BNP Paribas Financial Markets Trims Stake in New Jersey Resources Co. (NYSE:NJR)

BNP Paribas Financial Markets lowered its holdings in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) by 18.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,801 shares of the utilities provider's stock after selling 8,823 shares during the period. BNP Paribas Financial Markets' holdings in New Jersey Resources were worth $1,857,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of NJR. Roxbury Financial LLC bought a new stake in New Jersey Resources during the fourth quarter worth about $25,000. UMB Bank n.a. boosted its stake in New Jersey Resources by 69.8% during the fourth quarter. UMB Bank n.a. now owns 839 shares of the utilities provider's stock worth $39,000 after acquiring an additional 345 shares in the last quarter. Halbert Hargrove Global Advisors LLC bought a new stake in New Jersey Resources during the fourth quarter worth about $42,000. Newbridge Financial Services Group Inc. bought a new stake in New Jersey Resources during the fourth quarter worth about $51,000. Finally, Quarry LP boosted its stake in New Jersey Resources by 13,692.3% during the fourth quarter. Quarry LP now owns 1,793 shares of the utilities provider's stock worth $84,000 after acquiring an additional 1,780 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

New Jersey Resources Stock Performance

Shares of NJR traded up $0.28 during mid-day trading on Friday, hitting $45.75. 431,934 shares of the company traded hands, compared to its average volume of 545,175. 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 stock has a 50-day moving average price of $48.17 and a two-hundred day moving average price of $47.82. New Jersey Resources Co. has a 1 year low of $41.58 and a 1 year high of $51.95. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 13.78 and a beta of 0.66.

New Jersey Resources (NYSE:NJR - Get Free Report) last released 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 during the quarter, compared to analysts' expectations of $732.00 million. During the same period in the previous year, the company earned $1.41 earnings per share. The firm's quarterly revenue was up 38.8% on a year-over-year basis. Equities analysts anticipate that New Jersey Resources Co. will post 3.15 earnings per share for the current year.

New Jersey Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be issued 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 3.93%. New Jersey Resources's payout ratio is 43.69%.

Insider Activity

In other news, CFO Roberto Bel sold 1,173 shares of the business'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 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 the SEC website. 0.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NJR. New Street Research set a $51.00 price objective on shares of New Jersey Resources in a research note on Tuesday, April 1st. Guggenheim upped their target price on shares of New Jersey Resources from $53.00 to $54.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 5th. Wall Street Zen upgraded shares of New Jersey Resources from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Jefferies Financial Group assumed coverage on shares of New Jersey Resources in a research note on Tuesday, April 1st. They issued a "hold" rating and a $51.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their target price on shares of New Jersey Resources from $54.00 to $52.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, New Jersey Resources has an average rating of "Hold" and a consensus target price of $51.83.

New Jersey Resources 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.