Twinbeech Capital LP Lowers Stock Position in New Jersey Resources Co. (NYSE:NJR)

Twinbeech Capital LP lessened its stake in New Jersey Resources Co. (NYSE:NJR - Free Report) by 58.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,672 shares of the utilities provider's stock after selling 13,808 shares during the quarter. Twinbeech Capital LP's holdings in New Jersey Resources were worth $451,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Arizona State Retirement System grew its position in New Jersey Resources by 1.1% in the fourth quarter. Arizona State Retirement System now owns 28,781 shares of the utilities provider's stock worth $1,343,000 after acquiring an additional 325 shares during the period. Good Life Advisors LLC grew its position in New Jersey Resources by 1.0% in the fourth quarter. Good Life Advisors LLC now owns 34,643 shares of the utilities provider's stock worth $1,616,000 after acquiring an additional 327 shares during the period. UMB Bank n.a. grew its position 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 worth $39,000 after acquiring an additional 345 shares during the period. Greenwood Capital Associates LLC grew its position in New Jersey Resources by 1.5% in the fourth quarter. Greenwood Capital Associates LLC now owns 25,522 shares of the utilities provider's stock worth $1,191,000 after acquiring an additional 383 shares during the period. Finally, Franklin Resources Inc. grew its position in New Jersey Resources by 0.3% in the fourth quarter. Franklin Resources Inc. now owns 122,953 shares of the utilities provider's stock worth $5,736,000 after acquiring an additional 408 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.

New Jersey Resources Stock Down 1.8%

New Jersey Resources stock traded down $0.83 during midday trading on Wednesday, reaching $45.37. The company's stock had a trading volume of 79,074 shares, compared to its average volume of 542,911. 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 quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 1.29. The company has a market cap of $4.55 billion, a P/E ratio of 13.70 and a beta of 0.66. The business has a 50-day simple moving average of $48.04 and a 200-day simple moving average of $47.81.

New Jersey Resources (NYSE:NJR - Get Free Report) last posted its earnings results on Monday, May 5th. The utilities provider reported $1.76 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 business had revenue of $913.03 million for the quarter, compared to analysts' expectations of $732.00 million. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The business's revenue was up 38.8% compared to the same quarter last year. On average, research analysts expect that New Jersey Resources Co. will post 3.15 earnings per share for the current fiscal year.

New Jersey Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Tuesday, June 10th. New Jersey Resources's dividend payout ratio (DPR) is currently 43.69%.

Insider Transactions at New Jersey Resources

In related news, CFO Roberto Bel sold 1,173 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $50.00, for a total transaction of $58,650.00. Following the transaction, the chief financial officer now owns 22,649 shares of the company's stock, valued at $1,132,450. This trade represents a 4.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NJR shares. Mizuho lowered their price objective 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. 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 price target for the company. 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 report on Wednesday, February 5th. Wells Fargo & Company raised their price target 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. Finally, New Street Research set a $51.00 price target on New Jersey Resources in a research report on Tuesday, April 1st. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $51.67.

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.