JPMorgan Chase & Co. Has $24.59 Million Stock Holdings in New Jersey Resources Co. (NYSE:NJR)

JPMorgan Chase & Co. grew its holdings in New Jersey Resources Co. (NYSE:NJR) by 41.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 691,811 shares of the utilities provider’s stock after purchasing an additional 201,683 shares during the quarter. JPMorgan Chase & Co. owned about 0.72% of New Jersey Resources worth $24,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. BlackRock Inc. raised its stake in New Jersey Resources by 7.9% during the 4th quarter. BlackRock Inc. now owns 14,686,757 shares of the utilities provider’s stock worth $522,114,000 after buying an additional 1,074,126 shares during the period. Wells Fargo & Company MN raised its stake in New Jersey Resources by 6.3% during the 4th quarter. Wells Fargo & Company MN now owns 2,286,047 shares of the utilities provider’s stock worth $81,269,000 after buying an additional 135,868 shares during the period. Bank of New York Mellon Corp raised its stake in New Jersey Resources by 12.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,330,071 shares of the utilities provider’s stock worth $47,286,000 after buying an additional 151,292 shares during the period. Duff & Phelps Investment Management Co. raised its stake in New Jersey Resources by 21.3% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 1,311,600 shares of the utilities provider’s stock worth $46,627,000 after buying an additional 230,000 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in New Jersey Resources by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 879,842 shares of the utilities provider’s stock worth $31,279,000 after buying an additional 14,728 shares during the period. 71.65% of the stock is currently owned by institutional investors.

NJR has been the topic of a number of research reports. TheStreet raised New Jersey Resources from a “c” rating to a “b” rating in a research note on Thursday, December 31st. Zacks Investment Research raised New Jersey Resources from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Friday. Mizuho upped their price target on New Jersey Resources from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, February 10th. Finally, Siebert Williams Shank assumed coverage on New Jersey Resources in a report on Tuesday, January 19th. They set a “buy” rating and a $44.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. New Jersey Resources currently has an average rating of “Hold” and a consensus target price of $39.40.

Shares of NJR opened at $40.81 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 1.17. The stock has a 50 day moving average price of $40.25 and a two-hundred day moving average price of $35.10. The firm has a market capitalization of $3.93 billion, a P/E ratio of 19.81, a P/E/G ratio of 3.89 and a beta of 0.46. New Jersey Resources Co. has a 52 week low of $25.87 and a 52 week high of $42.57.

New Jersey Resources (NYSE:NJR) last issued its quarterly earnings data on Wednesday, February 3rd. The utilities provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). The company had revenue of $454.31 million for the quarter, compared to the consensus estimate of $675.28 million. New Jersey Resources had a return on equity of 10.61% and a net margin of 9.93%. The business’s revenue for the quarter was down 26.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.38 earnings per share. On average, equities analysts forecast that New Jersey Resources Co. will post 1.6 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 1st. Stockholders of record on Wednesday, March 17th were issued a $0.333 dividend. This represents a $1.33 annualized dividend and a dividend yield of 3.26%. The ex-dividend date was Tuesday, March 16th. New Jersey Resources’s dividend payout ratio is presently 64.56%.

In other news, Director M William Howard, Jr. sold 5,580 shares of the company’s stock in a transaction that occurred on Friday, March 19th. The stock was sold at an average price of $40.16, for a total value of $224,092.80. Following the completion of the transaction, the director now directly owns 17,335 shares of the company’s stock, valued at $696,173.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Patrick J. Migliaccio sold 3,811 shares of the company’s stock in a transaction that occurred on Thursday, February 11th. The shares were sold at an average price of $37.11, for a total value of $141,426.21. Corporate insiders own 0.61% of the company’s stock.

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 Storage and Transportation. The Natural Gas Distribution segment offers regulated retail natural gas services to approximately 558,000 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.

Further Reading: When is a capital gain realized?

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

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