December 1, 2016 - By Winifred Garcia · 0 Comments
New Jersey Resources Corp (NYSE:NJR) institutional sentiment increased to 1.26 in 2016 Q2. Its up 0.34, from 0.92 in 2016Q1. The ratio has improved, as 92 hedge funds opened new or increased stock positions, while 100 sold and reduced equity positions in New Jersey Resources Corp. The hedge funds in our partner’s database now own: 51.05 million shares, up from 50.78 million shares in 2016Q1. Also, the number of hedge funds holding New Jersey Resources Corp in their top 10 stock positions decreased from 2 to 0 for a decrease of 2. Sold All: 27 Reduced: 73 Increased: 73 New Position: 19.
New Jersey Resources Corporation is an energy services holding firm that provides retail and wholesale energy services to clients primarily in the Gulf Coast, Mid-Continent, Appalachian, Northeastern, and Western market areas of the United States, as well as Canada. The company has a market cap of $2.89 billion. The Firm operates within four reportable business divisions: Natural Gas Distribution, Clean Energy Ventures, Energy Services and Midstream (formerly Energy Holdings). It has a 22.62 P/E ratio. The Natural Gas Distribution segment consists of regulated energy and off-system, capacity and storage management operations.
It is down 2.68% since April 28, 2016 and is downtrending. It has underperformed by 8.61% the S&P500.
Analysts await New Jersey Resources Corp (NYSE:NJR) to report earnings on February, 1. They expect $0.59 earnings per share, up 5.36% or $0.03 from last year’s $0.56 per share. NJR’s profit will be $49.49 million for 14.60 P/E if the $0.59 EPS becomes a reality. After $-0.02 actual earnings per share reported by New Jersey Resources Corp for the previous quarter, Wall Street now forecasts -3,050.00% EPS growth.
According to Zacks Investment Research, “NJ RESOURCES is an exempt energy svcs holding company providing retail & wholesale natural gas & related energy services to customers from the Gulf Coast to New England. Subsidiaries include: (1) N J Natural Gas Co, a natural gas distribution company that provides regulated energy & appliance services to residential, commercial & industrial customers in central & northern N J. (2) NJR Energy Holdings Corp formerly NJR Energy Svcs Corp & (3) NJR Development Corp, a sub-holding company of NJR, which includes the Company’s remaining unregulated operating subsidiaries.”
Clear Harbor Asset Management Llc holds 1.28% of its portfolio in New Jersey Resources Corp for 153,079 shares. Ardevora Asset Management Llp owns 754,000 shares or 1.21% of their US portfolio. Moreover, Energy Income Partners Llc has 0.9% invested in the company for 1.05 million shares. The New Jersey-based Mercer Capital Advisers Inc. has invested 0.87% in the stock. Robecosam Ag, a Switzerland-based fund reported 212,000 shares.#img1#
Ratings analysis reveals 33% of New Jersey Resources Corp’s analysts are positive. Out of 6 Wall Street analysts rating New Jersey Resources Corp, 2 give it “Buy”, 0 “Sell” rating, while 4 recommend “Hold”. The lowest target is $31 while the high is $38. The stock’s average target of $34.38 is -0.20% below today’s ($34.45) share price. NJR was included in 9 notes of analysts from August 18, 2015. The company was initiated on Wednesday, March 30 by BB&T Capital. The firm has “Buy” rating given on Monday, September 7 by Zacks. The stock of New Jersey Resources Corp (NYSE:NJR) earned “Hold” rating by Zacks on Friday, September 4. The rating was downgraded by Janney Capital to “Neutral” on Thursday, March 31. On Wednesday, January 6 the stock rating was initiated by Wells Fargo with “Market Perform”. The firm has “Buy” rating by Argus Research given on Monday, January 4. The firm earned “Buy” rating on Tuesday, August 18 by Zacks. The stock has “Neutral” rating given by Ladenburg Thalmann on Wednesday, January 13.
New Jersey Resources Corporation is an energy services holding company. The Company’s principal business is the distribution of natural gas through a regulated utility, and provides other retail and wholesale energy services to clients and invests in midstream assets. The Firm operates within four business divisions: Natural Gas Distribution, Energy Services, Clean Energy Ventures and Midstream. The Company’s Natural Gas Distribution segment consists of regulated natural gas and off-system sales and capacity and storage management operations. The Company’s Energy Services segment consists of unregulated wholesale energy operations. The Company’s Clean Energy Ventures segment consists of capital investments in distributed power projects. The Company’s Midstream segment consists of investments in the midstream natural gas market, such as natural gas transportation and storage facilities. In addition to the four business divisions, the Company has non-utility operations, which comprise Home Services and Other, consisting of heating, cooling and water appliance sales, installations and services, commercial real estate development, other investments and general corporate activities.
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By Winifred Garcia