State Street Corp Has $301.78 Million Position in New Jersey Resources Corp (NYSE:NJR)

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State Street Corp reduced its stake in shares of New Jersey Resources Corp (NYSE:NJR) by 3.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 6,628,362 shares of the utilities provider’s stock after selling 261,632 shares during the period. State Street Corp owned 0.07% of New Jersey Resources worth $301,779,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AllSquare Wealth Management LLC purchased a new stake in shares of New Jersey Resources during the third quarter worth $36,000. Tiedemann Advisors LLC boosted its position in New Jersey Resources by 157.2% during the third quarter. Tiedemann Advisors LLC now owns 59,795 shares of the utilities provider’s stock valued at $2,712,000 after purchasing an additional 36,550 shares during the last quarter. Great Lakes Advisors LLC grew its stake in New Jersey Resources by 12.3% in the third quarter. Great Lakes Advisors LLC now owns 10,775 shares of the utilities provider’s stock valued at $487,000 after purchasing an additional 1,184 shares in the last quarter. Eqis Capital Management Inc. grew its stake in New Jersey Resources by 9.9% in the third quarter. Eqis Capital Management Inc. now owns 9,538 shares of the utilities provider’s stock valued at $431,000 after purchasing an additional 860 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in New Jersey Resources by 14.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 565,876 shares of the utilities provider’s stock valued at $25,589,000 after purchasing an additional 69,335 shares in the last quarter. 67.70% of the stock is currently owned by institutional investors and hedge funds.

NYSE NJR opened at $42.03 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 1.15 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $3.81 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 2.47 and a beta of 0.31. New Jersey Resources Corp has a 12-month low of $40.32 and a 12-month high of $51.57. The company has a 50 day moving average price of $42.80 and a two-hundred day moving average price of $46.22.

New Jersey Resources (NYSE:NJR) last released its quarterly earnings results on Tuesday, November 19th. The utilities provider reported $0.29 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.29. New Jersey Resources had a net margin of 6.54% and a return on equity of 11.31%. The business had revenue of $479.08 million for the quarter, compared to the consensus estimate of $694.50 million. During the same quarter last year, the firm earned ($0.33) EPS. New Jersey Resources’s revenue for the quarter was down 26.0% on a year-over-year basis. As a group, equities analysts anticipate that New Jersey Resources Corp will post 2.15 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Thursday, December 19th will be given a dividend of $0.313 per share. This represents a $1.25 annualized dividend and a yield of 2.98%. This is an increase from New Jersey Resources’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, December 18th. New Jersey Resources’s dividend payout ratio is presently 64.10%.

NJR has been the subject of a number of recent research reports. Zacks Investment Research downgraded New Jersey Resources from a “hold” rating to a “sell” rating in a research note on Tuesday. ValuEngine cut New Jersey Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, TheStreet cut New Jersey Resources from a “b-” rating to a “c+” rating in a research note on Thursday, October 17th.

New Jersey Resources Profile

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 538,700 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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