Barclays PLC Raises Stock Holdings in New Jersey Resources Co. (NYSE:NJR)

Barclays PLC raised its stake in New Jersey Resources Co. (NYSE:NJR - Free Report) by 29.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245,796 shares of the utilities provider's stock after acquiring an additional 55,969 shares during the period. Barclays PLC owned approximately 0.25% of New Jersey Resources worth $11,466,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in NJR. Norges Bank bought a new stake in shares of New Jersey Resources during the fourth quarter worth about $73,124,000. Prudential Financial Inc. raised its holdings in shares of New Jersey Resources by 3,076.5% during the fourth quarter. Prudential Financial Inc. now owns 321,332 shares of the utilities provider's stock valued at $14,990,000 after purchasing an additional 311,216 shares during the period. Bank of New York Mellon Corp boosted its holdings in New Jersey Resources by 8.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,211,702 shares of the utilities provider's stock worth $56,526,000 after acquiring an additional 96,393 shares in the last quarter. Trexquant Investment LP grew its position in New Jersey Resources by 76.7% in the 4th quarter. Trexquant Investment LP now owns 221,346 shares of the utilities provider's stock valued at $10,326,000 after purchasing an additional 96,103 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of New Jersey Resources by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 609,199 shares of the utilities provider's stock worth $28,754,000 after acquiring an additional 86,742 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NJR shares. Guggenheim raised their price objective on New Jersey Resources from $53.00 to $54.00 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. New Street Research set a $51.00 target price on shares of New Jersey Resources in a report on Tuesday, April 1st. JPMorgan Chase & Co. lowered their price target on shares of New Jersey Resources from $54.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. StockNews.com raised New Jersey Resources from a "sell" rating to a "hold" rating in a research note on Tuesday, February 4th. Finally, Jefferies Financial Group started coverage on shares of New Jersey Resources in a research note on Tuesday, April 1st. They issued a "hold" rating and a $51.00 price target for the company. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, New Jersey Resources currently has an average rating of "Hold" and an average target price of $51.50.

Insider Buying and Selling at New Jersey Resources

In related news, CFO Roberto Bel sold 2,346 shares of New Jersey Resources stock in a transaction on Monday, March 24th. The stock was sold at an average price of $48.58, for a total value of $113,968.68. Following the completion of the sale, the chief financial officer now owns 23,822 shares of the company's stock, valued at $1,157,272.76. The trade was a 8.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.72% of the company's stock.

New Jersey Resources Stock Down 0.4 %

New Jersey Resources stock traded down $0.21 during trading hours on Friday, hitting $49.17. 443,405 shares of the stock traded hands, compared to its average volume of 527,943. The company has a market cap of $4.93 billion, a PE ratio of 14.81 and a beta of 0.58. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 1.29. The firm's 50-day moving average price is $48.38 and its two-hundred day moving average price is $47.64. New Jersey Resources Co. has a one year low of $41.58 and a one year high of $51.95.

New Jersey Resources (NYSE:NJR - Get Free Report) last issued its quarterly earnings results on Monday, February 3rd. The utilities provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.15. New Jersey Resources had a net margin of 18.25% and a return on equity of 15.72%. During the same quarter in the previous year, the company posted $0.74 earnings per share. On average, research analysts forecast that New Jersey Resources Co. will post 3.15 EPS for the current year.

New Jersey Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date is Tuesday, June 10th. New Jersey Resources's payout ratio is 54.22%.

About New Jersey Resources

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.