New Jersey Resources Co. (NYSE:NJR) Shares Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC increased its position in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) by 4,620.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,638 shares of the utilities provider's stock after buying an additional 81,866 shares during the period. International Assets Investment Management LLC owned about 0.08% of New Jersey Resources worth $3,948,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its position in New Jersey Resources by 192.9% during the second quarter. Victory Capital Management Inc. now owns 387,950 shares of the utilities provider's stock valued at $16,581,000 after purchasing an additional 255,503 shares in the last quarter. Energy Income Partners LLC boosted its holdings in shares of New Jersey Resources by 54.9% in the 1st quarter. Energy Income Partners LLC now owns 537,636 shares of the utilities provider's stock valued at $23,070,000 after buying an additional 190,500 shares in the last quarter. Boston Partners grew its position in shares of New Jersey Resources by 65.5% in the 1st quarter. Boston Partners now owns 480,001 shares of the utilities provider's stock worth $20,623,000 after buying an additional 190,028 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of New Jersey Resources by 39.9% during the 2nd quarter. AQR Capital Management LLC now owns 618,379 shares of the utilities provider's stock worth $26,430,000 after acquiring an additional 176,396 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in New Jersey Resources by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,956,772 shares of the utilities provider's stock valued at $126,372,000 after acquiring an additional 154,441 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

New Jersey Resources Stock Performance

NJR stock traded down $0.66 during midday trading on Friday, reaching $45.23. The stock had a trading volume of 412,799 shares, compared to its average volume of 337,027. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.41 and a current ratio of 0.60. The firm has a fifty day simple moving average of $46.48 and a two-hundred day simple moving average of $44.85. The stock has a market cap of $4.49 billion, a PE ratio of 18.92 and a beta of 0.59. New Jersey Resources Co. has a 52-week low of $39.44 and a 52-week high of $48.68.

New Jersey Resources (NYSE:NJR - Get Free Report) last issued its earnings results on Tuesday, August 6th. The utilities provider reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.07). New Jersey Resources had a net margin of 13.61% and a return on equity of 11.06%. The firm had revenue of $275.64 million during the quarter, compared to analysts' expectations of $283.56 million. During the same quarter in the prior year, the company earned $0.10 EPS. New Jersey Resources's quarterly revenue was up 4.4% on a year-over-year basis. As a group, equities research analysts anticipate that New Jersey Resources Co. will post 2.95 EPS for the current year.

New Jersey Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 23rd were given a dividend of $0.45 per share. This is a boost from New Jersey Resources's previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 3.98%. The ex-dividend date was Monday, September 23rd. New Jersey Resources's dividend payout ratio (DPR) is currently 75.31%.

Analysts Set New Price Targets

NJR has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their price target on New Jersey Resources from $47.00 to $51.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upped their target price on New Jersey Resources from $48.00 to $49.00 and gave the company a "neutral" rating in a research report on Thursday, August 15th. Mizuho raised their price target on New Jersey Resources from $45.00 to $47.00 and gave the stock a "neutral" rating in a report on Friday, September 20th. Finally, StockNews.com downgraded shares of New Jersey Resources from a "hold" rating to a "sell" rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $49.00.

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.