New Jersey Resources Co. (NYSE:NJR) Shares Purchased by Voloridge Investment Management LLC

Voloridge Investment Management LLC raised its position in New Jersey Resources Co. (NYSE:NJR - Free Report) by 172.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,459 shares of the utilities provider's stock after purchasing an additional 15,491 shares during the quarter. Voloridge Investment Management LLC's holdings in New Jersey Resources were worth $1,141,000 as of its most recent SEC filing.

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

Insider Buying and Selling at New Jersey Resources

In other news, CFO Roberto Bel sold 2,346 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $48.58, for a total transaction of $113,968.68. Following the transaction, the chief financial officer now directly owns 23,822 shares in the company, valued at $1,157,272.76. The trade was a 8.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NJR has been the subject of a number of research reports. Jefferies Financial Group started coverage on New Jersey Resources in a report on Tuesday, April 1st. They issued a "hold" rating and a $51.00 price objective for the company. Mizuho decreased their target price 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. Wells Fargo & Company raised their price objective 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. New Street Research set a $51.00 price target on New Jersey Resources in a research note on Tuesday, April 1st. Finally, Guggenheim raised their price target 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. Five equities 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 stock. Based on data from MarketBeat, New Jersey Resources has a consensus rating of "Hold" and an average target price of $51.67.

New Jersey Resources Price Performance

Shares of NJR stock traded up $0.18 during mid-day trading on Friday, hitting $45.90. 605,643 shares of the stock were exchanged, compared to its average volume of 547,027. The firm has a fifty day moving average of $47.92 and a 200 day moving average of $47.78. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 1.29. New Jersey Resources Co. has a 52-week low of $41.68 and a 52-week high of $51.95. The company has a market cap of $4.61 billion, a PE ratio of 13.83 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 EPS for the quarter, beating analysts' consensus estimates of $1.65 by $0.11. The company had revenue of $913.03 million during the quarter, compared to the consensus estimate of $732.00 million. New Jersey Resources had a net margin of 18.25% and a return on equity of 15.72%. New Jersey Resources's quarterly revenue was up 38.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.41 EPS. Research analysts anticipate that New Jersey Resources Co. will post 3.15 earnings per share for the current year.

New Jersey Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be given a $0.45 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $1.80 annualized dividend and a yield of 3.92%. New Jersey Resources's dividend payout ratio is presently 43.69%.

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.