New Jersey Resources Co. (NYSE:NJR - Get Free Report) CFO Roberto Bel sold 1,173 shares of the company's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $50.00, for a total transaction of $58,650.00. Following the completion of the sale, the chief financial officer now directly owns 22,649 shares in the company, valued at $1,132,450. This represents a 4.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Roberto Bel also recently made the following trade(s):
- On Monday, March 24th, Roberto Bel sold 2,346 shares of New Jersey Resources stock. The stock was sold at an average price of $48.58, for a total transaction of $113,968.68.
New Jersey Resources Stock Performance
Shares of NJR opened at $49.16 on Wednesday. The company has a market cap of $4.93 billion, a price-to-earnings ratio of 14.81 and a beta of 0.57. The business's fifty day simple moving average is $47.65 and its two-hundred day simple moving average is $47.42. New Jersey Resources Co. has a 12 month low of $40.62 and a 12 month high of $51.95. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 1.29.
New Jersey Resources (NYSE:NJR - Get Free Report) last released its quarterly earnings data on Monday, February 3rd. The utilities provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.14 by $0.15. New Jersey Resources had a return on equity of 15.72% and a net margin of 18.25%. During the same quarter in the previous year, the firm earned $0.74 EPS. Research analysts anticipate that New Jersey Resources Co. will post 3.15 earnings per share for the current fiscal year.
New Jersey Resources Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 11th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.80 annualized dividend and a dividend yield of 3.66%. New Jersey Resources's payout ratio is 54.22%.
Institutional Investors Weigh In On New Jersey Resources
Several institutional investors and hedge funds have recently added to or reduced their stakes in NJR. Citigroup Inc. lifted its holdings in shares of New Jersey Resources by 153.1% during the 3rd quarter. Citigroup Inc. now owns 93,876 shares of the utilities provider's stock valued at $4,431,000 after buying an additional 56,789 shares during the period. Quantbot Technologies LP bought a new position in New Jersey Resources in the third quarter valued at about $1,001,000. BNP Paribas Financial Markets boosted its position in New Jersey Resources by 30.3% in the third quarter. BNP Paribas Financial Markets now owns 48,624 shares of the utilities provider's stock worth $2,295,000 after purchasing an additional 11,319 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of New Jersey Resources by 4.4% during the 3rd quarter. Captrust Financial Advisors now owns 15,639 shares of the utilities provider's stock valued at $738,000 after purchasing an additional 652 shares during the period. Finally, FSA Wealth Management LLC purchased a new stake in shares of New Jersey Resources during the 3rd quarter valued at about $27,000. Hedge funds and other institutional investors own 70.98% of the company's stock.
Analyst Upgrades and Downgrades
NJR has been the subject of several recent research reports. StockNews.com upgraded shares of New Jersey Resources from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. reduced their price objective on New Jersey Resources from $54.00 to $52.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. Guggenheim boosted their target price on New Jersey Resources from $53.00 to $54.00 and gave the stock a "neutral" rating in a report on Wednesday, February 5th. Finally, Jefferies Financial Group assumed coverage on New Jersey Resources in a report on Tuesday. They set a "hold" rating and a $51.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, New Jersey Resources has a consensus rating of "Hold" and an average target price of $51.60.
Read Our Latest Stock Report on New Jersey Resources
About New Jersey Resources
(
Get Free Report)
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.
Further Reading
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