Todays Report: Today, Strs Ohio decides to keep it stake in New Jersey Resources Corp. (NJR) to the level of $358,000

Today, Strs Ohio decides to keep it stake in New Jersey Resources Corp. (NJR) to the level of $358,000

Strs Ohio decreased its position in New Jersey Resources Corp. (NYSE:NJR) by 19.3% during the third quarter, Holdings Channel reports. The institutional investor owned 10,900 shares of the company’s stock after selling 2,600 shares during the period. Strs Ohio’s holdings in New Jersey Resources Corp. were worth $358,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in New Jersey Resources Corp. by 0.8% in the first quarter. Geode Capital Management LLC now owns 592,209 shares of the company’s stock worth $21,574,000 after buying an additional 4,848 shares during the last quarter. AMP Capital Investors Ltd boosted its stake in New Jersey Resources Corp. by 3.4% in the first quarter. AMP Capital Investors Ltd now owns 48,292 shares of the company’s stock worth $1,755,000 after buying an additional 1,600 shares during the last quarter. Legal & General Group Plc boosted its stake in New Jersey Resources Corp. by 0.4% in the first quarter. Legal & General Group Plc now owns 61,317 shares of the company’s stock worth $2,224,000 after buying an additional 245 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in New Jersey Resources Corp. by 7.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 7,820 shares of the company’s stock worth $285,000 after buying an additional 550 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its stake in New Jersey Resources Corp. by 125.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 135,737 shares of the company’s stock worth $4,945,000 after buying an additional 75,547 shares during the last quarter. 60.21% of the stock is currently owned by hedge funds and other institutional investors.

Shares of New Jersey Resources Corp. (NYSE:NJR) traded up 1.61% during midday trading on Friday, reaching $34.75. The company had a trading volume of 167,819 shares. The company has a 50 day moving average of $33.09 and a 200 day moving average of $34.92. New Jersey Resources Corp. has a 12-month low of $28.02 and a 12-month high of $38.92. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 22.86 and a beta of 0.38.

New Jersey Resources Corp. (NYSE:NJR) last posted its quarterly earnings data on Tuesday, November 22nd. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by $0.03. The firm earned $469.24 million during the quarter, compared to the consensus estimate of $449.98 million. New Jersey Resources Corp. had a return on equity of 11.54% and a net margin of 6.91%. New Jersey Resources Corp.’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.05 EPS. Analysts anticipate that New Jersey Resources Corp. will post $1.79 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Thursday, December 15th will be issued a $0.255 dividend. This is an increase from New Jersey Resources Corp.’s previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, December 13th. This represents a $1.02 dividend on an annualized basis and a yield of 2.94%. New Jersey Resources Corp.’s dividend payout ratio is 64.43%.

A number of research firms have recently commented on NJR. Guggenheim began coverage on New Jersey Resources Corp. in a research note on Thursday, November 3rd. They set a “buy” rating and a $36.00 target price on the stock. TheStreet cut New Jersey Resources Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 31st. Zacks Investment Research upgraded New Jersey Resources Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, October 25th. Finally, Argus reiterated a “buy” rating and set a $42.00 target price on shares of New Jersey Resources Corp. in a research note on Friday, September 16th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. New Jersey Resources Corp. currently has an average rating of “Hold” and a consensus price target of $37.10.

About New Jersey Resources Corp.

New Jersey Resources Corporation (NJR) is an energy services holding company that provides retail and wholesale energy services to customers primarily in the Gulf Coast, Mid-Continent, Appalachian, Northeastern, and Western market areas of the United States, as well as Canada. The Company operates within four reportable business segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services and Midstream (formerly Energy Holdings).

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