Boston Partners Buys 7,614 Shares of NewJersey Resources Corporation $NJR

Boston Partners increased its holdings in shares of NewJersey Resources Corporation (NYSE:NJR - Free Report) by 46.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,918 shares of the utilities provider's stock after purchasing an additional 7,614 shares during the quarter. Boston Partners' holdings in NewJersey Resources were worth $1,173,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NJR. Nuveen LLC purchased a new position in NewJersey Resources in the 1st quarter worth approximately $29,509,000. Millennium Management LLC boosted its stake in shares of NewJersey Resources by 66.0% during the 4th quarter. Millennium Management LLC now owns 1,363,495 shares of the utilities provider's stock valued at $63,607,000 after buying an additional 542,089 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of NewJersey Resources by 7.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,309,166 shares of the utilities provider's stock valued at $154,372,000 after buying an additional 216,000 shares during the last quarter. Northern Trust Corp boosted its stake in shares of NewJersey Resources by 18.5% during the 4th quarter. Northern Trust Corp now owns 1,350,358 shares of the utilities provider's stock valued at $62,994,000 after buying an additional 210,538 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of NewJersey Resources by 6,150.4% during the 1st quarter. GAMMA Investing LLC now owns 143,010 shares of the utilities provider's stock valued at $7,016,000 after buying an additional 140,722 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Buying and Selling at NewJersey Resources

In related news, COO Patrick J. Migliaccio sold 1,500 shares of the 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 transaction, the chief operating officer owned 35,690 shares in the company, valued at $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 can be accessed through the SEC website. 0.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. 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. Raymond James Financial restated an "outperform" rating and set a $50.00 price objective (up from $49.00) on shares of NewJersey Resources in a research note on Friday, August 8th. JPMorgan Chase & Co. reduced their price objective on NewJersey Resources from $56.00 to $51.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 28th. Wall Street Zen cut NewJersey Resources from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, Wells Fargo & Company raised their price objective on NewJersey Resources from $51.00 to $53.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $51.43.

NewJersey Resources Stock Performance

Shares of NJR traded up $0.7750 during trading hours on Friday, reaching $47.7850. 208,851 shares of the company's stock traded hands, compared to its average volume of 623,969. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 11.68 and a beta of 0.64. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.76 and a quick ratio of 0.48. NewJersey Resources Corporation has a twelve month low of $43.80 and a twelve month high of $51.94. The business's fifty day simple moving average is $45.83 and its two-hundred day simple moving average is $46.91.

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

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.