EULAV Asset Management Has $1.17 Million Position in New Jersey Resources Corp (NJR)

EULAV Asset Management decreased its position in shares of New Jersey Resources Corp (NYSE:NJR) by 53.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,300 shares of the utilities provider’s stock after selling 29,100 shares during the period. EULAV Asset Management’s holdings in New Jersey Resources were worth $1,166,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the stock. BlackRock Inc. lifted its position in New Jersey Resources by 2.8% during the second quarter. BlackRock Inc. now owns 11,764,741 shares of the utilities provider’s stock valued at $526,471,000 after acquiring an additional 323,801 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in New Jersey Resources by 12.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,787,711 shares of the utilities provider’s stock valued at $80,001,000 after acquiring an additional 200,006 shares during the last quarter. Northern Trust Corp lifted its position in New Jersey Resources by 1.9% during the second quarter. Northern Trust Corp now owns 1,327,875 shares of the utilities provider’s stock valued at $59,421,000 after acquiring an additional 25,394 shares during the last quarter. FMR LLC lifted its position in New Jersey Resources by 17.4% during the second quarter. FMR LLC now owns 1,102,865 shares of the utilities provider’s stock valued at $49,353,000 after acquiring an additional 163,226 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in New Jersey Resources by 6.9% during the second quarter. Wells Fargo & Company MN now owns 1,069,817 shares of the utilities provider’s stock valued at $47,875,000 after acquiring an additional 69,099 shares during the last quarter. 66.66% of the stock is owned by institutional investors.

A number of research firms have issued reports on NJR. ValuEngine raised shares of New Jersey Resources from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. Zacks Investment Research raised shares of New Jersey Resources from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Thursday, August 9th. Wells Fargo & Co raised their price target on shares of New Jersey Resources from $45.00 to $47.00 and gave the stock a “market perform” rating in a report on Monday, September 17th. Finally, Guggenheim cut shares of New Jersey Resources from a “buy” rating to a “neutral” rating in a report on Monday, September 10th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. New Jersey Resources has a consensus rating of “Hold” and a consensus price target of $47.50.



NYSE:NJR opened at $45.01 on Monday. The firm has a market capitalization of $3.97 billion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 3.18 and a beta of 0.19. New Jersey Resources Corp has a 1-year low of $35.55 and a 1-year high of $47.93. The company has a current ratio of 1.45, a quick ratio of 1.16 and a debt-to-equity ratio of 0.84.

New Jersey Resources (NYSE:NJR) last released its quarterly earnings data on Tuesday, August 7th. The utilities provider reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.11). The business had revenue of $543.44 million during the quarter, compared to analyst estimates of $496.70 million. New Jersey Resources had a return on equity of 18.68% and a net margin of 7.60%. During the same quarter in the previous year, the company earned $0.20 EPS. Research analysts predict that New Jersey Resources Corp will post 2.65 EPS for the current fiscal year.

About New Jersey Resources

New Jersey Resources Corporation, an energy services holding company, provides regulated gas distribution, and retail and wholesale energy services. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Midstream segments. The Natural Gas Distribution segment offers regulated retail natural gas services to approximately 529,800 residential and commercial customers in central and northern New Jersey; provides storage management services; and participates in the off-system sales and capacity release markets.

See Also: How Important is Technical Analysis of Stocks

Want to see what other hedge funds are holding NJR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for New Jersey Resources Corp (NYSE:NJR).

Institutional Ownership by Quarter for New Jersey Resources (NYSE:NJR)

Receive News & Ratings for New Jersey Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Jersey Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply