Nomura Holdings Inc. Buys New Stake in New Jersey Resources Co. (NYSE:NJR)

Nomura Holdings Inc. purchased a new position in New Jersey Resources Co. (NYSE:NJR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 13,134 shares of the utilities provider's stock, valued at approximately $613,000.

Several other hedge funds and other institutional investors have also modified their holdings of NJR. Roxbury Financial LLC bought a new position in New Jersey Resources during the 4th quarter worth $25,000. UMB Bank n.a. raised its holdings in shares of New Jersey Resources by 69.8% during the fourth quarter. UMB Bank n.a. now owns 839 shares of the utilities provider's stock valued at $39,000 after buying an additional 345 shares during the last quarter. Halbert Hargrove Global Advisors LLC acquired a new stake in New Jersey Resources in the 4th quarter valued at approximately $42,000. Newbridge Financial Services Group Inc. bought a new stake in New Jersey Resources during the 4th quarter valued at $51,000. Finally, Lazard Asset Management LLC grew its stake in shares of New Jersey Resources by 6,245.8% in the fourth quarter. Lazard Asset Management LLC now owns 1,523 shares of the utilities provider's stock worth $71,000 after purchasing an additional 1,499 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

New Jersey Resources Stock Up 0.6%

NYSE NJR traded up $0.28 during trading on Monday, reaching $45.75. 431,934 shares of the company's stock were exchanged, compared to its average volume of 545,036. The firm has a market capitalization of $4.59 billion, a PE ratio of 13.78 and a beta of 0.66. New Jersey Resources Co. has a fifty-two week low of $41.58 and a fifty-two week 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's fifty day simple moving average is $48.17 and its 200-day simple moving average is $47.83.

New Jersey Resources (NYSE:NJR - Get Free Report) last released its earnings results on Monday, May 5th. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $913.03 million during the quarter, compared to the consensus estimate of $732.00 million. During the same quarter in the prior year, the firm earned $1.41 EPS. The company's revenue was up 38.8% compared to the same quarter last year. Sell-side 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 declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th will be paid a $0.45 dividend. 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%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of 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. New Street Research set a $51.00 price objective on shares of New Jersey Resources in a research note on Tuesday, April 1st. Wall Street Zen upgraded shares of New Jersey Resources from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Guggenheim raised their price objective 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. Finally, Jefferies Financial Group assumed coverage on New Jersey Resources in a research report on Tuesday, April 1st. They set a "hold" rating and a $51.00 target price on the stock. Five research 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 company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $51.83.

Insider Activity at New Jersey Resources

In related news, CFO Roberto Bel sold 1,173 shares of New Jersey Resources stock in a transaction on Monday, March 31st. The shares were sold at an average price of $50.00, for a total value 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 approximately $1,132,450. The trade was a 4.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is currently owned by company insiders.

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.