Free Trial

601,493 Shares in NewJersey Resources Corporation $NJR Bought by Nuveen LLC

NewJersey Resources logo with Utilities background

Nuveen LLC acquired a new position in shares of NewJersey Resources Corporation (NYSE:NJR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 601,493 shares of the utilities provider's stock, valued at approximately $29,509,000. Nuveen LLC owned 0.60% of NewJersey Resources as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Millennium Management LLC boosted its holdings in NewJersey Resources by 66.0% in the fourth quarter. Millennium Management LLC now owns 1,363,495 shares of the utilities provider's stock worth $63,607,000 after acquiring an additional 542,089 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in NewJersey Resources by 7.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,309,166 shares of the utilities provider's stock worth $154,372,000 after purchasing an additional 216,000 shares during the last quarter. Northern Trust Corp increased its holdings in 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 buying an additional 210,538 shares during the last quarter. GAMMA Investing LLC grew its position 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 acquiring an additional 140,722 shares during the period. Finally, Point72 Asset Management L.P. raised its stake in shares of NewJersey Resources by 67.6% in the fourth quarter. Point72 Asset Management L.P. now owns 305,102 shares of the utilities provider's stock valued at $14,233,000 after buying an additional 123,100 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

NewJersey Resources Price Performance

Shares of NewJersey Resources stock traded up $0.7460 during trading hours on Friday, reaching $47.7560. The company's stock had a trading volume of 86,205 shares, compared to its average volume of 623,115. The stock has a market cap of $4.80 billion, a P/E ratio of 11.67 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. The firm has a 50 day moving average price of $45.83 and a 200-day moving average price of $46.91. NewJersey Resources Corporation has a one year low of $43.80 and a one year high of $51.94.

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

Insider Activity at NewJersey Resources

In related news, COO Patrick J. Migliaccio sold 1,500 shares of NewJersey Resources 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 sale, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.72% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Raymond James Financial reiterated an "outperform" rating and issued a $50.00 price target (up from $49.00) on shares of NewJersey Resources in a research report on Friday, August 8th. Wall Street Zen lowered NewJersey Resources from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Mizuho lowered their price target 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. 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. Finally, Wells Fargo & Company upped their target price on shares of NewJersey Resources from $51.00 to $53.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. 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 data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $51.43.

Read Our Latest Analysis on NJR

NewJersey Resources Company Profile

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for NewJersey Resources (NYSE:NJR)

Should You Invest $1,000 in NewJersey Resources Right Now?

Before you consider NewJersey Resources, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NewJersey Resources wasn't on the list.

While NewJersey Resources currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Energy Stocks to Buy and Hold Forever Cover

With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

NVIDIA Earnings: All Signs Point to More Growth Ahead
3 Quiet Growth Stocks With Major Momentum
The Market’s Next Big Winners? Start Here

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines