KLP Kapitalforvaltning AS Purchases 9,200 Shares of NewJersey Resources Corporation $NJR

KLP Kapitalforvaltning AS grew its position in shares of NewJersey Resources Corporation (NYSE:NJR - Free Report) by 23.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,900 shares of the utilities provider's stock after buying an additional 9,200 shares during the period. KLP Kapitalforvaltning AS's holdings in NewJersey Resources were worth $2,162,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Crews Bank & Trust bought a new position in NewJersey Resources during the 1st quarter worth $37,000. Hexagon Capital Partners LLC increased its position in NewJersey Resources by 42.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 839 shares of the utilities provider's stock worth $41,000 after buying an additional 248 shares during the period. Brooklyn Investment Group increased its position in NewJersey Resources by 1,715.4% during the 1st quarter. Brooklyn Investment Group now owns 1,416 shares of the utilities provider's stock worth $69,000 after buying an additional 1,338 shares during the period. Farther Finance Advisors LLC increased its position in NewJersey Resources by 83.7% during the 1st quarter. Farther Finance Advisors LLC now owns 1,859 shares of the utilities provider's stock worth $91,000 after buying an additional 847 shares during the period. Finally, WASHINGTON TRUST Co bought a new position in NewJersey Resources during the 1st quarter worth $117,000. Institutional investors own 70.98% of the company's stock.

NewJersey Resources Stock Down 0.8%

Shares of NYSE NJR opened at $45.65 on Monday. 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 52 week low of $43.80 and a 52 week high of $51.94. The stock has a market capitalization of $4.59 billion, a P/E ratio of 11.16 and a beta of 0.64. The stock's fifty day moving average is $46.99 and its 200 day moving average is $46.75.

NewJersey Resources (NYSE:NJR - Get Free Report) last released its earnings results on Friday, May 19th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter. NewJersey Resources had a return on equity of 17.08% and a net margin of 19.64%.The firm had revenue of $912.32 million for the quarter. Sell-side analysts forecast that NewJersey Resources Corporation will post 3.15 earnings per share for the current fiscal year.

NewJersey Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 22nd were given a $0.475 dividend. This is a boost from NewJersey Resources's previous quarterly dividend of $0.45. This represents a $1.90 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Monday, September 22nd. NewJersey Resources's dividend payout ratio (DPR) is presently 46.45%.

Analyst Upgrades and Downgrades

NJR has been the topic of several recent research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of NewJersey Resources in a research report on Wednesday, October 8th. Wall Street Zen cut NewJersey Resources from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, 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 report on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, NewJersey Resources currently has an average 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.

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