Geode Capital Management LLC Has $109.76 Million Stock Holdings in New Jersey Resources Co. (NYSE:NJR)

Geode Capital Management LLC decreased its holdings in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,352,246 shares of the utilities provider's stock after selling 14,135 shares during the period. Geode Capital Management LLC owned about 2.35% of New Jersey Resources worth $109,755,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NJR. Norges Bank acquired a new position in New Jersey Resources during the fourth quarter worth $73,124,000. Charles Schwab Investment Management Inc. raised its position in New Jersey Resources by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,267,456 shares of the utilities provider's stock worth $59,127,000 after purchasing an additional 39,641 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in New Jersey Resources by 8.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,211,702 shares of the utilities provider's stock worth $56,526,000 after buying an additional 96,393 shares in the last quarter. JPMorgan Chase & Co. boosted its position in New Jersey Resources by 12.2% in the 4th quarter. JPMorgan Chase & Co. now owns 683,557 shares of the utilities provider's stock valued at $31,888,000 after buying an additional 74,358 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of New Jersey Resources by 1.8% in 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 own 70.98% of the company's stock.

New Jersey Resources Stock Performance

NYSE:NJR traded up $0.48 during mid-day trading on Tuesday, hitting $49.18. The stock had a trading volume of 41,654 shares, compared to its average volume of 524,161. New Jersey Resources Co. has a twelve month low of $40.62 and a twelve month high of $51.95. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.61 and a current ratio of 0.89. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 14.82 and a beta of 0.58. The company's 50 day simple moving average is $47.79 and its 200 day simple moving average is $47.46.

New Jersey Resources (NYSE:NJR - Get Free Report) last released its quarterly earnings data on Monday, February 3rd. The utilities provider reported $1.29 EPS 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 quarter in the previous year, the business earned $0.74 earnings per share. On average, equities research analysts forecast that New Jersey Resources Co. will post 3.15 earnings per share for the current year.

New Jersey Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 11th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.66%. 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 the company's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $50.00, for a total transaction of $58,650.00. Following the completion of the sale, the chief financial officer now owns 22,649 shares of the company's stock, valued at approximately $1,132,450. This represents a 4.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company's stock.

Analyst Ratings Changes

NJR has been the topic of several recent research reports. 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. Guggenheim increased their target price on shares of New Jersey Resources from $53.00 to $54.00 and gave the stock a "neutral" rating in a report on Wednesday, February 5th. New Street Research set a $51.00 price objective on New Jersey Resources in a report on Tuesday, April 1st. Jefferies Financial Group initiated 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 on the stock. Finally, StockNews.com raised shares of New Jersey Resources from a "sell" rating to a "hold" rating in a research report on Tuesday, February 4th. Five investment 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. According to data from MarketBeat.com, New Jersey Resources presently has a consensus rating of "Hold" and an average price target of $51.50.

About New Jersey Resources

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.