Jump Financial LLC Has $2.42 Million Holdings in New Jersey Resources Co. (NYSE:NJR)

Jump Financial LLC lifted its stake in New Jersey Resources Co. (NYSE:NJR - Free Report) by 204.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,881 shares of the utilities provider's stock after buying an additional 34,837 shares during the period. Jump Financial LLC owned approximately 0.05% of New Jersey Resources worth $2,420,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in New Jersey Resources in the fourth quarter valued at about $73,124,000. Prudential Financial Inc. boosted its holdings in New Jersey Resources by 3,076.5% in the 4th quarter. Prudential Financial Inc. now owns 321,332 shares of the utilities provider's stock valued at $14,990,000 after purchasing an additional 311,216 shares during the period. Barclays PLC lifted its holdings in shares of New Jersey Resources by 140.0% during the 3rd quarter. Barclays PLC now owns 189,827 shares of the utilities provider's stock worth $8,959,000 after acquiring an additional 110,723 shares during the period. Bank of New York Mellon Corp increased its position 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 acquiring an additional 96,393 shares in the last quarter. Finally, Trexquant Investment LP increased its position in New Jersey Resources by 76.7% in the 4th quarter. Trexquant Investment LP now owns 221,346 shares of the utilities provider's stock valued at $10,326,000 after acquiring an additional 96,103 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

New Jersey Resources Trading Up 0.4 %

Shares of NYSE:NJR traded up $0.20 during trading on Thursday, hitting $49.51. The company had a trading volume of 57,924 shares, compared to its average volume of 526,021. New Jersey Resources Co. has a one year low of $41.58 and a one year high of $51.95. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.89 and a quick ratio of 0.61. The stock has a market cap of $4.97 billion, a price-to-earnings ratio of 14.91 and a beta of 0.58. The company has a fifty day simple moving average of $48.25 and a two-hundred day simple moving average of $47.59.

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 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 business posted $0.74 EPS. As a group, equities analysts forecast that New Jersey Resources Co. will post 3.15 earnings per share for the current year.

New Jersey Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be given a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.80 annualized dividend and a yield of 3.64%. New Jersey Resources's dividend payout ratio is presently 54.22%.

Analysts Set New Price Targets

A number of research firms have issued reports on NJR. StockNews.com upgraded New Jersey Resources from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. New Street Research set a $51.00 target price on New Jersey Resources in a research report on Tuesday, April 1st. Guggenheim lifted their target price on New Jersey Resources from $53.00 to $54.00 and gave the stock a "neutral" rating in a report on Wednesday, February 5th. 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, Jefferies Financial Group initiated coverage on shares of New Jersey Resources in a research report on Tuesday, April 1st. They set a "hold" rating and a $51.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $51.50.

Insider Buying and Selling

In related news, CFO Roberto Bel sold 1,173 shares of New Jersey Resources stock in a transaction on Monday, March 31st. The stock was sold at an average price of $50.00, for a total value of $58,650.00. Following the transaction, the chief financial officer now owns 22,649 shares in the company, valued at approximately $1,132,450. This trade represents a 4.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is owned by company 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.