Segall Bryant & Hamill LLC Trims Holdings in NewJersey Resources Corporation (NYSE:NJR)

Segall Bryant & Hamill LLC cut its stake in shares of NewJersey Resources Corporation (NYSE:NJR - Free Report) by 8.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 362,653 shares of the utilities provider's stock after selling 33,480 shares during the quarter. Segall Bryant & Hamill LLC owned about 0.36% of NewJersey Resources worth $17,792,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crews Bank & Trust bought a new position in shares of NewJersey Resources during the first quarter valued at $37,000. Hexagon Capital Partners LLC grew its stake in shares of NewJersey Resources by 42.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 839 shares of the utilities provider's stock valued at $41,000 after purchasing an additional 248 shares during the period. Ameriflex Group Inc. bought a new stake in shares of NewJersey Resources during the 4th quarter valued at about $51,000. Lazard Asset Management LLC grew its stake in shares of NewJersey Resources by 6,245.8% during the 4th quarter. Lazard Asset Management LLC now owns 1,523 shares of the utilities provider's stock valued at $71,000 after purchasing an additional 1,499 shares during the period. Finally, Quarry LP grew its stake in shares of NewJersey Resources by 13,692.3% during the 4th quarter. Quarry LP now owns 1,793 shares of the utilities provider's stock valued at $84,000 after purchasing an additional 1,780 shares during the period. 70.98% of the stock is currently owned by institutional investors.

NewJersey Resources Trading Down 0.1%

NewJersey Resources stock traded down $0.03 during mid-day trading on Friday, hitting $45.76. The company's stock had a trading volume of 443,022 shares, compared to its average volume of 556,347. The company has a 50 day moving average of $45.40 and a 200-day moving average of $46.96. The stock has a market cap of $4.59 billion, a PE ratio of 11.11 and a beta of 0.61. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.73 and a current ratio of 0.93. NewJersey Resources Corporation has a one year low of $42.33 and a one year high of $51.95.

NewJersey Resources (NYSE:NJR - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.65 by $0.11. NewJersey Resources had a return on equity of 16.95% and a net margin of 20.03%. The business had revenue of $913.03 million for the quarter, compared to the consensus estimate of $732.00 million. During the same quarter in the prior year, the company earned $1.41 EPS. The business's revenue was up 38.8% compared to the same quarter last year. On average, research analysts anticipate that NewJersey Resources Corporation will post 3.15 EPS for the current year.

Insider Buying and Selling at NewJersey Resources

In related news, COO Patrick J. Migliaccio sold 1,500 shares of the company's stock in a transaction on Wednesday, June 18th. The stock was 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 directly owned 35,690 shares in the company, valued at $1,578,211.80. This represents a 4.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.72% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective 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. Wells Fargo & Company boosted their price target on NewJersey Resources from $51.00 to $53.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. New Street Research set a $51.00 price target on NewJersey Resources in a report on Tuesday, April 1st. Jefferies Financial Group initiated coverage on NewJersey Resources in a report on Tuesday, April 1st. They issued a "hold" rating and a $51.00 price target on the stock. Finally, Wall Street Zen raised NewJersey Resources from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $51.29.

About NewJersey Resources

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.