Teacher Retirement System of Texas Has $1.47 Million Position in NewJersey Resources Corporation (NYSE:NJR)

Teacher Retirement System of Texas decreased its position in shares of NewJersey Resources Corporation (NYSE:NJR - Free Report) by 41.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,015 shares of the utilities provider's stock after selling 21,599 shares during the period. Teacher Retirement System of Texas' holdings in NewJersey Resources were worth $1,473,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew 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 buying an additional 216,000 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of NewJersey Resources by 1.3% during the 4th quarter. Wells Fargo & Company MN now owns 2,591,445 shares of the utilities provider's stock valued at $120,891,000 after acquiring an additional 32,413 shares in the last quarter. Norges Bank purchased a new position in shares of NewJersey Resources during the 4th quarter valued at $73,124,000. Millennium Management LLC grew its holdings in shares of NewJersey Resources by 66.0% during the 4th quarter. Millennium Management LLC now owns 1,363,495 shares of the utilities provider's stock valued at $63,607,000 after acquiring an additional 542,089 shares in the last quarter. Finally, Northern Trust Corp grew its holdings 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 valued at $62,994,000 after acquiring an additional 210,538 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Activity 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 shares were sold at an average price of $44.22, for a total value 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 represents a 4.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is currently owned by corporate insiders.

NewJersey Resources Price Performance

Shares of NJR traded down $0.28 during mid-day trading on Friday, hitting $45.73. 560,913 shares of the company traded hands, compared to its average volume of 553,237. NewJersey Resources Corporation has a one year low of $42.33 and a one year high of $51.95. The company has a current ratio of 0.93, a quick ratio of 0.73 and a debt-to-equity ratio of 1.20. The business has a 50-day moving average of $45.64 and a 200 day moving average of $46.98. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of 11.10 and a beta of 0.61.

NewJersey Resources (NYSE:NJR - Get Free Report) last announced its quarterly earnings data 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. NewJersey Resources had a net margin of 20.03% and a return on equity of 16.95%. The firm had revenue of $913.03 million for the quarter, compared to analysts' expectations of $732.00 million. During the same period last year, the firm earned $1.41 earnings per share. The business's revenue for the quarter was up 38.8% on a year-over-year basis. As a group, equities analysts expect that NewJersey Resources Corporation will post 3.15 earnings per share for the current fiscal year.

NewJersey Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date was Tuesday, June 10th. NewJersey Resources's dividend payout ratio is currently 43.69%.

Wall Street Analysts Forecast Growth

NJR has been the subject of a number of recent research reports. Mizuho decreased their price objective on shares of NewJersey Resources from $52.00 to $50.00 and set a "neutral" rating for the company in a report on Thursday, May 15th. Wall Street Zen raised shares of NewJersey Resources from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Jefferies Financial Group initiated coverage on shares of NewJersey Resources in a research report on Tuesday, April 1st. They set a "hold" rating and a $51.00 price objective for the company. Wells Fargo & Company increased their price target 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. Finally, New Street Research set a $51.00 price target on shares of NewJersey Resources in a research report on Tuesday, April 1st. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, NewJersey Resources presently has a consensus rating of "Hold" and a consensus target price 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.