New Jersey Resources Co. (NYSE:NJR) Stock Holdings Trimmed by Sciencast Management LP

Sciencast Management LP cut its position in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) by 81.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,690 shares of the utilities provider's stock after selling 20,405 shares during the quarter. Sciencast Management LP's holdings in New Jersey Resources were worth $219,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Arizona State Retirement System increased its position in New Jersey Resources by 1.1% during the 4th quarter. Arizona State Retirement System now owns 28,781 shares of the utilities provider's stock worth $1,343,000 after purchasing an additional 325 shares in the last quarter. Good Life Advisors LLC raised its stake in shares of New Jersey Resources by 1.0% in the 4th quarter. Good Life Advisors LLC now owns 34,643 shares of the utilities provider's stock valued at $1,616,000 after acquiring an additional 327 shares during the period. UMB Bank n.a. lifted its holdings in shares of New Jersey Resources by 69.8% during the 4th quarter. UMB Bank n.a. now owns 839 shares of the utilities provider's stock valued at $39,000 after acquiring an additional 345 shares in the last quarter. Greenwood Capital Associates LLC increased its holdings in New Jersey Resources by 1.5% in the 4th quarter. Greenwood Capital Associates LLC now owns 25,522 shares of the utilities provider's stock valued at $1,191,000 after purchasing an additional 383 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of New Jersey Resources by 23.6% during the fourth quarter. GAMMA Investing LLC now owns 2,288 shares of the utilities provider's stock worth $107,000 after purchasing an additional 437 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In other news, CFO Roberto Bel sold 2,346 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $48.58, for a total transaction of $113,968.68. Following the completion of the transaction, the chief financial officer now owns 23,822 shares in the company, valued at approximately $1,157,272.76. This represents a 8.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.72% of the company's stock.

New Jersey Resources Stock Up 0.3 %

NJR traded up $0.17 during trading on Thursday, hitting $48.41. The company had a trading volume of 352,344 shares, compared to its average volume of 463,659. New Jersey Resources Co. has a 1-year low of $40.62 and a 1-year high of $51.95. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.89 and a quick ratio of 0.61. The company has a market cap of $4.85 billion, a PE ratio of 14.58 and a beta of 0.57. The business has a 50-day moving average of $47.53 and a 200-day moving average of $47.35.

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

New Jersey Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.80 dividend on an annualized basis and a yield of 3.72%. New Jersey Resources's payout ratio is currently 54.22%.

Analysts Set New Price Targets

Several equities research analysts recently commented on NJR shares. StockNews.com upgraded New Jersey Resources from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. Wells Fargo & Company boosted their target price on shares of New Jersey Resources from $51.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 27th. Guggenheim raised their price target on shares of New Jersey Resources from $53.00 to $54.00 and gave the company a "neutral" rating in a report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. cut their price objective 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 equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, New Jersey Resources currently has an average rating of "Moderate Buy" and an average target price 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.