New Jersey Resources Co. (NYSE:NJR) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC increased its holdings in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) by 24.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,803 shares of the utilities provider's stock after buying an additional 6,339 shares during the period. HighTower Advisors LLC's holdings in New Jersey Resources were worth $1,484,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Intech Investment Management LLC grew its position in shares of New Jersey Resources by 110.5% during the third quarter. Intech Investment Management LLC now owns 18,897 shares of the utilities provider's stock worth $892,000 after buying an additional 9,918 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in New Jersey Resources by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,227,815 shares of the utilities provider's stock worth $57,953,000 after acquiring an additional 33,772 shares in the last quarter. Citigroup Inc. increased its position in shares of New Jersey Resources by 153.1% in the 3rd quarter. Citigroup Inc. now owns 93,876 shares of the utilities provider's stock valued at $4,431,000 after purchasing an additional 56,789 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its position in shares of New Jersey Resources by 247.5% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 31,646 shares of the utilities provider's stock valued at $1,494,000 after purchasing an additional 22,538 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of New Jersey Resources in the 3rd quarter valued at $1,001,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

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New Jersey Resources Stock Performance

NYSE NJR traded up $0.99 during trading hours on Friday, hitting $49.38. The company had a trading volume of 743,300 shares, compared to its average volume of 506,014. The business has a 50 day moving average of $47.55 and a 200-day moving average of $47.35. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.61 and a current ratio of 0.89. New Jersey Resources Co. has a 1-year low of $40.62 and a 1-year high of $51.95. The company has a market cap of $4.95 billion, a PE ratio of 14.87 and a beta of 0.57.

New Jersey Resources (NYSE:NJR - Get Free Report) last announced its earnings results on Monday, February 3rd. The utilities provider reported $1.29 earnings per share (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 period in the previous year, the firm posted $0.74 earnings per share. As a group, equities research analysts expect that New Jersey Resources Co. will post 3.15 EPS for the current year.

New Jersey Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th will be given a $0.45 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $1.80 annualized dividend and a yield of 3.65%. New Jersey Resources's dividend payout ratio (DPR) is 54.22%.

Insider Buying and Selling

In other New Jersey Resources news, CFO Roberto Bel sold 2,346 shares of New Jersey Resources stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $48.58, for a total value of $113,968.68. Following the transaction, the chief financial officer now directly owns 23,822 shares in the company, valued at approximately $1,157,272.76. This trade represents a 8.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on NJR. StockNews.com raised New Jersey Resources from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. cut 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 upped 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 investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, New Jersey Resources has an average rating of "Moderate Buy" and a consensus price target of $51.75.

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.