Nebula Research & Development LLC Acquires New Stake in New Jersey Resources Co. (NYSE:NJR)

Nebula Research & Development LLC bought a new position in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 18,154 shares of the utilities provider's stock, valued at approximately $847,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Arizona State Retirement System raised its holdings in shares of New Jersey Resources by 1.1% in the fourth quarter. Arizona State Retirement System now owns 28,781 shares of the utilities provider's stock valued at $1,343,000 after purchasing an additional 325 shares during the last quarter. Good Life Advisors LLC increased its stake in 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 buying an additional 327 shares during the last quarter. UMB Bank n.a. boosted its stake 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 worth $39,000 after buying an additional 345 shares during the last quarter. Greenwood Capital Associates LLC grew its holdings in shares of 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 acquiring an additional 383 shares in the last quarter. Finally, Franklin Resources Inc. increased its position 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 valued at $5,736,000 after acquiring an additional 408 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NJR shares. StockNews.com raised New Jersey Resources from a "sell" rating to a "hold" rating in a research report on Tuesday, February 4th. Guggenheim boosted their price target 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. New Street Research set a $51.00 target price on New Jersey Resources in a report on Tuesday, April 1st. Jefferies Financial Group assumed coverage on New Jersey Resources in a report on Tuesday, April 1st. They set a "hold" rating and a $51.00 price target for the company. Finally, JPMorgan Chase & Co. dropped 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 research report on Tuesday, January 28th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $51.50.

Insider Buying and Selling at New Jersey Resources

In related news, CFO Roberto Bel sold 1,173 shares of the company's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $50.00, for a total transaction of $58,650.00. Following the completion of the transaction, the chief financial officer now directly owns 22,649 shares in the company, valued at $1,132,450. This represents a 4.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.72% of the company's stock.

New Jersey Resources Price Performance

Shares of NJR stock traded up $0.01 during trading on Thursday, hitting $48.95. The company had a trading volume of 669,353 shares, compared to its average volume of 530,899. The stock's 50-day moving average price is $48.54 and its 200 day moving average price is $47.72. New Jersey Resources Co. has a one year low of $41.58 and a one year high of $51.95. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.61 and a current ratio of 0.89. The firm has a market capitalization of $4.91 billion, a P/E ratio of 14.74 and a beta of 0.58.

New Jersey Resources (NYSE:NJR - Get Free Report) last issued its quarterly 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 period in the previous year, the company earned $0.74 EPS. Equities analysts expect that New Jersey Resources Co. will post 3.15 EPS for the current fiscal year.

New Jersey Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.80 annualized dividend and a dividend yield of 3.68%. New Jersey Resources's dividend payout ratio is currently 54.22%.

About New Jersey Resources

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.