9,116 Shares in New Jersey Resources Co. (NYSE:NJR) Acquired by EntryPoint Capital LLC

EntryPoint Capital LLC acquired a new stake in New Jersey Resources Co. (NYSE:NJR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,116 shares of the utilities provider's stock, valued at approximately $425,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of New Jersey Resources by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,366,381 shares of the utilities provider's stock valued at $111,714,000 after acquiring an additional 34,782 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of New Jersey Resources by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,267,456 shares of the utilities provider's stock valued at $59,127,000 after buying an additional 39,641 shares in the last quarter. Bank of New York Mellon Corp increased its stake in New Jersey Resources by 8.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,211,702 shares of the utilities provider's stock valued at $56,526,000 after buying an additional 96,393 shares during the period. JPMorgan Chase & Co. lifted its position in 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 buying an additional 86,742 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of New Jersey Resources by 1.8% during the 4th quarter. Victory Capital Management Inc. now owns 364,026 shares of the utilities provider's stock valued at $16,982,000 after buying an additional 6,280 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.

New Jersey Resources Price Performance

NJR traded up $0.99 during midday trading on Friday, reaching $49.38. 743,300 shares of the company's stock were exchanged, compared to its average volume of 506,409. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 1.29. The business has a 50-day simple moving average of $47.59 and a two-hundred day simple moving average of $47.38. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of 14.87 and a beta of 0.57. New Jersey Resources Co. has a one year low of $40.62 and a one year high of $51.95.

New Jersey Resources (NYSE:NJR - Get Free Report) last posted its earnings results on Monday, February 3rd. The utilities provider reported $1.29 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 quarter in the prior year, the firm posted $0.74 earnings per share. As a group, research analysts predict that New Jersey Resources Co. will post 3.15 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. Investors of record on Tuesday, March 11th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date is Tuesday, March 11th. New Jersey Resources's dividend payout ratio (DPR) is currently 54.22%.

Analyst Upgrades and Downgrades

NJR has been the topic of a number of research reports. StockNews.com raised shares of New Jersey Resources from a "sell" rating to a "hold" rating in a research note on Tuesday, February 4th. JPMorgan Chase & Co. dropped their target price 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. Finally, Guggenheim lifted 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. Four research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, New Jersey Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.75.

Insider Buying and Selling

In related news, CFO Roberto Bel sold 2,346 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $48.58, for a total transaction of $113,968.68. Following the sale, the chief financial officer now directly owns 23,822 shares in the company, valued at $1,157,272.76. This represents a 8.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is currently owned by corporate insiders.

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.