Point72 Asset Management L.P. Raises Stock Holdings in New Jersey Resources Co. (NYSE:NJR)

Point72 Asset Management L.P. boosted its stake in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) by 67.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 305,102 shares of the utilities provider's stock after purchasing an additional 123,100 shares during the quarter. Point72 Asset Management L.P. owned 0.30% of New Jersey Resources worth $14,233,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Nomura Holdings Inc. acquired a new stake in shares of New Jersey Resources in the fourth quarter valued at $613,000. Nuveen Asset Management LLC raised its stake in shares of New Jersey Resources by 2.9% during the fourth quarter. Nuveen Asset Management LLC now owns 475,830 shares of the utilities provider's stock worth $22,197,000 after buying an additional 13,580 shares during the last quarter. Occudo Quantitative Strategies LP boosted its stake in New Jersey Resources by 48.8% in the fourth quarter. Occudo Quantitative Strategies LP now owns 8,685 shares of the utilities provider's stock valued at $405,000 after acquiring an additional 2,849 shares during the last quarter. Millennium Management LLC boosted its position in shares of New Jersey Resources by 66.0% in the 4th quarter. Millennium Management LLC now owns 1,363,495 shares of the utilities provider's stock worth $63,607,000 after purchasing an additional 542,089 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of New Jersey Resources by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,941 shares of the utilities provider's stock worth $2,610,000 after purchasing an additional 2,159 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

New Jersey Resources Stock Performance

Shares of NYSE:NJR traded up $0.11 on Friday, reaching $45.58. 61,315 shares of the company's stock were exchanged, compared to its average volume of 543,388. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 13.73 and a beta of 0.66. New Jersey Resources Co. has a twelve month low of $41.58 and a twelve month high of $51.95. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 1.29. The company has a fifty day moving average of $48.23 and a 200-day moving average of $47.82.

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 return on equity of 15.72% and a net margin of 18.25%. The business 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. New Jersey Resources's revenue was up 38.8% compared to the same quarter last year. On average, research analysts predict that New Jersey Resources Co. will post 3.15 EPS for the current fiscal year.

New Jersey Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, June 10th. This represents a $1.80 annualized dividend and a yield of 3.95%. New Jersey Resources's dividend payout ratio is presently 43.69%.

Insider Transactions at New Jersey Resources

In other New Jersey Resources news, CFO Roberto Bel sold 2,346 shares of the firm's stock in a transaction that occurred on 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 trade represents a 8.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NJR. Wells Fargo & Company increased their target price on New Jersey Resources from $51.00 to $53.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Wall Street Zen upgraded New Jersey Resources from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. 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. Mizuho cut their price target on New Jersey Resources from $52.00 to $50.00 and set a "neutral" rating on the stock in a report on Thursday, May 15th. Finally, New Street Research set a $51.00 price target on shares of New Jersey Resources in a research note on Tuesday, April 1st. Five investment 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. According to MarketBeat.com, New Jersey Resources has a consensus rating of "Hold" and a consensus target price of $51.83.

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.