Mackenzie Financial Corp Has $293,000 Holdings in New Jersey Resources Co. (NYSE:NJR)

Mackenzie Financial Corp decreased its holdings in New Jersey Resources Co. (NYSE:NJR - Free Report) by 64.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,289 shares of the utilities provider's stock after selling 11,358 shares during the quarter. Mackenzie Financial Corp's holdings in New Jersey Resources were worth $293,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Roxbury Financial LLC bought a new position in shares of New Jersey Resources in the fourth quarter worth $25,000. Halbert Hargrove Global Advisors LLC acquired a new stake in New Jersey Resources during the fourth quarter worth about $42,000. Newbridge Financial Services Group Inc. bought a new position in New Jersey Resources in the 4th quarter valued at about $51,000. Lazard Asset Management LLC increased its holdings in New Jersey Resources by 6,245.8% in the 4th quarter. Lazard Asset Management LLC now owns 1,523 shares of the utilities provider's stock valued at $71,000 after buying an additional 1,499 shares during the period. Finally, Quarry LP raised its position in shares of New Jersey Resources by 13,692.3% in the 4th quarter. Quarry LP now owns 1,793 shares of the utilities provider's stock valued at $84,000 after buying an additional 1,780 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Transactions at New Jersey Resources

In other news, CFO Roberto Bel sold 2,346 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $48.58, for a total value of $113,968.68. Following the completion of the sale, the chief financial officer now owns 23,822 shares of the company's stock, valued at approximately $1,157,272.76. This represents a 8.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.72% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on NJR. JPMorgan Chase & Co. reduced their price target on shares of New Jersey Resources from $56.00 to $51.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 28th. Jefferies Financial Group initiated coverage on New Jersey Resources in a report on Tuesday, April 1st. They issued a "hold" rating and a $51.00 target price on the stock. Mizuho lowered their price target on New Jersey Resources from $52.00 to $50.00 and set a "neutral" rating for the company in a report on Thursday, May 15th. Wall Street Zen upgraded New Jersey Resources from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, Wells Fargo & Company lifted their target price on New Jersey Resources from $51.00 to $53.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Five investment 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 stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $51.67.

New Jersey Resources Price Performance

Shares of NYSE NJR traded up $0.01 during mid-day trading on Friday, hitting $44.66. 432,988 shares of the stock traded hands, compared to its average volume of 545,216. The company has a market cap of $4.48 billion, a PE ratio of 13.45 and a beta of 0.62. New Jersey Resources Co. has a twelve month low of $41.68 and a twelve month high of $51.95. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.89 and a quick ratio of 0.61. The firm has a 50 day simple moving average of $47.60 and a two-hundred day simple moving average of $47.70.

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

New Jersey Resources Announces Dividend

The firm also recently declared 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 4.03%. The ex-dividend date of this dividend is Tuesday, June 10th. New Jersey Resources's payout ratio is currently 43.69%.

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.