Edgestream Partners L.P. Buys Shares of 25,109 New Jersey Resources Co. (NYSE:NJR)

Edgestream Partners L.P. bought a new stake in New Jersey Resources Co. (NYSE:NJR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 25,109 shares of the utilities provider's stock, valued at approximately $1,171,000.

Other large investors have also modified their holdings of the company. Roxbury Financial LLC acquired a new position in New Jersey Resources during the 4th quarter worth approximately $25,000. FSA Wealth Management LLC purchased a new stake in shares of New Jersey Resources in the third quarter valued at approximately $27,000. Versant Capital Management Inc grew its holdings in 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 worth $31,000 after acquiring an additional 658 shares during the period. UMB Bank n.a. lifted its holdings in New Jersey Resources by 69.8% in the fourth quarter. UMB Bank n.a. now owns 839 shares of the utilities provider's stock valued at $39,000 after acquiring an additional 345 shares during the period. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in New Jersey Resources in the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

New Jersey Resources Stock Up 2.2 %

NJR stock opened at $48.60 on Wednesday. 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 Co. has a 12 month low of $40.62 and a 12 month high of $51.94. The firm has a market capitalization of $4.87 billion, a PE ratio of 14.64 and a beta of 0.57. The company's 50 day simple moving average is $46.97 and its 200-day simple moving average is $47.16.

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New Jersey Resources (NYSE:NJR - Get Free Report) last announced its earnings results on Monday, February 3rd. The utilities provider reported $1.29 EPS for the quarter, beating analysts' consensus estimates 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 quarter in the previous year, the firm posted $0.74 EPS. Equities analysts expect that New Jersey Resources Co. will post 3.15 earnings per share for the current fiscal year.

New Jersey Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend is Tuesday, March 11th. New Jersey Resources's payout ratio is 54.22%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NJR. StockNews.com upgraded shares of New Jersey Resources from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. Wells Fargo & Company increased their target price on shares of New Jersey Resources from $51.00 to $54.00 and gave the company an "equal weight" rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. decreased 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 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. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $51.75.

Insider Buying and Selling at New Jersey Resources

In other news, COO Patrick J. Migliaccio sold 4,983 shares of the business's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $46.00, for a total value of $229,218.00. Following the completion of the transaction, the chief operating officer now owns 37,124 shares of the company's stock, valued at $1,707,704. The trade was a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.72% of the stock is owned by insiders.

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.

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