Boston Partners Decreases Stock Holdings in New Jersey Resources Co. (NYSE:NJR)

Boston Partners trimmed its holdings in New Jersey Resources Co. (NYSE:NJR - Free Report) by 94.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,304 shares of the utilities provider's stock after selling 263,547 shares during the period. Boston Partners' holdings in New Jersey Resources were worth $761,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in NJR. Roxbury Financial LLC bought a new position in shares of New Jersey Resources in the fourth quarter worth approximately $25,000. FSA Wealth Management LLC purchased a new position in shares of New Jersey Resources in the third quarter worth $27,000. Versant Capital Management Inc raised its stake in shares of New Jersey Resources by 9,400.0% during the fourth quarter. Versant Capital Management Inc now owns 665 shares of the utilities provider's stock valued at $31,000 after acquiring an additional 658 shares during the last quarter. UMB Bank n.a. raised its position 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 position in shares of New Jersey Resources during the fourth quarter valued at approximately $42,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at New Jersey Resources

In related news, CFO Roberto Bel sold 2,346 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $48.58, for a total transaction of $113,968.68. Following the completion of the transaction, the chief financial officer now owns 23,822 shares in the company, valued at approximately $1,157,272.76. This represents a 8.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is owned by corporate insiders.

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New Jersey Resources Stock Performance

Shares of NYSE:NJR traded up $0.31 during mid-day trading on Wednesday, reaching $48.20. 484,058 shares of the company traded hands, compared to its average volume of 463,266. The company's 50 day moving average price is $47.50 and its 200-day moving average price is $47.34. The firm has a market cap of $4.83 billion, a PE ratio of 14.52 and a beta of 0.57. New Jersey Resources Co. has a 52 week low of $40.62 and a 52 week high of $51.95. 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 posted its quarterly earnings results on Monday, February 3rd. The utilities provider reported $1.29 earnings per share for the quarter, topping 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 period last year, the company earned $0.74 earnings per share. On average, equities analysts expect that New Jersey Resources Co. will post 3.15 EPS for the current fiscal year.

New Jersey Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Tuesday, March 11th. New Jersey Resources's dividend payout ratio is currently 54.22%.

Analyst Upgrades and Downgrades

Several analysts have commented on NJR shares. Wells Fargo & Company raised their price objective on shares of New Jersey Resources from $51.00 to $54.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 27th. StockNews.com upgraded shares of New Jersey Resources from a "sell" rating to a "hold" rating in a research note on Tuesday, February 4th. JPMorgan Chase & Co. cut their target price 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 price target on shares of New Jersey Resources from $53.00 to $54.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, New Jersey Resources presently has an average rating of "Moderate Buy" and an average price target of $51.75.

New Jersey Resources Profile

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.