20,890 Shares in New Jersey Resources Co. (NYSE:NJR) Acquired by Dark Forest Capital Management LP

Dark Forest Capital Management LP purchased a new position in shares of 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 fund purchased 20,890 shares of the utilities provider's stock, valued at approximately $975,000.

Several other large investors also recently modified their holdings of NJR. Arizona State Retirement System boosted its holdings in 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 worth $1,343,000 after purchasing an additional 325 shares during the period. Good Life Advisors LLC grew its stake in New Jersey Resources by 1.0% during the 4th quarter. Good Life Advisors LLC now owns 34,643 shares of the utilities provider's stock worth $1,616,000 after buying an additional 327 shares during the last quarter. UMB Bank n.a. lifted its stake in New Jersey Resources by 69.8% in the fourth quarter. UMB Bank n.a. now owns 839 shares of the utilities provider's stock valued at $39,000 after buying an additional 345 shares during the last quarter. Greenwood Capital Associates LLC grew its position in shares of New Jersey Resources by 1.5% during the fourth quarter. Greenwood Capital Associates LLC now owns 25,522 shares of the utilities provider's stock worth $1,191,000 after acquiring an additional 383 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of New Jersey Resources by 0.3% in the 4th quarter. Franklin Resources Inc. now owns 122,953 shares of the utilities provider's stock worth $5,736,000 after acquiring an additional 408 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at New Jersey Resources

In related 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 value of $113,968.68. Following the sale, the chief financial officer now owns 23,822 shares of the company's stock, valued at $1,157,272.76. The trade was a 8.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.72% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NJR has been the subject of several analyst reports. Jefferies Financial Group initiated coverage on New Jersey Resources in a research report on Tuesday, April 1st. They set a "hold" rating and a $51.00 price objective for the company. New Street Research set a $51.00 price target on New Jersey Resources in a research note on Tuesday, April 1st. Guggenheim lifted their price objective on shares of New Jersey Resources from $53.00 to $54.00 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. decreased their target price on shares of New Jersey Resources from $54.00 to $52.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. Finally, StockNews.com upgraded shares of New Jersey Resources from a "sell" rating to a "hold" rating in a research report on Tuesday, February 4th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $51.50.

New Jersey Resources Price Performance

Shares of NYSE NJR traded down $0.24 during midday trading on Tuesday, reaching $48.99. The company's stock had a trading volume of 116,708 shares, compared to its average volume of 526,508. New Jersey Resources Co. has a one year low of $41.58 and a one year high of $51.95. The company has a market cap of $4.91 billion, a price-to-earnings ratio of 14.74 and a beta of 0.58. The company has a 50 day moving average price of $48.44 and a 200 day moving average price of $47.70. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 1.29.

New Jersey Resources (NYSE:NJR - Get Free Report) last issued its earnings results on Monday, February 3rd. The utilities provider reported $1.29 EPS for the quarter, topping the consensus estimate 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 firm earned $0.74 earnings per share. On average, equities research analysts expect that New Jersey Resources Co. will post 3.15 EPS for the current year.

New Jersey Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Tuesday, June 10th. New Jersey Resources's dividend payout ratio (DPR) is 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.