Teza Capital Management LLC Decreases Stock Holdings in New Jersey Resources Co. (NYSE:NJR)

Teza Capital Management LLC lowered its stake in New Jersey Resources Co. (NYSE:NJR - Free Report) by 40.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,654 shares of the utilities provider's stock after selling 6,487 shares during the quarter. Teza Capital Management LLC's holdings in New Jersey Resources were worth $450,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in NJR. Barclays PLC grew its holdings in shares of New Jersey Resources by 140.0% in the third quarter. Barclays PLC now owns 189,827 shares of the utilities provider's stock worth $8,959,000 after acquiring an additional 110,723 shares during the period. UMB Bank n.a. boosted its position in New Jersey Resources by 69.8% in the fourth quarter. UMB Bank n.a. now owns 839 shares of the utilities provider's stock worth $39,000 after purchasing an additional 345 shares during the last quarter. Atwood & Palmer Inc. bought a new stake in shares of New Jersey Resources during the 4th quarter valued at about $125,000. Janney Montgomery Scott LLC increased its position in shares of New Jersey Resources by 17.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 206,209 shares of the utilities provider's stock valued at $9,620,000 after purchasing an additional 30,355 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in shares of New Jersey Resources by 0.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 225,250 shares of the utilities provider's stock worth $10,508,000 after purchasing an additional 1,988 shares during the period. Institutional investors own 70.98% of the company's stock.

Insiders Place Their Bets

In other news, CFO Roberto Bel sold 1,173 shares of the company's stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 22,649 shares of the company's stock, valued at $1,132,450. This represents a 4.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.72% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on NJR shares. Mizuho decreased their price target on shares of New Jersey Resources from $52.00 to $50.00 and set a "neutral" rating on the stock in a research report on Thursday, May 15th. Wells Fargo & Company lifted their target price on New Jersey Resources from $51.00 to $53.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Jefferies Financial Group started coverage on New Jersey Resources in a research report on Tuesday, April 1st. They issued a "hold" rating and a $51.00 price target for the company. New Street Research set a $51.00 price objective on New Jersey Resources in a research report on Tuesday, April 1st. Finally, JPMorgan Chase & Co. reduced their target price on shares of New Jersey Resources from $54.00 to $52.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, New Jersey Resources presently has an average rating of "Hold" and a consensus price target of $51.83.

New Jersey Resources Stock Performance

NYSE NJR opened at $47.06 on Tuesday. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 1.29. New Jersey Resources Co. has a twelve month low of $41.58 and a twelve month high of $51.95. The business has a 50-day moving average price of $48.40 and a 200-day moving average price of $47.84. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of 14.17 and a beta of 0.66.

New Jersey 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. The business had revenue of $913.03 million during the quarter, compared to analyst estimates of $732.00 million. New Jersey Resources had a net margin of 18.25% and a return on equity of 15.72%. The company's revenue was up 38.8% on a year-over-year basis. During the same period last year, the firm posted $1.41 EPS. As a group, equities research analysts predict that New Jersey Resources Co. will post 3.15 EPS for the current fiscal year.

New Jersey Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.80 dividend on an annualized basis and a yield of 3.82%. New Jersey Resources's dividend payout ratio is currently 43.69%.

New Jersey Resources 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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