Nuveen Asset Management LLC Has $22.20 Million Stake in New Jersey Resources Co. (NYSE:NJR)

Nuveen Asset Management LLC increased its position in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 475,830 shares of the utilities provider's stock after acquiring an additional 13,580 shares during the quarter. Nuveen Asset Management LLC owned about 0.47% of New Jersey Resources worth $22,197,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in NJR. Barclays PLC lifted its stake in shares of New Jersey Resources by 140.0% during the third quarter. Barclays PLC now owns 189,827 shares of the utilities provider's stock valued at $8,959,000 after acquiring an additional 110,723 shares during the period. UMB Bank n.a. lifted its stake in New Jersey Resources by 69.8% in 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 period. Janney Montgomery Scott LLC lifted its stake in New Jersey Resources by 17.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 206,209 shares of the utilities provider's stock valued at $9,620,000 after buying an additional 30,355 shares during the period. Exchange Traded Concepts LLC lifted its stake in New Jersey Resources by 0.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 225,250 shares of the utilities provider's stock valued at $10,508,000 after buying an additional 1,988 shares during the period. Finally, KBC Group NV lifted its stake in New Jersey Resources by 78.5% in the fourth quarter. KBC Group NV now owns 4,525 shares of the utilities provider's stock valued at $211,000 after buying an additional 1,990 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.

New Jersey Resources Stock Down 0.1%

Shares of NYSE NJR traded down $0.06 during mid-day trading on Thursday, reaching $45.25. 58,275 shares of the company's stock were exchanged, compared to its average volume of 623,215. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of 13.63 and a beta of 0.66. 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 business has a fifty day simple moving average of $47.97 and a 200 day simple moving average of $47.80. New Jersey Resources Co. has a twelve month low of $41.58 and a twelve month high of $51.94.

New Jersey Resources (NYSE:NJR - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $913.03 million during the quarter, compared to the consensus estimate of $732.00 million. New Jersey Resources had a return on equity of 15.72% and a net margin of 18.25%. New Jersey Resources's quarterly revenue was up 38.8% on a year-over-year basis. During the same period last year, the company earned $1.41 earnings per share. As a group, equities analysts expect that New Jersey Resources Co. will post 3.15 EPS for the current fiscal year.

New Jersey Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th will be issued a dividend of $0.45 per share. The ex-dividend date is Tuesday, June 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.98%. New Jersey Resources's payout ratio is presently 43.69%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wall Street Zen raised 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 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. JPMorgan Chase & Co. cut their target price on New Jersey Resources from $56.00 to $51.00 and set an "overweight" rating on the stock in a research note on Wednesday. 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. Finally, New Street Research set a $51.00 target price on New Jersey Resources in a research note on Tuesday, April 1st. Five equities 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. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $51.67.

Insider Buying and Selling at New Jersey Resources

In other New Jersey Resources news, CFO Roberto Bel sold 1,173 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $50.00, for a total value of $58,650.00. Following the completion of the transaction, the chief financial officer now directly owns 22,649 shares in the company, valued at $1,132,450. This trade represents 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 through this link. Corporate insiders own 0.72% of the company's stock.

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.