New Jersey Resources Co. (NYSE:NJR) Shares Sold by Kesler Norman & Wride LLC

Kesler Norman & Wride LLC cut its position in New Jersey Resources Co. (NYSE:NJR) by 1.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,543 shares of the utilities provider’s stock after selling 584 shares during the quarter. Kesler Norman & Wride LLC’s holdings in New Jersey Resources were worth $1,440,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC acquired a new stake in shares of New Jersey Resources in the fourth quarter valued at $26,000. Parkside Financial Bank & Trust acquired a new stake in shares of New Jersey Resources in the fourth quarter valued at $29,000. Headlands Technologies LLC acquired a new stake in shares of New Jersey Resources in the fourth quarter valued at $31,000. Heritage Wealth Advisors acquired a new stake in shares of New Jersey Resources in the fourth quarter valued at $31,000. Finally, GAMMA Investing LLC acquired a new stake in shares of New Jersey Resources in the fourth quarter valued at $40,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at New Jersey Resources

In other news, CEO Stephen D. Westhoven sold 20,000 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $42.82, for a total transaction of $856,400.00. Following the completion of the transaction, the chief executive officer now directly owns 198,705 shares of the company’s stock, valued at approximately $8,508,548.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.75% of the company’s stock.

New Jersey Resources Stock Down 0.7 %

NJR traded down $0.32 on Thursday, hitting $42.36. 177,114 shares of the company were exchanged, compared to its average volume of 601,797. New Jersey Resources Co. has a twelve month low of $38.92 and a twelve month high of $47.60. The company has a market cap of $4.19 billion, a price-to-earnings ratio of 16.74 and a beta of 0.60. 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 firm has a 50-day moving average price of $43.25 and a two-hundred day moving average price of $42.80.

New Jersey Resources (NYSE:NJR) last released its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.08. The business had revenue of $657.91 million during the quarter, compared to analysts’ expectations of $669.64 million. New Jersey Resources had a return on equity of 12.16% and a net margin of 14.46%. On average, equities analysts predict that New Jersey Resources Co. will post 2.94 earnings per share for the current year.

New Jersey Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Wednesday, June 12th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $1.68 annualized dividend and a dividend yield of 3.97%. New Jersey Resources’s dividend payout ratio is currently 66.40%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Argus raised New Jersey Resources to a “strong-buy” rating in a research note on Monday, June 10th. StockNews.com raised New Jersey Resources from a “sell” rating to a “hold” rating in a research note on Thursday, May 16th. Four research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $45.00.

New Jersey Resources 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.