Quantbot Technologies LP Boosts Stock Position in New Jersey Resources Co. (NYSE:NJR)

Quantbot Technologies LP boosted its stake in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) by 253.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,875 shares of the utilities provider's stock after buying an additional 53,667 shares during the period. Quantbot Technologies LP owned approximately 0.07% of New Jersey Resources worth $3,493,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of New Jersey Resources by 2.8% in 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of New Jersey Resources by 59.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 33,276 shares of the utilities provider's stock worth $1,552,000 after purchasing an additional 12,353 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of New Jersey Resources by 8.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,211,702 shares of the utilities provider's stock valued at $56,526,000 after purchasing an additional 96,393 shares in the last quarter. Holocene Advisors LP lifted its stake in New Jersey Resources by 22.2% during the 3rd quarter. Holocene Advisors LP now owns 60,162 shares of the utilities provider's stock valued at $2,840,000 after acquiring an additional 10,946 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of New Jersey Resources by 18.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 39,514 shares of the utilities provider's stock valued at $1,843,000 after acquiring an additional 6,250 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

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Insider Activity

In related news, CFO Roberto Bel sold 2,346 shares of the firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $48.58, for a total transaction of $113,968.68. Following the sale, the chief financial officer now owns 23,822 shares in the company, valued at approximately $1,157,272.76. This trade represents a 8.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.72% of the company's stock.

New Jersey Resources Stock Performance

Shares of NYSE:NJR traded up $0.31 on Wednesday, hitting $48.20. 484,058 shares of the company were exchanged, compared to its average volume of 463,266. The stock's 50 day moving average price is $47.50 and its 200 day moving average price is $47.34. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $4.83 billion, a P/E ratio of 14.52 and a beta of 0.57. New Jersey Resources Co. has a 1-year low of $40.62 and a 1-year high of $51.95.

New Jersey Resources (NYSE:NJR - Get Free Report) last issued its quarterly earnings results on Monday, February 3rd. The utilities provider reported $1.29 earnings per share for the quarter, topping 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 in the prior year, the firm posted $0.74 EPS. Sell-side analysts predict that New Jersey Resources Co. will post 3.15 EPS for the current year.

New Jersey Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.73%. The ex-dividend date is Tuesday, March 11th. New Jersey Resources's dividend payout ratio is currently 54.22%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NJR. StockNews.com upgraded shares of New Jersey Resources from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. Wells Fargo & Company lifted their price objective 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. Guggenheim boosted their target price on shares of New Jersey Resources from $53.00 to $54.00 and gave the company a "neutral" rating in a research report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. lowered their price target on shares of New Jersey Resources from $54.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, New Jersey Resources has an average rating of "Moderate Buy" and an average price target of $51.75.

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.