Dynamic Technology Lab Private Ltd Has $1.09 Million Stock Position in New Jersey Resources Co. (NYSE:NJR)

Dynamic Technology Lab Private Ltd reduced its position in New Jersey Resources Co. (NYSE:NJR - Free Report) by 26.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,403 shares of the utilities provider's stock after selling 8,243 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in New Jersey Resources were worth $1,092,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Roxbury Financial LLC acquired a new position in New Jersey Resources in the fourth quarter worth about $25,000. Versant Capital Management Inc raised its holdings in shares of New Jersey Resources by 9,400.0% in the 4th quarter. Versant Capital Management Inc now owns 665 shares of the utilities provider's stock worth $31,000 after buying an additional 658 shares in the last quarter. UMB Bank n.a. lifted its position in shares of New Jersey Resources by 69.8% during the 4th quarter. UMB Bank n.a. now owns 839 shares of the utilities provider's stock worth $39,000 after buying an additional 345 shares during the period. Halbert Hargrove Global Advisors LLC acquired a new position in New Jersey Resources during the fourth quarter worth $42,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of New Jersey Resources during the fourth quarter valued at $51,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Wall Street Analysts Forecast Growth

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

New Jersey Resources Trading Down 0.2 %

Shares of New Jersey Resources stock traded down $0.08 during trading on Friday, reaching $47.54. 103,758 shares of the company were exchanged, compared to its average volume of 522,796. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 1.29. New Jersey Resources Co. has a twelve month low of $40.62 and a twelve month high of $51.95. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 14.33 and a beta of 0.58. The business has a 50-day moving average price of $47.73 and a 200-day moving average price of $47.43.

New Jersey Resources (NYSE:NJR - Get Free Report) last released its quarterly earnings data on Monday, February 3rd. The utilities provider reported $1.29 earnings per share for the quarter, topping the consensus estimate 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 last year, the business posted $0.74 EPS. Sell-side analysts anticipate that New Jersey Resources Co. will post 3.15 EPS for the current fiscal year.

New Jersey Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend was Tuesday, March 11th. New Jersey Resources's dividend payout ratio is currently 54.22%.

Insiders Place Their Bets

In other news, CFO Roberto Bel sold 1,173 shares of New Jersey Resources stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $50.00, for a total transaction of $58,650.00. Following the transaction, the chief financial officer now owns 22,649 shares in the company, valued at $1,132,450. The trade was a 4.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.72% of the company's stock.

New Jersey Resources Company 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.