Point72 Asset Management L.P. Makes New Investment in New Jersey Resources Co. (NYSE:NJR)

Point72 Asset Management L.P. purchased a new position in New Jersey Resources Co. (NYSE:NJR - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 182,002 shares of the utilities provider's stock, valued at approximately $8,590,000. Point72 Asset Management L.P. owned about 0.18% of New Jersey Resources at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in shares of New Jersey Resources by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,956,772 shares of the utilities provider's stock worth $126,372,000 after acquiring an additional 154,441 shares during the period. Bank of New York Mellon Corp boosted its position in shares of New Jersey Resources by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 1,284,245 shares of the utilities provider's stock worth $54,889,000 after buying an additional 40,094 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of New Jersey Resources by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,227,815 shares of the utilities provider's stock worth $57,953,000 after buying an additional 33,772 shares during the period. AQR Capital Management LLC increased its position in 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. Finally, Segall Bryant & Hamill LLC raised its stake in New Jersey Resources by 4.4% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 422,000 shares of the utilities provider's stock valued at $19,918,000 after acquiring an additional 17,664 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NJR shares. StockNews.com upgraded shares of New Jersey Resources from a "sell" rating to a "hold" rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on New Jersey Resources from $48.00 to $49.00 and gave the company a "neutral" rating in a research note on Thursday, August 15th. Mizuho boosted their price target on shares of New Jersey Resources from $45.00 to $47.00 and gave the stock a "neutral" rating in a research report on Friday, September 20th. Wells Fargo & Company lifted their price objective on shares of New Jersey Resources from $51.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 27th. Finally, Guggenheim increased their target price on shares of New Jersey Resources from $46.00 to $49.00 and gave the company a "neutral" rating in a research note on Wednesday, November 27th. Five research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, New Jersey Resources presently has a consensus rating of "Hold" and a consensus target price of $49.75.

New Jersey Resources Trading Down 1.2 %

Shares of NYSE:NJR traded down $0.62 during mid-day trading on Friday, hitting $49.18. The stock had a trading volume of 469,047 shares, compared to its average volume of 458,549. The company's 50 day moving average is $47.59 and its 200-day moving average is $45.74. New Jersey Resources Co. has a 12-month low of $39.44 and a 12-month high of $51.94. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.36 and a current ratio of 0.62. The company has a market cap of $4.91 billion, a PE ratio of 16.84 and a beta of 0.63.

New Jersey Resources (NYSE:NJR - Get Free Report) last issued its earnings results on Monday, November 25th. The utilities provider reported $0.89 EPS for the quarter, hitting the consensus estimate of $0.89. The business had revenue of $395.78 million during the quarter, compared to analysts' expectations of $406.97 million. New Jersey Resources had a return on equity of 13.54% and a net margin of 16.13%. New Jersey Resources's revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 earnings per share. On average, sell-side analysts predict that New Jersey Resources Co. will post 3.05 EPS for the current year.

New Jersey Resources Dividend Announcement

The business 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 dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Wednesday, December 11th. New Jersey Resources's dividend payout ratio is currently 61.64%.

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.