Universal Beteiligungs und Servicegesellschaft mbH Takes Position in NewJersey Resources Corporation (NYSE:NJR)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired a new stake of 33,578 shares in NewJersey Resources Corporation, valued at approximately $1,647,000, as part of a trend where several institutional investors increased their holdings in the company.
• The Chief Operating Officer, Patrick J. Migliaccio, sold 1,500 shares at an average price of $44.22, decreasing his position by 4.03% but still retaining 35,690 shares valued at about $1.57 million.
• Analysts have mixed ratings on NewJersey Resources, with a consensus rating of "Hold" and a target price of approximately $51.29, following recent reports from firms like Raymond James and Wells Fargo.

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of NewJersey Resources Corporation (NYSE:NJR - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 33,578 shares of the utilities provider's stock, valued at approximately $1,647,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised 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 valued at $154,372,000 after purchasing an additional 216,000 shares during the last quarter. Wells Fargo & Company MN raised its position in 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 worth $120,891,000 after buying an additional 32,413 shares during the last quarter. Norges Bank purchased a new position in NewJersey Resources during the 4th quarter worth approximately $73,124,000. Millennium Management LLC raised its position in NewJersey Resources by 66.0% during the 4th quarter. Millennium Management LLC now owns 1,363,495 shares of the utilities provider's stock worth $63,607,000 after buying an additional 542,089 shares during the last quarter. Finally, Northern Trust Corp raised its position in 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 buying an additional 210,538 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

NewJersey Resources Stock Up 0.3%

Shares of NJR stock traded up $0.16 during trading hours on Tuesday, reaching $46.37. 269,503 shares of the stock were exchanged, compared to its average volume of 626,654. The business's fifty day moving average is $45.37 and its two-hundred day moving average is $46.94. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.93 and a quick ratio of 0.73. NewJersey Resources Corporation has a 12-month low of $42.33 and a 12-month high of $51.94. The firm has a market capitalization of $4.65 billion, a P/E ratio of 11.24 and a beta of 0.64.

NewJersey Resources (NYSE:NJR - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.12. The firm had revenue of $298.95 million during the quarter, compared to the consensus estimate of $305.05 million. NewJersey Resources had a return on equity of 16.95% and a net margin of 20.03%. The firm's quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.09) earnings per share. As a group, research analysts expect that NewJersey Resources Corporation will post 3.15 EPS for the current fiscal year.

Analysts Set New Price Targets

NJR has been the subject of a number of recent research reports. Wall Street Zen raised shares of NewJersey Resources from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Mizuho reduced their price target on shares of NewJersey Resources from $52.00 to $50.00 and set a "neutral" rating for the company in a research report on Thursday, May 15th. Wells Fargo & Company raised 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 note on Wednesday, May 7th. JPMorgan Chase & Co. dropped their price objective on shares of NewJersey Resources from $56.00 to $51.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 28th. Finally, Raymond James Financial started coverage on shares of NewJersey Resources in a research note on Friday, June 13th. They set an "outperform" rating and a $49.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $51.29.

Insider Transactions at NewJersey Resources

In related news, COO Patrick J. Migliaccio sold 1,500 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $44.22, for a total value of $66,330.00. Following the completion of the transaction, the chief operating officer directly owned 35,690 shares of the company's stock, valued at $1,578,211.80. This represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.72% of the stock is owned by company insiders.

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.