Point72 DIFC Ltd Takes Position in New Jersey Resources Co. (NYSE:NJR)

Point72 DIFC Ltd acquired a new position in New Jersey Resources Co. (NYSE:NJR) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,435 shares of the utilities provider’s stock, valued at approximately $115,000.

Other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of New Jersey Resources by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,956,772 shares of the utilities provider’s stock worth $126,372,000 after purchasing an additional 154,441 shares in the last quarter. Bank of New York Mellon Corp increased its stake in New Jersey Resources by 3.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,284,245 shares of the utilities provider’s stock valued at $54,889,000 after buying an additional 40,094 shares during the period. Charles Schwab Investment Management Inc. lifted its position in New Jersey Resources by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,227,815 shares of the utilities provider’s stock worth $57,953,000 after buying an additional 33,772 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of New Jersey Resources by 39.9% during the 2nd quarter. AQR Capital Management LLC now owns 618,379 shares of the utilities provider’s stock valued at $26,430,000 after buying an additional 176,396 shares during the period. Finally, Segall Bryant & Hamill LLC grew its holdings in shares of New Jersey Resources by 4.4% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 422,000 shares of the utilities provider’s stock valued at $19,918,000 after acquiring an additional 17,664 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Mizuho increased their price objective on New Jersey Resources from $45.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Guggenheim lifted their price target on New Jersey Resources from $46.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. boosted their price target on New Jersey Resources from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. StockNews.com raised shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company boosted their target price on shares of New Jersey Resources from $51.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Five research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $49.75.

New Jersey Resources Stock Down 1.2 %

NJR opened at $49.18 on Monday. The firm has a market cap of $4.91 billion, a P/E ratio of 16.84 and a beta of 0.63. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.36 and a current ratio of 0.62. The business has a 50 day moving average price of $47.59 and a 200 day moving average price of $45.74. New Jersey Resources Co. has a twelve month low of $39.44 and a twelve month high of $51.94.

New Jersey Resources (NYSE:NJR) last issued its quarterly earnings data on Monday, November 25th. The utilities provider reported $0.89 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.89. The business had revenue of $395.78 million during the quarter, compared to analysts’ expectations of $406.97 million. New Jersey Resources had a net margin of 16.13% and a return on equity of 13.54%. New Jersey Resources’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.30 earnings per share. Research analysts forecast that New Jersey Resources Co. will post 3.05 EPS for the current year.

New Jersey Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend is Wednesday, December 11th. New Jersey Resources’s dividend payout ratio is currently 61.64%.

New Jersey Resources 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.