice sold 12,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $49.74, for a total transaction of $596,880.00. Following the sale, the director now owns 11,585 shares in the company, valued at $576,237.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by insiders.
Shares of NJR stock opened at $49.84 on Friday. New Jersey Resources Corp has a fifty-two week low of $43.51 and a fifty-two week high of $51.83. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 3.56 and a beta of 0.33. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.04 and a quick ratio of 0.91. The business’s 50-day simple moving average is $49.98.
New Jersey Resources (NYSE:NJR) last issued its quarterly earnings results on Friday, May 3rd. The utilities provider reported $1.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.08. New Jersey Resources had a return on equity of 8.73% and a net margin of 4.51%. The business had revenue of $866.26 million for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm earned $1.62 earnings per share. The company’s revenue was down 15.0% on a year-over-year basis. As a group, equities analysts expect that New Jersey Resources Corp will post 2 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 20th will be paid a dividend of $0.292 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 2.34%. New Jersey Resources’s payout ratio is 42.70%.
New Jersey Resources Profile
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 Midstream segments. The Natural Gas Distribution segment offers regulated retail natural gas services to approximately 538,700 residential and commercial customers in central and northern New Jersey; provides storage management services; and participates in the off-system sales and capacity release markets.
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