Ensign Peak Advisors Inc Lowers Stock Holdings in New Jersey Resources Co. (NYSE:NJR)

Ensign Peak Advisors Inc cut its stake in New Jersey Resources Co. (NYSE:NJR - Free Report) by 20.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,041 shares of the utilities provider's stock after selling 7,127 shares during the quarter. Ensign Peak Advisors Inc's holdings in New Jersey Resources were worth $1,308,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank bought a new stake in New Jersey Resources in the 4th quarter valued at about $73,124,000. Prudential Financial Inc. grew its position in New Jersey Resources by 3,076.5% during the fourth quarter. Prudential Financial Inc. now owns 321,332 shares of the utilities provider's stock worth $14,990,000 after buying an additional 311,216 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in New Jersey Resources by 7.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,309,166 shares of the utilities provider's stock valued at $154,372,000 after acquiring an additional 216,000 shares in the last quarter. Northern Trust Corp lifted its position in shares of New Jersey Resources by 18.5% during the 4th quarter. Northern Trust Corp now owns 1,350,358 shares of the utilities provider's stock valued at $62,994,000 after acquiring an additional 210,538 shares during the period. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of New Jersey Resources by 61.7% during the 4th quarter. Cubist Systematic Strategies LLC now owns 303,906 shares of the utilities provider's stock worth $14,177,000 after purchasing an additional 115,995 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

Insider Transactions at New Jersey Resources

In related news, CFO Roberto Bel sold 1,173 shares of the firm'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 value of $58,650.00. Following the completion of the transaction, the chief financial officer now directly owns 22,649 shares of the company's stock, valued at approximately $1,132,450. This trade represents a 4.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.72% of the company's stock.

New Jersey Resources Trading Down 0.8%

Shares of NYSE:NJR traded down $0.37 during mid-day trading on Tuesday, hitting $46.71. The company had a trading volume of 886,451 shares, compared to its average volume of 543,412. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.89 and a quick ratio of 0.61. New Jersey Resources Co. has a one year low of $41.58 and a one year high of $51.95. The firm has a fifty day moving average price of $48.40 and a 200 day moving average price of $47.84. The company has a market capitalization of $4.69 billion, a PE ratio of 14.07 and a beta of 0.66.

New Jersey Resources (NYSE:NJR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The utilities provider reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.11. New Jersey Resources had a net margin of 18.25% and a return on equity of 15.72%. The firm had revenue of $913.03 million for the quarter, compared to analyst estimates of $732.00 million. During the same quarter in the prior year, the business earned $1.41 earnings per share. The business's quarterly revenue was up 38.8% compared to the same quarter last year. As a group, research analysts forecast that New Jersey Resources Co. will post 3.15 EPS for the current year.

New Jersey Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.80 dividend on an annualized basis and a yield of 3.85%. New Jersey Resources's dividend payout ratio (DPR) is currently 43.69%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NJR. Jefferies Financial Group started coverage on shares of New Jersey Resources in a research note on Tuesday, April 1st. They set a "hold" rating and a $51.00 price objective on the stock. Guggenheim upped their target price on New Jersey Resources from $53.00 to $54.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 5th. StockNews.com upgraded New Jersey Resources from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Mizuho dropped their price objective on New Jersey Resources from $52.00 to $50.00 and set a "neutral" rating for the company in a research report on Thursday, May 15th. Finally, New Street Research set a $51.00 price target on shares of 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 issued a strong buy rating to the company. According to MarketBeat.com, New Jersey Resources presently has a consensus rating of "Hold" and a consensus target price of $51.83.

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.