Entropy Technologies LP Buys Shares of 36,040 New Jersey Resources Co. (NYSE:NJR)

Entropy Technologies LP bought a new stake in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 36,040 shares of the utilities provider's stock, valued at approximately $1,681,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Good Life Advisors LLC lifted its position in New Jersey Resources by 1.0% during the third quarter. Good Life Advisors LLC now owns 34,316 shares of the utilities provider's stock valued at $1,620,000 after purchasing an additional 333 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in New Jersey Resources by 3.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 9,185 shares of the utilities provider's stock valued at $434,000 after purchasing an additional 345 shares in the last quarter. UMB Bank n.a. lifted its position in New Jersey Resources by 69.8% during the fourth 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 in the last quarter. Greenwood Capital Associates LLC lifted its position in New Jersey Resources by 1.5% during the fourth quarter. Greenwood Capital Associates LLC now owns 25,522 shares of the utilities provider's stock valued at $1,191,000 after purchasing an additional 383 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in New Jersey Resources by 23.6% during the fourth quarter. GAMMA Investing LLC now owns 2,288 shares of the utilities provider's stock valued at $107,000 after purchasing an additional 437 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NJR has been the topic of a number of recent analyst reports. Guggenheim raised their price target on New Jersey Resources from $53.00 to $54.00 and gave the company a "neutral" rating in a report on Wednesday, February 5th. Wells Fargo & Company raised their price target on New Jersey Resources from $51.00 to $54.00 and gave the company an "equal weight" rating in a report on Wednesday, November 27th. StockNews.com raised New Jersey Resources from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. Finally, 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 report on Tuesday, January 28th. Four 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $51.75.

Insider Transactions at New Jersey Resources

In related news, COO Patrick J. Migliaccio sold 4,983 shares of New Jersey Resources stock in a transaction dated Monday, December 23rd. The stock was 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 in the company, valued at approximately $1,707,704. This trade represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.72% of the company's stock.

New Jersey Resources Price Performance

Shares of NJR stock traded up $0.63 during trading hours on Thursday, hitting $46.46. The stock had a trading volume of 413,955 shares, compared to its average volume of 545,423. New Jersey Resources Co. has a one year low of $40.51 and a one year high of $51.94. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.89 and a quick ratio of 0.36. The stock's 50-day moving average price is $46.94 and its two-hundred day moving average price is $46.88. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 13.99 and a beta of 0.63.

New Jersey Resources (NYSE:NJR - Get Free Report) last issued its 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 in the previous year, the business earned $0.74 EPS. Equities analysts forecast that New Jersey Resources Co. will post 3.1 EPS for the current year.

New Jersey Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 11th will be issued a $0.45 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $1.80 annualized dividend and a dividend yield of 3.87%. New Jersey Resources's dividend payout ratio (DPR) is 54.22%.

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.