Phocas Financial Corp. cut its holdings in New Jersey Resources Corp (NYSE:NJR) by 0.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 129,695 shares of the utilities provider’s stock after selling 1,241 shares during the quarter. Phocas Financial Corp. owned about 0.15% of New Jersey Resources worth $5,804,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of NJR. Sei Investments Co. boosted its holdings in shares of New Jersey Resources by 115.2% in the first quarter. Sei Investments Co. now owns 3,282 shares of the utilities provider’s stock valued at $132,000 after acquiring an additional 1,757 shares in the last quarter. Bruderman Asset Management LLC purchased a new stake in New Jersey Resources during the first quarter worth about $173,000. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in New Jersey Resources during the second quarter worth about $206,000. Tower Bridge Advisors purchased a new stake in New Jersey Resources during the second quarter worth about $206,000. Finally, Private Advisor Group LLC purchased a new stake in New Jersey Resources during the second quarter worth about $245,000. Institutional investors own 66.42% of the company’s stock.

Shares of NYSE:NJR traded down $0.96 during trading on Friday, reaching $44.54. The stock had a trading volume of 418,178 shares, compared to its average volume of 501,990. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.45 and a quick ratio of 1.16. The firm has a market cap of $4.07 billion, a PE ratio of 25.75, a P/E/G ratio of 2.49 and a beta of 0.19. New Jersey Resources Corp has a fifty-two week low of $35.55 and a fifty-two week high of $47.93.

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

A number of analysts recently commented on the stock. ValuEngine raised shares of New Jersey Resources from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research raised shares of New Jersey Resources from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Thursday, August 9th. Wells Fargo & Co upped their price target on shares of New Jersey Resources from $45.00 to $47.00 and gave the company a “market perform” rating in a report on Monday, September 17th. Finally, Guggenheim downgraded 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 analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $47.50.

New Jersey Resources Profile

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.

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

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