New Jersey Resources Corp (NJR) Shares Sold by Bowling Portfolio Management LLC

Bowling Portfolio Management LLC lessened its position in shares of New Jersey Resources Corp (NYSE:NJR) by 11.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,040 shares of the utilities provider’s stock after selling 6,028 shares during the quarter. Bowling Portfolio Management LLC owned 0.05% of New Jersey Resources worth $2,122,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of NJR. BlackRock Inc. grew its stake in New Jersey Resources by 2.8% during the 2nd quarter. BlackRock Inc. now owns 11,764,741 shares of the utilities provider’s stock valued at $526,471,000 after purchasing an additional 323,801 shares during the last quarter. Retirement Systems of Alabama grew its stake in New Jersey Resources by 196.2% during the 2nd quarter. Retirement Systems of Alabama now owns 335,605 shares of the utilities provider’s stock valued at $15,018,000 after purchasing an additional 222,318 shares during the last quarter. Summit Trail Advisors LLC grew its stake in New Jersey Resources by 4,265.0% during the 1st quarter. Summit Trail Advisors LLC now owns 225,059 shares of the utilities provider’s stock valued at $225,000 after purchasing an additional 219,903 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of New Jersey Resources by 12.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,787,711 shares of the utilities provider’s stock worth $80,001,000 after buying an additional 200,006 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of New Jersey Resources by 17.4% in the second quarter. FMR LLC now owns 1,102,865 shares of the utilities provider’s stock worth $49,353,000 after buying an additional 163,226 shares during the last quarter. Institutional investors and hedge funds own 66.42% of the company’s stock.

Shares of NJR opened at $45.94 on Friday. New Jersey Resources Corp has a 52 week low of $35.55 and a 52 week high of $47.93. The company has a current ratio of 1.45, a quick ratio of 1.16 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $4.07 billion, a PE ratio of 26.55, a P/E/G ratio of 2.49 and a beta of 0.19.

New Jersey Resources (NYSE:NJR) last issued its earnings results on Tuesday, August 7th. The utilities provider reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.11). New Jersey Resources had a return on equity of 18.68% and a net margin of 7.60%. The company had revenue of $543.44 million during the quarter, compared to analysts’ expectations of $496.70 million. During the same quarter in the previous year, the company earned $0.20 EPS. On average, research analysts predict that New Jersey Resources Corp will post 2.65 EPS for the current fiscal year.

A number of analysts have recently commented on NJR shares. Wells Fargo & Co upped their target price on New Jersey Resources from $45.00 to $47.00 and gave the stock a “market perform” rating in a research note on Monday, September 17th. Guggenheim downgraded New Jersey Resources from a “buy” rating to a “neutral” rating in a research note on Monday, September 10th. They noted that the move was a valuation call. Zacks Investment Research upgraded New Jersey Resources from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Thursday, August 9th. Finally, ValuEngine upgraded New Jersey Resources from a “hold” rating to a “buy” rating in a research note on Tuesday, October 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $47.50.

About New Jersey Resources

New Jersey Resources Corporation, an energy services holding company, provides regulated gas distribution, and retail and wholesale energy services. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Midstream segments. The Natural Gas Distribution segment offers regulated retail natural gas services to approximately 529,800 residential and commercial customers in central and northern New Jersey; provides storage management services; and participates in the off-system sales and capacity release markets.

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Institutional Ownership by Quarter for New Jersey Resources (NYSE:NJR)

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