NewJersey Resources Corporation (NYSE:NJR) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its position in shares of NewJersey Resources Corporation (NYSE:NJR - Free Report) by 85.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,647 shares of the utilities provider's stock after selling 49,007 shares during the quarter. SG Americas Securities LLC's holdings in NewJersey Resources were worth $424,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of NJR. Dimensional Fund Advisors LP lifted its position in shares of NewJersey Resources by 7.0% in the 4th 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 period. Wells Fargo & Company MN raised its stake in NewJersey Resources by 1.3% in the fourth quarter. Wells Fargo & Company MN now owns 2,591,445 shares of the utilities provider's stock worth $120,891,000 after buying an additional 32,413 shares in the last quarter. Norges Bank purchased a new stake in NewJersey Resources during the fourth quarter worth $73,124,000. Millennium Management LLC raised its position in shares of NewJersey Resources by 66.0% in the 4th 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. Finally, Northern Trust Corp lifted 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 worth $62,994,000 after purchasing an additional 210,538 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NJR. Wall Street Zen upgraded NewJersey Resources from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. 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 report on Wednesday, May 7th. JPMorgan Chase & Co. reduced 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. Raymond James Financial started coverage on shares of NewJersey Resources in a research note on Friday, June 13th. They issued an "outperform" rating and a $49.00 target price for the company. Finally, Mizuho cut their price target on shares of NewJersey Resources from $52.00 to $50.00 and set a "neutral" rating on the stock in a report on Thursday, May 15th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, NewJersey Resources presently has an average rating of "Hold" and an average price target of $51.29.

NewJersey Resources Stock Down 0.4%

Shares of NJR traded down $0.20 during mid-day trading on Friday, hitting $44.76. 1,350,544 shares of the company traded hands, compared to its average volume of 545,517. The company has a market capitalization of $4.49 billion, a PE ratio of 10.86 and a beta of 0.62. The company has a quick ratio of 0.73, a current ratio of 0.93 and a debt-to-equity ratio of 1.20. The business has a 50 day moving average of $46.41 and a 200 day moving average of $47.08. NewJersey Resources Corporation has a 1-year low of $41.68 and a 1-year high of $51.95.

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

NewJersey Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, June 10th. This represents a $1.80 dividend on an annualized basis and a yield of 4.02%. NewJersey Resources's dividend payout ratio is currently 43.69%.

Insider Buying and Selling at NewJersey Resources

In other news, COO Patrick J. Migliaccio sold 1,500 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $44.22, for a total value of $66,330.00. Following the sale, the chief operating officer now owns 35,690 shares in the company, valued at $1,578,211.80. This represents a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Roberto Bel sold 1,173 shares of the firm's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $50.00, for a total transaction of $58,650.00. Following the transaction, the chief financial officer now directly owns 22,649 shares of the company's stock, valued at approximately $1,132,450. This trade represents a 4.92% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

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.