Y Intercept Hong Kong Ltd Cuts Stock Position in New Jersey Resources Co. (NYSE:NJR)

Y Intercept Hong Kong Ltd decreased its holdings in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) by 54.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 10,402 shares of the utilities provider's stock after selling 12,642 shares during the period. Y Intercept Hong Kong Ltd's holdings in New Jersey Resources were worth $491,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in shares of New Jersey Resources by 192.9% in the second quarter. Victory Capital Management Inc. now owns 387,950 shares of the utilities provider's stock worth $16,581,000 after buying an additional 255,503 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of New Jersey Resources in the 3rd quarter valued at $8,590,000. AQR Capital Management LLC increased its position in shares of New Jersey Resources by 39.9% in the 2nd quarter. AQR Capital Management LLC now owns 618,379 shares of the utilities provider's stock valued at $26,430,000 after acquiring an additional 176,396 shares during the period. Benjamin Edwards Inc. lifted its position in New Jersey Resources by 8,995.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 157,079 shares of the utilities provider's stock worth $7,414,000 after acquiring an additional 155,352 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in New Jersey Resources by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,956,772 shares of the utilities provider's stock valued at $126,372,000 after purchasing an additional 154,441 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

New Jersey Resources Stock Performance

Shares of NYSE NJR traded up $0.14 during midday trading on Monday, reaching $47.69. 616,098 shares of the stock were exchanged, compared to its average volume of 490,235. The company has a quick ratio of 0.36, a current ratio of 0.62 and a debt-to-equity ratio of 1.31. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 16.33 and a beta of 0.63. The firm has a 50-day simple moving average of $47.80 and a two-hundred day simple moving average of $45.98. New Jersey Resources Co. has a twelve month low of $39.44 and a twelve month high of $51.94.

New Jersey Resources (NYSE:NJR - Get Free Report) last released its quarterly earnings results on Monday, November 25th. The utilities provider reported $0.89 EPS for the quarter, meeting the consensus estimate of $0.89. The company had revenue of $395.78 million for the quarter, compared to analyst estimates of $406.97 million. New Jersey Resources had a net margin of 16.13% and a return on equity of 13.54%. The firm's revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the business earned $0.30 earnings per share. As a group, analysts anticipate that New Jersey Resources Co. will post 3.05 EPS for the current fiscal year.

New Jersey Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be issued a $0.45 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $1.80 dividend on an annualized basis and a yield of 3.77%. New Jersey Resources's payout ratio is 61.64%.

Analyst Ratings Changes

A number of research firms recently commented on NJR. Wells Fargo & Company lifted their target price on New Jersey Resources from $51.00 to $54.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 27th. Mizuho lifted their price objective on shares of New Jersey Resources from $45.00 to $47.00 and gave the company a "neutral" rating in a research note on Friday, September 20th. Guggenheim increased their price objective on shares of New Jersey Resources from $46.00 to $49.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. raised shares of New Jersey Resources from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $52.00 to $54.00 in a report on Thursday. Finally, StockNews.com raised shares of New Jersey Resources from a "sell" rating to a "hold" rating in a report on Wednesday, December 4th. Four investment 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $51.00.

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.