Fox Run Management L.L.C. bought a new position in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 14,586 shares of the utilities provider's stock, valued at approximately $680,000.
Several other institutional investors and hedge funds also recently made changes to their positions in NJR. Roxbury Financial LLC acquired a new position in New Jersey Resources in the 4th quarter worth $25,000. FSA Wealth Management LLC acquired a new position in shares of New Jersey Resources during the 3rd quarter worth about $27,000. Versant Capital Management Inc raised its stake in New Jersey Resources by 9,400.0% in the fourth quarter. Versant Capital Management Inc now owns 665 shares of the utilities provider's stock valued at $31,000 after buying an additional 658 shares during the period. UMB Bank n.a. lifted its holdings in New Jersey Resources by 69.8% during the 4th quarter. UMB Bank n.a. now owns 839 shares of the utilities provider's stock valued at $39,000 after purchasing an additional 345 shares during the last quarter. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in shares of New Jersey Resources during the 4th quarter worth about $42,000. Institutional investors and hedge funds own 70.98% of the company's stock.
New Jersey Resources Trading Up 2.0 %
Shares of NYSE:NJR traded up $0.99 during mid-day trading on Friday, hitting $49.38. The company had a trading volume of 743,300 shares, compared to its average volume of 506,409. The firm has a fifty day moving average price of $47.59 and a 200 day moving average price of $47.38. New Jersey Resources Co. has a one year low of $40.62 and a one year high of $51.95. The company has a market capitalization of $4.95 billion, a PE ratio of 14.87 and a beta of 0.57. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.89 and a quick ratio of 0.61.
New Jersey Resources (NYSE:NJR - Get Free Report) last announced its quarterly earnings results on Monday, February 3rd. The utilities provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.15. New Jersey Resources had a return on equity of 15.72% and a net margin of 18.25%. During the same period last year, the company earned $0.74 EPS. As a group, research analysts forecast that New Jersey Resources Co. will post 3.15 EPS for the current year.
New Jersey Resources Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th will be given a $0.45 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $1.80 annualized dividend and a yield of 3.65%. New Jersey Resources's payout ratio is 54.22%.
Insider Buying and Selling at New Jersey Resources
In other New Jersey Resources news, CFO Roberto Bel sold 2,346 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $48.58, for a total transaction of $113,968.68. Following the transaction, the chief financial officer now directly owns 23,822 shares in the company, valued at approximately $1,157,272.76. This trade represents a 8.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.72% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on NJR. StockNews.com upgraded shares of New Jersey Resources from a "sell" rating to a "hold" rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. cut their price target on New Jersey Resources from $54.00 to $52.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Finally, Guggenheim lifted their target price on shares of New Jersey Resources from $53.00 to $54.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, New Jersey Resources presently has an average rating of "Moderate Buy" and an average target price of $51.75.
Read Our Latest Stock Analysis on NJR
New Jersey Resources Company Profile
(
Free Report)
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.
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