111 Capital Invests $272,000 in New Jersey Resources Co. (NYSE:NJR)

111 Capital purchased a new stake in New Jersey Resources Co. (NYSE:NJR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,841 shares of the utilities provider's stock, valued at approximately $272,000.

Other large investors have also recently modified their holdings of the company. Arizona State Retirement System boosted its stake in shares of New Jersey Resources by 1.1% during 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 in the last quarter. Good Life Advisors LLC grew its stake in New Jersey Resources by 1.0% in the fourth quarter. Good Life Advisors LLC now owns 34,643 shares of the utilities provider's stock valued at $1,616,000 after purchasing an additional 327 shares during the last quarter. Greenwood Capital Associates LLC raised its holdings in New Jersey Resources by 1.5% in the fourth quarter. Greenwood Capital Associates LLC now owns 25,522 shares of the utilities provider's stock worth $1,191,000 after purchasing an additional 383 shares in the last quarter. Franklin Resources Inc. raised its holdings in 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. Finally, ICW Investment Advisors LLC lifted its position in shares of New Jersey Resources by 2.4% during the fourth quarter. ICW Investment Advisors LLC now owns 17,721 shares of the utilities provider's stock valued at $827,000 after buying an additional 414 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insider Activity

In other news, CFO Roberto Bel sold 1,173 shares of the business's stock in a transaction dated 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 sale, the chief financial officer now owns 22,649 shares of the company's stock, valued at $1,132,450. The trade was a 4.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.72% of the company's stock.

New Jersey Resources Stock Performance

New Jersey Resources stock traded down $1.28 during mid-day trading on Wednesday, hitting $44.77. The company had a trading volume of 523,965 shares, compared to its average volume of 547,101. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 13.48 and a beta of 0.66. New Jersey Resources Co. has a 12-month low of $41.68 and a 12-month high of $51.95. The company's fifty day moving average is $47.69 and its 200-day moving average is $47.73. 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 posted its earnings results on Monday, May 5th. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.11. The firm had revenue of $913.03 million during the quarter, compared to analysts' expectations of $732.00 million. New Jersey Resources had a net margin of 18.25% and a return on equity of 15.72%. The business's revenue was up 38.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.41 EPS. Equities research analysts predict that New Jersey Resources Co. will post 3.15 EPS for the current year.

New Jersey Resources Announces Dividend

The company 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. This represents a $1.80 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Tuesday, June 10th. New Jersey Resources's payout ratio is currently 43.69%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NJR shares. Mizuho decreased their target price on shares of 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. New Street Research set a $51.00 price objective on New Jersey Resources in a report on Tuesday, April 1st. Jefferies Financial Group began 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 for the company. Guggenheim upped their target price on New Jersey Resources from $53.00 to $54.00 and gave the company a "neutral" rating in a research report on Wednesday, February 5th. Finally, Wall Street Zen raised shares of New Jersey Resources from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $51.67.

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.