New Jersey Resources Co. (NYSE:NJR) Stock Position Decreased by First Trust Advisors LP

First Trust Advisors LP cut its stake in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) by 9.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,115,106 shares of the utilities provider's stock after selling 109,903 shares during the period. First Trust Advisors LP owned approximately 1.11% of New Jersey Resources worth $52,020,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. MML Investors Services LLC lifted its stake in New Jersey Resources by 14.5% during the third quarter. MML Investors Services LLC now owns 8,621 shares of the utilities provider's stock valued at $407,000 after buying an additional 1,093 shares in the last quarter. Barclays PLC boosted its stake in New Jersey Resources by 140.0% in the 3rd quarter. Barclays PLC now owns 189,827 shares of the utilities provider's stock worth $8,959,000 after purchasing an additional 110,723 shares during the period. Virtu Financial LLC acquired a new position in New Jersey Resources in the 3rd quarter worth approximately $271,000. JPMorgan Chase & Co. raised its stake in New Jersey Resources by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 609,199 shares of the utilities provider's stock valued at $28,754,000 after purchasing an additional 86,742 shares during the period. Finally, Versant Capital Management Inc raised its stake in New Jersey Resources by 9,400.0% during the 4th quarter. Versant Capital Management Inc now owns 665 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 658 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

New Jersey Resources Price Performance

Shares of NJR opened at $49.85 on Wednesday. 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 firm has a market cap of $5.00 billion, a PE ratio of 15.01 and a beta of 0.58. New Jersey Resources Co. has a twelve month low of $41.58 and a twelve month high of $51.95. The firm's 50 day moving average price is $48.18 and its 200 day moving average price is $47.57.

New Jersey Resources (NYSE:NJR - Get Free Report) last released its quarterly earnings data on Monday, February 3rd. The utilities provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period last year, the firm posted $0.74 earnings per share. As a group, research analysts expect that New Jersey Resources Co. will post 3.15 EPS for the current fiscal year.

New Jersey Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date is Tuesday, June 10th. New Jersey Resources's dividend payout ratio is 54.22%.

Wall Street Analysts Forecast Growth

NJR has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on New Jersey Resources in a report on Tuesday, April 1st. They set a "hold" rating and a $51.00 price target on the stock. New Street Research set a $51.00 price target on shares of New Jersey Resources in a research report on Tuesday, April 1st. Guggenheim raised their price target 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. StockNews.com upgraded shares of New Jersey Resources from a "sell" rating to a "hold" rating in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. decreased their target price on shares of New Jersey Resources from $54.00 to $52.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Five 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 stock. According to data from MarketBeat, New Jersey Resources currently has an average rating of "Hold" and a consensus target price of $51.50.

Insider Activity at New Jersey Resources

In related news, CFO Roberto Bel sold 1,173 shares of New Jersey Resources stock in a transaction on Monday, March 31st. The shares were 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 $1,132,450. This trade represents a 4.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.72% of the stock is owned by company insiders.

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.

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