1,567,511 Shares in New Jersey Resources Co. (NYSE:NJR) Bought by Norges Bank

Norges Bank bought a new position in New Jersey Resources Co. (NYSE:NJR - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,567,511 shares of the utilities provider's stock, valued at approximately $73,124,000. Norges Bank owned approximately 1.56% of New Jersey Resources as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of NJR. Citigroup Inc. grew its stake in 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 buying an additional 56,789 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of New Jersey Resources by 30.3% in the third quarter. BNP Paribas Financial Markets now owns 48,624 shares of the utilities provider's stock worth $2,295,000 after acquiring an additional 11,319 shares during the period. Captrust Financial Advisors grew its position in shares of New Jersey Resources by 4.4% in the third quarter. Captrust Financial Advisors now owns 15,639 shares of the utilities provider's stock valued at $738,000 after purchasing an additional 652 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of New Jersey Resources in the third quarter valued at $141,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its holdings in New Jersey Resources by 482.0% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,824 shares of the utilities provider's stock worth $180,000 after purchasing an additional 3,167 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

New Jersey Resources Price Performance

Shares of New Jersey Resources stock traded down $0.90 on Monday, hitting $46.96. 994,172 shares of the company traded hands, compared to its average volume of 518,595. New Jersey Resources Co. has a 12-month low of $40.62 and a 12-month high of $51.95. The firm's 50-day simple moving average is $47.77 and its 200 day simple moving average is $47.44. The company has a market cap of $4.71 billion, a P/E ratio of 14.14 and a beta of 0.58. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 1.29.

New Jersey Resources (NYSE:NJR - Get Free Report) last released its quarterly earnings results on Monday, February 3rd. The utilities provider reported $1.29 earnings per share 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 quarter in the prior year, the business earned $0.74 EPS. Analysts expect that New Jersey Resources Co. will post 3.15 earnings per share for the current fiscal year.

New Jersey Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.83%. The ex-dividend date was Tuesday, March 11th. New Jersey Resources's dividend payout ratio is currently 54.22%.

Insider Transactions at New Jersey Resources

In related news, CFO Roberto Bel sold 1,173 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $50.00, for a total transaction of $58,650.00. Following the transaction, the chief financial officer now directly owns 22,649 shares in the company, valued at $1,132,450. This trade represents a 4.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.72% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on NJR. 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 research report on Tuesday, January 28th. New Street Research set a $51.00 target price on shares of New Jersey Resources in a report on Tuesday, April 1st. StockNews.com raised shares of New Jersey Resources from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. Jefferies Financial Group assumed coverage on shares of New Jersey Resources in a report on Tuesday, April 1st. They issued a "hold" rating and a $51.00 price target on the stock. Finally, Guggenheim lifted their price objective on New Jersey Resources from $53.00 to $54.00 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price 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.