Martingale Asset Management L P Has $12.30 Million Position in New Jersey Resources Corp (NJR)

Martingale Asset Management L P increased its holdings in New Jersey Resources Corp (NYSE:NJR) by 30.1% during the first quarter, HoldingsChannel.com reports. The firm owned 246,937 shares of the utilities provider’s stock after acquiring an additional 57,202 shares during the quarter. Martingale Asset Management L P’s holdings in New Jersey Resources were worth $12,296,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. CX Institutional purchased a new position in New Jersey Resources in the 1st quarter worth $32,000. Oregon Public Employees Retirement Fund raised its position in New Jersey Resources by 4,467.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,577,259 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 1,542,723 shares during the period. Liberty Wealth Management LLC purchased a new position in New Jersey Resources in the 4th quarter worth $81,000. Doyle Wealth Management purchased a new position in New Jersey Resources in the 4th quarter worth $145,000. Finally, World Asset Management Inc purchased a new position in New Jersey Resources in the 1st quarter worth $206,000. Institutional investors own 65.80% of the company’s stock.

In other news, Director David A. Trice sold 12,000 shares of New Jersey Resources stock in a transaction dated Thursday, May 16th. The shares were 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 of the company’s stock, valued at approximately $576,237.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David A. Trice sold 20,000 shares of New Jersey Resources stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $49.27, for a total transaction of $985,400.00. Following the sale, the director now directly owns 23,585 shares in the company, valued at approximately $1,162,032.95. The disclosure for this sale can be found here. Insiders have sold a total of 38,068 shares of company stock worth $1,884,657 in the last ninety days. Insiders own 1.30% of the company’s stock.

Shares of NJR opened at $48.65 on Friday. The stock has a market cap of $4.34 billion, a PE ratio of 17.76, a P/E/G ratio of 3.50 and a beta of 0.33. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.91 and a current ratio of 1.04. New Jersey Resources Corp has a 1-year low of $40.28 and a 1-year high of $51.83.

New Jersey Resources (NYSE:NJR) last announced its earnings results on Friday, May 3rd. The utilities provider reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.08. The firm had revenue of $866.26 million for the quarter, compared to analyst estimates of $1.01 billion. New Jersey Resources had a net margin of 4.51% and a return on equity of 8.73%. The company’s revenue for the quarter was down 15.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.62 EPS. Research analysts expect that New Jersey Resources Corp will post 2 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be paid a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Friday, June 14th. New Jersey Resources’s payout ratio is 42.70%.

Separately, Zacks Investment Research cut shares of New Jersey Resources from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $50.00.

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About New Jersey Resources

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

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