Today, State of Wisconsin Investment Board decides to keep it stake in New Jersey Resources Corp. (NJR) to the level of $3,954,000

Today, State of Wisconsin Investment Board decides to keep it stake in New Jersey Resources Corp. (NJR) to the level of $3,954,000

State of Wisconsin Investment Board held its stake in shares of New Jersey Resources Corp. (NYSE:NJR) during the third quarter, Holdings Channel reports. The fund owned 120,320 shares of the company’s stock at the end of the third quarter. State of Wisconsin Investment Board’s holdings in New Jersey Resources Corp. were worth $3,954,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Wells Fargo & Company MN boosted its stake in shares of New Jersey Resources Corp. by 4.3% in the third quarter. Wells Fargo & Company MN now owns 767,486 shares of the company’s stock worth $25,220,000 after buying an additional 31,443 shares during the period. Shinko Asset Management Co. Ltd. boosted its stake in shares of New Jersey Resources Corp. by 8.1% in the third quarter. Shinko Asset Management Co. Ltd. now owns 9,905 shares of the company’s stock worth $325,000 after buying an additional 745 shares during the period. Alpha Windward LLC acquired a new stake in shares of New Jersey Resources Corp. during the third quarter worth $414,000. Bank of Montreal Can boosted its stake in shares of New Jersey Resources Corp. by 10.4% in the third quarter. Bank of Montreal Can now owns 33,439 shares of the company’s stock worth $1,099,000 after buying an additional 3,137 shares during the period. Finally, Moody Aldrich Partners LLC boosted its stake in shares of New Jersey Resources Corp. by 10.1% in the third quarter. Moody Aldrich Partners LLC now owns 37,635 shares of the company’s stock worth $1,237,000 after buying an additional 3,445 shares during the period. 60.49% of the stock is owned by hedge funds and other institutional investors.

Shares of New Jersey Resources Corp. (NYSE:NJR) traded up 0.72% during midday trading on Monday, hitting $35.00. 356,017 shares of the stock were exchanged. The stock’s 50 day moving average is $33.09 and its 200 day moving average is $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 cap of $3.01 billion, a P/E ratio of 23.03 and a beta of 0.38.

New Jersey Resources Corp. (NYSE:NJR) last released its earnings results 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. New Jersey Resources Corp. had a return on equity of 11.54% and a net margin of 6.91%. The company earned $469.24 million during the quarter, compared to analysts’ expectations of $449.98 million. During the same quarter in the previous year, the company earned $0.05 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts forecast that New Jersey Resources Corp. will post $1.79 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Thursday, December 15th will be issued a dividend of $0.255 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.91%. This is an increase from New Jersey Resources Corp.’s previous quarterly dividend of $0.24. New Jersey Resources Corp.’s dividend payout ratio (DPR) is currently 64.43%.

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

New Jersey Resources Corp. Company Profile

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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