Two Sigma Investments LP Grows Stock Position in New Jersey Resources Co. (NYSE:NJR)

Two Sigma Investments LP boosted its holdings in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) by 80.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 152,094 shares of the utilities provider's stock after purchasing an additional 67,760 shares during the period. Two Sigma Investments LP owned about 0.15% of New Jersey Resources worth $7,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of New Jersey Resources by 7.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,309,166 shares of the utilities provider's stock valued at $154,372,000 after buying an additional 216,000 shares during the period. Wells Fargo & Company MN raised its position in New Jersey Resources by 1.3% during the fourth quarter. Wells Fargo & Company MN now owns 2,591,445 shares of the utilities provider's stock valued at $120,891,000 after acquiring an additional 32,413 shares in the last quarter. Norges Bank acquired a new position in New Jersey Resources in the fourth quarter valued at approximately $73,124,000. Millennium Management LLC boosted its position in 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 in the last quarter. Finally, Northern Trust Corp grew its stake in shares of New Jersey Resources by 18.5% during the 4th quarter. Northern Trust Corp now owns 1,350,358 shares of the utilities provider's stock worth $62,994,000 after purchasing an additional 210,538 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

New Jersey Resources Price Performance

NJR traded down $0.16 during midday trading on Friday, hitting $45.57. 55,614 shares of the company traded hands, compared to its average volume of 543,832. The business has a 50 day simple moving average of $47.92 and a two-hundred day simple moving average of $47.78. New Jersey Resources Co. has a 52-week low of $41.68 and a 52-week high of $51.95. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 13.73 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.

New Jersey Resources (NYSE:NJR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The utilities provider reported $1.76 earnings per share for the quarter, beating 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 firm had revenue of $913.03 million for the quarter, compared to analyst estimates of $732.00 million. During the same period last year, the company posted $1.41 EPS. New Jersey Resources's quarterly revenue was up 38.8% compared to the same quarter last year. On average, equities analysts forecast that New Jersey Resources Co. will post 3.15 earnings per share for the current fiscal year.

New Jersey Resources Announces Dividend

The firm 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 $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend is Tuesday, June 10th. New Jersey Resources's dividend payout ratio (DPR) is 43.69%.

Insider Activity

In related news, CFO Roberto Bel sold 2,346 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of New Jersey Resources in a research note on Tuesday, April 1st. They issued a "hold" rating and a $51.00 target price for the company. JPMorgan Chase & Co. cut their price objective on shares of New Jersey Resources from $56.00 to $51.00 and set an "overweight" rating for the company in a report on Wednesday. Wall Street Zen raised shares of New Jersey Resources from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Mizuho dropped their target price on 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. Finally, New Street Research set a $51.00 price target on New Jersey Resources in a research note on Tuesday, April 1st. Five research 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $51.67.

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.