Inspire Investing LLC Has $402,000 Stock Holdings in NewJersey Resources Corporation $NJR

Inspire Investing LLC increased its holdings in shares of NewJersey Resources Corporation (NYSE:NJR) by 27.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,964 shares of the utilities provider’s stock after buying an additional 1,934 shares during the period. Inspire Investing LLC’s holdings in NewJersey Resources were worth $402,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in NJR. Crews Bank & Trust acquired a new stake in NewJersey Resources during the 1st quarter worth approximately $37,000. Hexagon Capital Partners LLC lifted its position in shares of NewJersey Resources by 42.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 839 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 248 shares during the period. IFP Advisors Inc lifted its position in shares of NewJersey Resources by 23.1% in the 2nd quarter. IFP Advisors Inc now owns 1,504 shares of the utilities provider’s stock worth $67,000 after purchasing an additional 282 shares during the period. Brooklyn Investment Group lifted its position in shares of NewJersey Resources by 1,715.4% in the 1st quarter. Brooklyn Investment Group now owns 1,416 shares of the utilities provider’s stock worth $69,000 after purchasing an additional 1,338 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in shares of NewJersey Resources by 83.7% in the 1st quarter. Farther Finance Advisors LLC now owns 1,859 shares of the utilities provider’s stock worth $91,000 after purchasing an additional 847 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

NewJersey Resources Stock Down 1.2%

NewJersey Resources stock opened at $45.17 on Tuesday. The company has a quick ratio of 0.48, a current ratio of 0.76 and a debt-to-equity ratio of 1.25. NewJersey Resources Corporation has a 12-month low of $43.80 and a 12-month high of $51.94. The firm’s fifty day moving average is $46.96 and its 200 day moving average is $46.72. The company has a market capitalization of $4.54 billion, a PE ratio of 11.04 and a beta of 0.64.

NewJersey Resources (NYSE:NJR) last released its earnings results on Friday, May 19th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter. NewJersey Resources had a net margin of 19.64% and a return on equity of 17.08%. The company had revenue of $912.32 million for the quarter. As a group, sell-side analysts predict that NewJersey Resources Corporation will post 3.15 EPS for the current fiscal year.

NewJersey Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 22nd were issued a dividend of $0.475 per share. The ex-dividend date was Monday, September 22nd. This is a positive change from NewJersey Resources’s previous quarterly dividend of $0.45. This represents a $1.90 annualized dividend and a yield of 4.2%. NewJersey Resources’s dividend payout ratio is currently 46.45%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NJR. Wall Street Zen downgraded shares of NewJersey Resources from a “hold” rating to a “sell” rating in a research report on Saturday. Raymond James Financial restated an “outperform” rating and issued a $50.00 price target (up previously from $49.00) on shares of NewJersey Resources in a research report on Friday, August 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of NewJersey Resources in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $51.43.

NewJersey 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.