Cox Capital Mgt LLC Sells 1,051 Shares of New Jersey Resources Co. (NYSE:NJR)

Cox Capital Mgt LLC lowered its position in shares of New Jersey Resources Co. (NYSE:NJR) by 1.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,828 shares of the utilities provider’s stock after selling 1,051 shares during the quarter. New Jersey Resources comprises 2.0% of Cox Capital Mgt LLC’s investment portfolio, making the stock its 23rd biggest holding. Cox Capital Mgt LLC owned about 0.07% of New Jersey Resources worth $3,343,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Atlas Private Wealth Advisors bought a new stake in shares of New Jersey Resources during the 3rd quarter valued at about $203,000. CWM LLC boosted its position in shares of New Jersey Resources by 26.7% during the 3rd quarter. CWM LLC now owns 2,860 shares of the utilities provider’s stock worth $135,000 after purchasing an additional 602 shares in the last quarter. GAMMA Investing LLC increased its position in New Jersey Resources by 52.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,851 shares of the utilities provider’s stock valued at $87,000 after buying an additional 637 shares in the last quarter. SG Americas Securities LLC raised its stake in New Jersey Resources by 698.7% during the 3rd quarter. SG Americas Securities LLC now owns 113,402 shares of the utilities provider’s stock worth $5,353,000 after buying an additional 99,204 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in New Jersey Resources in the second quarter worth approximately $620,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Stephen D. Westhoven sold 26,600 shares of New Jersey Resources stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $45.06, for a total value of $1,198,596.00. Following the completion of the sale, the chief executive officer now owns 168,705 shares of the company’s stock, valued at approximately $7,601,847.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.75% of the company’s stock.

New Jersey Resources Stock Up 1.0 %

NYSE:NJR traded up $0.46 during trading hours on Friday, hitting $45.68. 234,636 shares of the company traded hands, compared to its average volume of 497,307. The company has a quick ratio of 0.41, a current ratio of 0.60 and a debt-to-equity ratio of 1.30. The company has a market cap of $4.51 billion, a PE ratio of 18.05 and a beta of 0.59. The firm’s 50-day simple moving average is $46.02 and its 200-day simple moving average is $44.41. New Jersey Resources Co. has a one year low of $39.44 and a one year high of $48.68.

New Jersey Resources (NYSE:NJR) last released its quarterly earnings results on Tuesday, August 6th. The utilities provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The firm had revenue of $275.64 million for the quarter, compared to analysts’ expectations of $283.56 million. New Jersey Resources had a return on equity of 11.06% and a net margin of 13.61%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.10 earnings per share. Equities analysts predict that New Jersey Resources Co. will post 2.95 earnings per share for the current year.

New Jersey Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 23rd were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.94%. This is a boost from New Jersey Resources’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, September 23rd. New Jersey Resources’s payout ratio is presently 71.15%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NJR shares. JPMorgan Chase & Co. upped their target price on New Jersey Resources from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Mizuho lifted their price objective on shares of New Jersey Resources from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Finally, StockNews.com upgraded shares of New Jersey Resources from a “sell” rating to a “hold” rating in a report on Sunday, September 22nd.

About New Jersey 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.