denkapparat Operations GmbH Makes New $350,000 Investment in NewJersey Resources Corporation $NJR

denkapparat Operations GmbH purchased a new position in NewJersey Resources Corporation (NYSE:NJR) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,818 shares of the utilities provider’s stock, valued at approximately $350,000.

Several other institutional investors have also modified their holdings of the business. Wealth Quarterback LLC bought a new stake in NewJersey Resources during the 2nd quarter worth approximately $430,000. Palouse Capital Management Inc. acquired a new position in shares of NewJersey Resources in the second quarter valued at approximately $95,000. Ibex Wealth Advisors acquired a new stake in shares of NewJersey Resources during the second quarter worth $281,000. Vise Technologies Inc. bought a new stake in NewJersey Resources in the 2nd quarter valued at $221,000. Finally, ProShare Advisors LLC lifted its position in NewJersey Resources by 0.4% in the 2nd quarter. ProShare Advisors LLC now owns 831,309 shares of the utilities provider’s stock valued at $37,259,000 after acquiring an additional 3,588 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

NewJersey Resources Price Performance

NYSE:NJR opened at $46.06 on Thursday. NewJersey Resources Corporation has a 1-year low of $43.46 and a 1-year high of $51.94. The company has a current ratio of 0.76, a quick ratio of 0.48 and a debt-to-equity ratio of 1.25. The firm has a fifty day simple moving average of $46.30 and a 200 day simple moving average of $46.26. The stock has a market capitalization of $4.63 billion, a PE ratio of 11.26 and a beta of 0.67.

NewJersey Resources (NYSE:NJR) last posted its quarterly earnings results on Friday, May 19th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter. NewJersey Resources had a net margin of 19.64% and a return on equity of 17.08%. The firm had revenue of $912.32 million for the quarter. On average, research analysts expect that NewJersey Resources Corporation will post 3.15 EPS for the current fiscal year.

NewJersey Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 12th will be issued a dividend of $0.475 per share. The ex-dividend date is Friday, December 12th. This represents a $1.90 dividend on an annualized basis and a yield of 4.1%. NewJersey Resources’s dividend payout ratio (DPR) is presently 46.45%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Raymond James Financial reissued an “outperform” rating and issued a $50.00 price target (up previously from $49.00) on shares of NewJersey Resources in a research note on Friday, August 8th. Wall Street Zen upgraded NewJersey Resources from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NewJersey Resources in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $51.43.

NewJersey Resources 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.