Canada Pension Plan Investment Board Takes Position in New Jersey Resources Co. (NYSE:NJR)

Canada Pension Plan Investment Board bought a new stake in New Jersey Resources Co. (NYSE:NJR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 20,100 shares of the utilities provider's stock, valued at approximately $938,000.

Other hedge funds also recently modified their holdings of the company. Marshall Wace LLP acquired a new stake in New Jersey Resources during the 4th quarter worth $611,000. Jump Financial LLC boosted its holdings in New Jersey Resources by 204.4% during the fourth quarter. Jump Financial LLC now owns 51,881 shares of the utilities provider's stock worth $2,420,000 after buying an additional 34,837 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of New Jersey Resources during the 4th quarter worth about $548,000. Barclays PLC raised its position in shares of New Jersey Resources by 29.5% in the 4th quarter. Barclays PLC now owns 245,796 shares of the utilities provider's stock valued at $11,466,000 after acquiring an additional 55,969 shares during the period. Finally, Bragg Financial Advisors Inc grew its holdings in New Jersey Resources by 0.5% during the fourth quarter. Bragg Financial Advisors Inc now owns 348,607 shares of the utilities provider's stock valued at $16,263,000 after purchasing an additional 1,619 shares during the period. Institutional investors own 70.98% of the company's stock.

Insider Buying and Selling

In other news, CFO Roberto Bel sold 1,173 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $50.00, for a total value of $58,650.00. Following the transaction, the chief financial officer now owns 22,649 shares of the company's stock, valued at approximately $1,132,450. This represents a 4.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NJR has been the subject of several research analyst reports. Jefferies Financial Group started coverage on shares of New Jersey Resources in a report on Tuesday, April 1st. They issued a "hold" rating and a $51.00 price target for the company. JPMorgan Chase & Co. lowered their price target on New Jersey Resources from $54.00 to $52.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Guggenheim lifted their price objective on New Jersey Resources from $53.00 to $54.00 and gave the company a "neutral" rating in a report on Wednesday, February 5th. StockNews.com upgraded shares of New Jersey Resources from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. Finally, New Street Research set a $51.00 price target on New Jersey Resources in a report on Tuesday, April 1st. Five 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. According to MarketBeat, New Jersey Resources presently has an average rating of "Hold" and an average target price of $51.50.

New Jersey Resources Stock Down 0.2 %

Shares of New Jersey Resources stock traded down $0.09 on Wednesday, reaching $48.98. 889,207 shares of the company were exchanged, compared to its average volume of 530,341. New Jersey Resources Co. has a one year low of $41.58 and a one year high of $51.95. 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 company has a 50-day moving average of $48.54 and a 200 day moving average of $47.72. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 14.75 and a beta of 0.58.

New Jersey Resources (NYSE:NJR - Get Free Report) last announced its quarterly earnings data on Monday, February 3rd. The utilities provider reported $1.29 EPS for the quarter, beating analysts' consensus estimates 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 earnings per share. On average, equities research analysts forecast that New Jersey Resources Co. will post 3.15 earnings per share for the current year.

New Jersey Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, June 10th. This represents a $1.80 annualized dividend and a dividend yield of 3.67%. New Jersey Resources's dividend payout ratio is currently 54.22%.

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.