New Jersey Resources Co. (NYSE:NJR) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its stake in New Jersey Resources Co. (NYSE:NJR - Free Report) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,591,445 shares of the utilities provider's stock after acquiring an additional 32,413 shares during the quarter. Wells Fargo & Company MN owned 2.58% of New Jersey Resources worth $120,891,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Huntington National Bank lifted its position in shares of New Jersey Resources by 31.6% during the 4th quarter. Huntington National Bank now owns 2,811 shares of the utilities provider's stock valued at $131,000 after buying an additional 675 shares in the last quarter. Trexquant Investment LP boosted its position in shares of New Jersey Resources by 76.7% in the fourth quarter. Trexquant Investment LP now owns 221,346 shares of the utilities provider's stock worth $10,326,000 after purchasing an additional 96,103 shares during the period. Franklin Resources Inc. increased its stake in shares of New Jersey Resources by 0.3% in the fourth quarter. Franklin Resources Inc. now owns 122,953 shares of the utilities provider's stock worth $5,736,000 after purchasing an additional 408 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of New Jersey Resources by 91.6% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,061 shares of the utilities provider's stock valued at $423,000 after purchasing an additional 4,333 shares during the period. Finally, Pictet Asset Management Holding SA raised its position in shares of New Jersey Resources by 17.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 19,663 shares of the utilities provider's stock valued at $917,000 after purchasing an additional 2,916 shares during the period. 70.98% of the stock is owned by institutional investors.

New Jersey Resources Trading Down 0.2 %

Shares of New Jersey Resources stock traded down $0.08 on Friday, reaching $47.54. The company had a trading volume of 103,758 shares, compared to its average volume of 522,794. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 14.33 and a beta of 0.58. 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 firm's 50-day moving average price is $47.73 and its two-hundred day moving average price is $47.43. 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 announced its earnings results on Monday, February 3rd. The utilities provider reported $1.29 earnings per share for the quarter, beating 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 company earned $0.74 EPS. As a group, research analysts predict that New Jersey Resources Co. will post 3.15 earnings per share for the current fiscal year.

New Jersey Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th were given a $0.45 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.80 annualized dividend and a yield of 3.79%. New Jersey Resources's dividend payout ratio (DPR) is 54.22%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NJR shares. JPMorgan Chase & Co. cut their price target on New Jersey Resources from $54.00 to $52.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Guggenheim increased their target price on New Jersey Resources from $53.00 to $54.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. Jefferies Financial Group initiated coverage on New Jersey Resources in a report on Tuesday, April 1st. They issued a "hold" rating and a $51.00 price target on the stock. StockNews.com upgraded shares of New Jersey Resources from a "sell" rating to a "hold" rating in a research report on Tuesday, February 4th. Finally, New Street Research set a $51.00 price objective on shares of New Jersey Resources in a report on Tuesday, April 1st. Five equities research 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. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $51.50.

Insiders Place Their Bets

In other New Jersey Resources news, CFO Roberto Bel sold 2,346 shares of the firm'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 transaction, the chief financial officer now owns 23,822 shares of the company's stock, valued at approximately $1,157,272.76. This trade represents a 8.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.72% of the company's stock.

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.