SG Americas Securities LLC Has $424,000 Stock Position in NewJersey Resources Corporation (NYSE:NJR)

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

A number of other hedge funds have also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC bought a new stake in shares of NewJersey Resources during the fourth quarter valued at approximately $42,000. Ameriflex Group Inc. bought a new stake in shares of NewJersey Resources during the fourth quarter valued at approximately $51,000. Lazard Asset Management LLC increased its holdings 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 valued at $71,000 after acquiring an additional 1,499 shares in the last quarter. Quarry LP increased its holdings in shares of NewJersey Resources by 13,692.3% during the fourth quarter. Quarry LP now owns 1,793 shares of the utilities provider's stock valued at $84,000 after acquiring an additional 1,780 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in NewJersey Resources by 107.9% during the first quarter. UMB Bank n.a. now owns 1,744 shares of the utilities provider's stock worth $86,000 after buying an additional 905 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their price target on NewJersey Resources from $56.00 to $51.00 and set an "overweight" rating for the company in a report on Wednesday, May 28th. Mizuho decreased their price target on NewJersey Resources from $52.00 to $50.00 and set a "neutral" rating for the company in a report on Thursday, May 15th. Raymond James Financial assumed coverage on NewJersey Resources in a report on Friday, June 13th. They set an "outperform" rating and a $49.00 price target for the company. Wall Street Zen upgraded NewJersey Resources from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, Wells Fargo & Company upped 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. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, NewJersey Resources presently has an average rating of "Hold" and a consensus target price of $51.29.

NewJersey Resources Stock Down 0.3%

NJR stock opened at $45.14 on Wednesday. The stock's fifty day simple moving average is $46.71 and its two-hundred day simple moving average is $47.16. The company has a current ratio of 0.93, a quick ratio of 0.73 and a debt-to-equity ratio of 1.20. NewJersey Resources Corporation has a 1-year low of $41.68 and a 1-year high of $51.95. The stock has a market cap of $4.53 billion, a P/E ratio of 10.96 and a beta of 0.62.

NewJersey Resources (NYSE:NJR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The utilities provider reported $1.76 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $732.00 million. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The business's revenue was up 38.8% on a year-over-year basis. Analysts expect that NewJersey Resources Corporation will post 3.15 EPS for the current year.

NewJersey Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.99%. NewJersey Resources's dividend payout ratio is presently 43.69%.

Insider Activity

In other 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 transaction, the chief operating officer now owns 35,690 shares of the company's stock, valued at $1,578,211.80. This represents a 4.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Roberto Bel sold 1,173 shares of the company's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $50.00, for a total value of $58,650.00. Following the transaction, the chief financial officer now directly owns 22,649 shares in the company, valued at $1,132,450. This represents a 4.92% decrease in their position. The disclosure for this sale can be found here. 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.

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