41,285 Shares in NewJersey Resources Corporation $NJR Acquired by Capital Fund Management S.A.

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. bought a new position in shares of NewJersey Resources Corporation (NYSE:NJR - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 41,285 shares of the utilities provider's stock, valued at approximately $2,025,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NJR. Nuveen LLC acquired a new position in shares of NewJersey Resources in the first quarter valued at about $29,509,000. Millennium Management LLC raised its holdings in shares of NewJersey Resources by 66.0% during the fourth quarter. Millennium Management LLC now owns 1,363,495 shares of the utilities provider's stock worth $63,607,000 after purchasing an additional 542,089 shares during the last quarter. Northern Trust Corp raised its holdings in shares of NewJersey Resources by 18.5% during the fourth quarter. Northern Trust Corp now owns 1,350,358 shares of the utilities provider's stock worth $62,994,000 after purchasing an additional 210,538 shares during the last quarter. GAMMA Investing LLC boosted its holdings in NewJersey Resources by 6,150.4% in the first quarter. GAMMA Investing LLC now owns 143,010 shares of the utilities provider's stock valued at $7,016,000 after purchasing an additional 140,722 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in NewJersey Resources by 67.6% during the fourth quarter. Point72 Asset Management L.P. now owns 305,102 shares of the utilities provider's stock worth $14,233,000 after acquiring an additional 123,100 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

NewJersey Resources Stock Performance

Shares of NJR traded up $0.23 during midday trading on Friday, hitting $47.32. 574,151 shares of the stock traded hands, compared to its average volume of 624,479. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.48 and a current ratio of 0.76. NewJersey Resources Corporation has a 1-year low of $43.80 and a 1-year high of $51.94. The business's 50 day moving average price is $46.19 and its two-hundred day moving average price is $46.96. The firm has a market capitalization of $4.75 billion, a PE ratio of 11.57 and a beta of 0.64.

NewJersey Resources (NYSE:NJR - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The utilities provider reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.12. NewJersey Resources had a net margin of 19.64% and a return on equity of 17.08%. The company had revenue of $298.95 million for the quarter, compared to analyst estimates of $305.05 million. During the same quarter last year, the business earned ($0.09) earnings per share. NewJersey Resources's revenue was up 8.5% compared to the same quarter last year. Equities research analysts predict that NewJersey Resources Corporation will post 3.15 EPS for the current fiscal year.

Insider Activity at NewJersey Resources

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wall Street Zen upgraded shares of NewJersey Resources from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd. Raymond James Financial restated 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. JPMorgan Chase & Co. lowered their price target on NewJersey Resources from $56.00 to $51.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 28th. Mizuho reduced their target price on NewJersey Resources from $52.00 to $50.00 and set a "neutral" rating for the company in a research note on Thursday, May 15th. Finally, Wells Fargo & Company lifted their price target on shares of NewJersey Resources from $51.00 to $53.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target 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.