John G Ullman & Associates Inc. Sells 1,333 Shares of NewJersey Resources Corporation $NJR

John G Ullman & Associates Inc. lowered its stake in shares of NewJersey Resources Corporation (NYSE:NJR) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,327 shares of the utilities provider’s stock after selling 1,333 shares during the quarter. John G Ullman & Associates Inc.’s holdings in NewJersey Resources were worth $5,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Crews Bank & Trust bought a new stake in NewJersey Resources during the first quarter valued at about $37,000. Hexagon Capital Partners LLC boosted its position in NewJersey Resources by 42.0% during the first quarter. Hexagon Capital Partners LLC now owns 839 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 248 shares in the last quarter. Brooklyn Investment Group boosted its position in NewJersey Resources by 1,715.4% during the first quarter. Brooklyn Investment Group now owns 1,416 shares of the utilities provider’s stock valued at $69,000 after purchasing an additional 1,338 shares in the last quarter. IFP Advisors Inc boosted its position in NewJersey Resources by 23.1% during the second quarter. IFP Advisors Inc now owns 1,504 shares of the utilities provider’s stock valued at $67,000 after purchasing an additional 282 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in NewJersey Resources by 83.7% during the first quarter. Farther Finance Advisors LLC now owns 1,859 shares of the utilities provider’s stock valued at $91,000 after purchasing an additional 847 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

NewJersey Resources Price Performance

Shares of NYSE NJR opened at $46.69 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.48 and a current ratio of 0.76. The company has a market cap of $4.69 billion, a PE ratio of 11.42 and a beta of 0.64. The business has a 50-day simple moving average of $46.92 and a two-hundred day simple moving average of $46.66. NewJersey Resources Corporation has a fifty-two week low of $43.80 and a fifty-two week high of $51.94.

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

NewJersey Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 22nd were issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.1%. This is a positive change from NewJersey Resources’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Monday, September 22nd. NewJersey Resources’s dividend payout ratio is presently 46.45%.

Analyst Ratings Changes

A number of brokerages recently weighed in on NJR. Raymond James Financial reaffirmed an “outperform” rating and set a $50.00 price objective (up previously from $49.00) on shares of NewJersey Resources in a research report on Friday, August 8th. Wall Street Zen downgraded NewJersey Resources from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of NewJersey Resources in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $51.43.

About NewJersey Resources

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.