EntryPoint Capital LLC Makes New Investment in New Jersey Resources Co. (NYSE:NJR)

EntryPoint Capital LLC bought a new position in shares of New Jersey Resources Co. (NYSE:NJR) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,923 shares of the utilities provider’s stock, valued at approximately $125,000.

A number of other institutional investors and hedge funds also recently modified their holdings of NJR. Parkside Financial Bank & Trust acquired a new stake in shares of New Jersey Resources during the fourth quarter worth $29,000. Headlands Technologies LLC bought a new position in shares of New Jersey Resources during the fourth quarter worth about $31,000. Heritage Wealth Advisors bought a new position in shares of New Jersey Resources during the fourth quarter worth about $31,000. GAMMA Investing LLC bought a new position in shares of New Jersey Resources during the fourth quarter worth about $40,000. Finally, TFO Wealth Partners LLC grew its position in shares of New Jersey Resources by 299,100.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,992 shares of the utilities provider’s stock worth $133,000 after acquiring an additional 2,991 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NJR has been the subject of a number of recent analyst reports. Argus upgraded shares of New Jersey Resources to a “strong-buy” rating in a research report on Monday, June 10th. StockNews.com upgraded shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Thursday, May 16th. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $45.00.

Insider Buying and Selling at New Jersey Resources

In other New Jersey Resources news, CEO Stephen D. Westhoven sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $42.82, for a total transaction of $856,400.00. Following the transaction, the chief executive officer now owns 198,705 shares in the company, valued at $8,508,548.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Stephen D. Westhoven sold 20,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $42.82, for a total value of $856,400.00. Following the sale, the chief executive officer now owns 198,705 shares in the company, valued at $8,508,548.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Stephen D. Westhoven sold 3,400 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $45.00, for a total transaction of $153,000.00. Following the completion of the sale, the chief executive officer now owns 195,305 shares in the company, valued at approximately $8,788,725. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock worth $2,207,996 over the last 90 days. Insiders own 0.75% of the company’s stock.

New Jersey Resources Trading Up 0.3 %

NJR stock traded up $0.15 during mid-day trading on Friday, reaching $46.73. 94,054 shares of the stock traded hands, compared to its average volume of 510,107. The stock’s fifty day moving average is $43.41 and its 200-day moving average is $42.79. The company has a current ratio of 0.70, a quick ratio of 0.56 and a debt-to-equity ratio of 1.25. The company has a market cap of $4.62 billion, a P/E ratio of 18.42 and a beta of 0.60. New Jersey Resources Co. has a 52-week low of $38.92 and a 52-week high of $47.05.

New Jersey Resources (NYSE:NJR) last posted its quarterly earnings results on Tuesday, May 7th. The utilities provider reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.08. The business had revenue of $657.91 million during the quarter, compared to analyst estimates of $669.64 million. New Jersey Resources had a net margin of 14.46% and a return on equity of 12.16%. As a group, sell-side analysts expect that New Jersey Resources Co. will post 2.95 earnings per share for the current year.

New Jersey Resources Company 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.