The most recent 13F filing that US Bancorp DE made with the Securities and Exchange Commission revealed that during the third quarter, the company increased its interest in New Jersey Resources Co. (NYSE: NJR) by 531.1 percent. The institutional investor has 33,875 shares with the utility provider after making additional purchases during the relevant period, which added up to 28,507 shares. At the end of the most recent accounting period, the investment of $1,311,000 that US Bancorp DE had made in New Jersey Resources was considered to have reached its full potential value.
There have been transactions with other hedge funds buying and selling business stock. These transactions took place. During the third quarter, Moody’s National Bank’s Trust Division made an additional investment in New Jersey Resources by purchasing a share, bringing the bank’s total investment to approximately $388,000.During the third quarter, Strategy Asset Managers LLC added a new investment to its holding in New Jersey Resources for $339,000. This investment was made for a holding. Alps Advisors Inc. paid $350,000 for a new holding investment in New Jersey Resources during the second quarter of 2018. During the second quarter, BNP Paribas Arbitrage SA acquired an additional 38.9% of New Jersey Resources, bringing the total percentage of the company it owns to 100%. Following the acquisition of an additional 15,829 shares during the most recent quarter, BNP Paribas Arbitrage SA now owns a total of 56,473 shares of the utility services provider’s stock, which has a value of $2,515,000. The most recent fiscal quarter was used for the purchase of these shares. And lastly, during the company’s third quarter, Confluence Investment Management LLC increased its holdings in New Jersey Resources by 1.3% by purchasing additional shares of the company’s stock. Following the acquisition of 5,462 additional shares during the most recent quarter, Confluence Investment Management LLC now owns a total of 434,538 shares of the utilities provider’s stock, which has a value of $16,817,000. Because of this, the total number of shares owned by the company now amounts to 434,538 total. To the tune of 74.09% of the company’s shares, institutional investors and hedge funds hold these shares in their portfolios.
Recently, research companies, including NJR, have each issued statements regarding their findings. In a research report published on Friday, November 18, Mizuho raised its price target on New Jersey Resources from $45.00 to $46.00 and rated the company “neutral.” The report was distributed to investors. The rating that StockNews.com had previously assigned to shares of New Jersey Resources was changed from a “sell” rating to a “hold” one in a report published on Friday, January 13. StockNews.com’s revision of the rating can be found here. In a research report released on Monday, January 9, JPMorgan Chase & Co. increased their price objective on shares of New Jersey Resources from $40.00 to $46.00 and classified the company as “underweight.” In a report made public on Tuesday, January 10, Wells Fargo & Company lowered their price target on shares of New Jersey Resources from $51.00 to $50.00. This move came after they had previously set it at a higher price. The company also recommended that investors purchase the stock, rating it with an “equal weight” recommendation and giving it an overall rating of “equal weight.” Guggenheim lowered their price objective on New Jersey Resources shares from $41.00 to $40.00 and made the change effective immediately in a report published on Monday, October 24. Only one of the analysts has given the company a recommendation to sell, while the other three have suggested that investors keep their existing positions. According to Bloomberg.com, most analysts currently recommend a “Hold” rating for the company, and their stock price objective is $45.50. Additionally, they believe the stock will reach shortly at $45.50.
On Wednesday of this week, trading on the NYSE NJR got underway for $50.49. The moving average price for the company over the past fifty days is $49.96, and the moving average price over the past two hundred days is $45.62, accordingly. During the previous year, a share of New Jersey Resources Co. fluctuated between $37.79 and $51.59, with a low of $37.79 and a high of $51.59 recorded. The enterprise is currently valued at $4.87 billion, which can be attributed to several factors, including its PE ratio of 17.65, its EPS growth rate of 3.44, and its beta value of 0.63. A debt-to-equity ratio comes in at 1.37; a quick ratio comes in at 0.42; a current ratio comes in at 0.68; and a quick ratio comes in at 0.42.
New Jersey Resources (NYSE: NJR) disclosed the outcomes of its most recent quarterly earnings report on Thursday, November 17, 2018. Earnings per share (EPS) reported by the utility company for the quarter came in at $0.50, which was $0.04 more than the consensus estimate of $0.46 among industry analysts. The company’s sales for the quarter came in at $765.49 million, which is a significant increase compared to the consensus expectation of $602.80 million in sales. As can be seen, by their net margin of 9.46% and their return on equity of 13.56%, New Jersey Resources had a very successful year financially. In 2018, New Jersey Resources Company was anticipated to generate earnings of 2.48 cents per share, as stated by the projections provided by research industry professionals.
In addition, the board of directors voted in favor of a quarterly dividend, and the company paid it out on January 3 after receiving their approval. On December 14, dividend payments were made to shareholders who had already recorded them on January 3 after receiving their approval. On December 14, dividend payments were made to shareholders who had already recorded them. The amount of each dividend payment was $0.39 per share. This translates into a yield of 3.09% and an annual dividend payment of $1.56 from the company. This new amount represents an increase from the previous dividend payment from New Jersey Resources, which was $0.36 per quarter in the past. The dividend was disbursed to shareholders on Tuesday, December 13, the month of December. At this time, New Jersey Resources has a dividend payout ratio (DPR) of 54.55%.
According to other news concerning New Jersey Resources, Chief Operating Officer Patrick J. Migliaccio sold 3,000 shares of the company’s stock on Tuesday, November 22. This information was reported in another piece of news. Throughout the day, 1,478,00 shares worth a combined total of $147,000.00 were transacted at an average price of $49.16 per share. Because of this transaction, the chief operating officer now owns 40,169 shares. Based on the current stock price, these shares are worth $1,974,708.04. You might find a legal file that elaborates on the transaction on the Securities and Exchange Commission (SEC) website. Company insiders hold a total of 0.72 percent of the company’s stock.
Source: news.google.com
