7,296 Shares in New Jersey Resources Co. (NYSE:NJR) Purchased by PharVision Advisers LLC

PharVision Advisers LLC purchased a new stake in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,296 shares of the utilities provider's stock, valued at approximately $340,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in New Jersey Resources by 7.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 290,655 shares of the utilities provider's stock valued at $13,559,000 after buying an additional 19,461 shares during the period. Voloridge Investment Management LLC lifted its stake in shares of New Jersey Resources by 172.7% in the 4th quarter. Voloridge Investment Management LLC now owns 24,459 shares of the utilities provider's stock worth $1,141,000 after acquiring an additional 15,491 shares during the period. Zimmer Partners LP bought a new position in shares of New Jersey Resources in the fourth quarter valued at approximately $3,186,000. Two Sigma Advisers LP increased its stake in shares of New Jersey Resources by 1,061.0% during the fourth quarter. Two Sigma Advisers LP now owns 95,200 shares of the utilities provider's stock valued at $4,441,000 after acquiring an additional 87,000 shares during the period. Finally, Two Sigma Investments LP increased its stake in shares of New Jersey Resources by 80.3% during the fourth quarter. Two Sigma Investments LP now owns 152,094 shares of the utilities provider's stock valued at $7,095,000 after acquiring an additional 67,760 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wells Fargo & Company upped their target price on New Jersey Resources from $51.00 to $53.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. Wall Street Zen raised New Jersey Resources from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. New Street Research set a $51.00 target price on New Jersey Resources in a research note on Tuesday, April 1st. JPMorgan Chase & Co. lowered their target price on New Jersey Resources from $54.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Finally, Mizuho dropped their price target on shares of New Jersey Resources from $52.00 to $50.00 and set a "neutral" rating on the stock in a research report on Thursday, May 15th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $51.83.

Insider Buying and Selling at New Jersey Resources

In other New Jersey Resources news, CFO Roberto Bel sold 2,346 shares of New Jersey Resources stock in a transaction that occurred on 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 approximately $1,157,272.76. The trade was a 8.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.72% of the company's stock.

New Jersey Resources Price Performance

Shares of NYSE NJR traded up $0.36 during trading on Tuesday, hitting $46.10. The company had a trading volume of 75,508 shares, compared to its average volume of 543,191. New Jersey Resources Co. has a 52 week low of $41.58 and a 52 week high of $51.95. The business's 50-day moving average is $48.10 and its 200 day moving average is $47.83. The company has a market cap of $4.63 billion, a P/E ratio of 13.89 and a beta of 0.66. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.61 and a current ratio of 0.89.

New Jersey Resources (NYSE:NJR - Get Free Report) last announced 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 return on equity of 15.72% and a net margin of 18.25%. The company had revenue of $913.03 million for the quarter, compared to analyst estimates of $732.00 million. During the same period in the previous year, the firm earned $1.41 earnings per share. New Jersey Resources's revenue for the quarter was up 38.8% compared to the same quarter last year. Equities research analysts predict that New Jersey Resources Co. will post 3.15 earnings per share for the current fiscal year.

New Jersey Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.80 annualized dividend and a yield of 3.90%. New Jersey Resources's payout ratio is presently 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.