NewJersey Resources Corporation $NJR Shares Purchased by Aptus Capital Advisors LLC

Key Points

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Aptus Capital Advisors LLC raised its position in NewJersey Resources Corporation (NYSE:NJR - Free Report) by 37.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 159,303 shares of the utilities provider's stock after acquiring an additional 43,074 shares during the period. Aptus Capital Advisors LLC owned approximately 0.16% of NewJersey Resources worth $7,815,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Crews Bank & Trust acquired a new stake in NewJersey Resources in the first quarter valued at approximately $37,000. Hexagon Capital Partners LLC boosted its stake in 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 in the last quarter. Ameriflex Group Inc. acquired a new stake in NewJersey Resources in the fourth quarter valued at approximately $51,000. Brooklyn Investment Group lifted its stake in shares of NewJersey Resources by 1,715.4% during the first 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. Finally, Lazard Asset Management LLC lifted its stake in shares of NewJersey Resources by 6,245.8% during the fourth quarter. Lazard Asset Management LLC now owns 1,523 shares of the utilities provider's stock worth $71,000 after buying an additional 1,499 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Patrick J. Migliaccio sold 1,500 shares of the firm's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $44.22, for a total transaction of $66,330.00. Following the sale, the chief operating officer directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is currently owned by insiders.

NewJersey Resources Stock Performance

Shares of NewJersey Resources stock traded up $0.8730 during trading on Friday, hitting $47.8830. 492,188 shares of the company's stock were exchanged, compared to its average volume of 618,437. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.48 and a current ratio of 0.76. The business has a 50-day simple moving average of $45.89 and a 200-day simple moving average of $46.92. 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 $4.81 billion, a price-to-earnings ratio of 11.71 and a beta of 0.64.

NewJersey Resources (NYSE:NJR - Get Free Report) last issued its earnings results 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 net margin of 19.64% and a return on equity of 17.08%. The firm had revenue of $298.95 million during the quarter, compared to analysts' expectations of $305.05 million. During the same quarter last year, the company posted ($0.09) earnings per share. The firm's revenue was up 8.5% compared to the same quarter last year. On average, research analysts forecast that NewJersey Resources Corporation will post 3.15 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on NJR. Wells Fargo & Company lifted their price objective on shares of NewJersey Resources from $51.00 to $53.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Wall Street Zen upgraded shares of NewJersey Resources from a "sell" rating to a "hold" rating in a research note on Friday. Mizuho lowered their price objective on shares of 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 reiterated 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. Finally, JPMorgan Chase & Co. lowered their price objective on shares of 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 equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, NewJersey Resources presently has an average rating of "Hold" and a consensus target price of $51.43.

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.