Capital Fund Management S.A. Takes Position in NewJersey Resources Corporation $NJR

Key Points

• Capital Fund Management S.A. has acquired 41,285 shares of NewJersey Resources Corporation for approximately $2,025,000 during the 1st quarter.
• The company reported a net margin of 19.64% and earnings of $0.06 per share in their latest quarterly results, beating expectations.
• Institutional investors own 70.98% of NewJersey Resources' stock, highlighting significant interest from large financial entities.

Capital Fund Management S.A. acquired a new position in NewJersey Resources Corporation (NYSE:NJR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 41,285 shares of the utilities provider's stock, valued at approximately $2,025,000.

A number of other hedge funds have also recently added to or reduced their stakes in NJR. Hexagon Capital Partners LLC boosted its position in shares of NewJersey Resources by 42.0% in the first quarter. Hexagon Capital Partners LLC now owns 839 shares of the utilities provider's stock valued at $41,000 after acquiring an additional 248 shares during the period. Xponance Inc. boosted its position in shares of NewJersey Resources by 1.9% in the first quarter. Xponance Inc. now owns 15,310 shares of the utilities provider's stock valued at $751,000 after acquiring an additional 288 shares during the period. Good Life Advisors LLC boosted its position in shares of NewJersey Resources by 1.0% in the first quarter. Good Life Advisors LLC now owns 34,976 shares of the utilities provider's stock valued at $1,716,000 after acquiring an additional 333 shares during the period. Choreo LLC boosted its position in shares of NewJersey Resources by 4.1% in the first quarter. Choreo LLC now owns 9,404 shares of the utilities provider's stock valued at $465,000 after acquiring an additional 372 shares during the period. Finally, Federated Hermes Inc. boosted its position in shares of NewJersey Resources by 3.9% in the first quarter. Federated Hermes Inc. now owns 10,093 shares of the utilities provider's stock valued at $495,000 after acquiring an additional 378 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Transactions at NewJersey Resources

In other news, COO Patrick J. Migliaccio sold 1,500 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $44.22, for a total value of $66,330.00. Following the completion of the sale, the chief operating officer directly owned 35,690 shares in the company, valued at approximately $1,578,211.80. This trade represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on NJR. Mizuho reduced their price objective on NewJersey Resources from $52.00 to $50.00 and set a "neutral" rating for the company in a research report on Thursday, May 15th. Wells Fargo & Company increased their price objective on NewJersey Resources from $51.00 to $53.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Raymond James Financial reissued an "outperform" rating and issued a $50.00 price objective (up from $49.00) on shares of NewJersey Resources in a research report on Friday, August 8th. Wall Street Zen raised NewJersey Resources from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd. Finally, JPMorgan Chase & Co. cut their target price on NewJersey Resources from $56.00 to $51.00 and set an "overweight" rating for the company in a research note on Wednesday, May 28th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $51.43.

NewJersey Resources Price Performance

NewJersey Resources stock traded up $0.74 during mid-day trading on Wednesday, hitting $47.44. 722,965 shares of the company were exchanged, compared to its average volume of 631,345. The company has a quick ratio of 0.48, a current ratio of 0.76 and a debt-to-equity ratio of 1.25. The business has a fifty day moving average of $46.07 and a 200 day moving average of $46.93. NewJersey Resources Corporation has a 1-year low of $43.80 and a 1-year high of $51.94. The company has a market capitalization of $4.77 billion, a PE ratio of 11.60 and a beta of 0.64.

NewJersey Resources (NYSE:NJR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.12. NewJersey Resources had a return on equity of 17.08% and a net margin of 19.64%.The firm had revenue of $298.95 million during the quarter, compared to analyst estimates of $305.05 million. During the same period in the prior year, the company posted ($0.09) earnings per share. The business's revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, sell-side analysts expect that NewJersey Resources Corporation will post 3.15 earnings per share for the current year.

NewJersey Resources Company 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.