Zimmer Partners LP Takes $3.19 Million Position in New Jersey Resources Co. (NYSE:NJR)

Zimmer Partners LP purchased a new stake in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 68,300 shares of the utilities provider's stock, valued at approximately $3,186,000. Zimmer Partners LP owned 0.07% of New Jersey Resources at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Two Sigma Advisers LP lifted its stake in shares of New Jersey Resources by 1,061.0% in the 4th quarter. Two Sigma Advisers LP now owns 95,200 shares of the utilities provider's stock worth $4,441,000 after purchasing an additional 87,000 shares during the period. Two Sigma Investments LP raised its position in New Jersey Resources by 80.3% in the fourth quarter. Two Sigma Investments LP now owns 152,094 shares of the utilities provider's stock worth $7,095,000 after acquiring an additional 67,760 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of New Jersey Resources by 67.6% during the 4th quarter. Point72 Asset Management L.P. now owns 305,102 shares of the utilities provider's stock worth $14,233,000 after acquiring an additional 123,100 shares during the last quarter. Nomura Holdings Inc. purchased a new position in shares of New Jersey Resources during the 4th quarter worth $613,000. Finally, Nuveen Asset Management LLC grew its position in shares of New Jersey Resources by 2.9% during the 4th quarter. Nuveen Asset Management LLC now owns 475,830 shares of the utilities provider's stock valued at $22,197,000 after acquiring an additional 13,580 shares during the period. 70.98% of the stock is owned by institutional investors.

Insider Buying and Selling at New Jersey Resources

In other New Jersey Resources news, CFO Roberto Bel sold 1,173 shares of New Jersey Resources 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 sale, the chief financial officer now owns 22,649 shares of the company's stock, valued at $1,132,450. The trade was a 4.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.72% of the company's stock.

Analyst Ratings Changes

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

New Jersey Resources Price Performance

NJR traded up $0.28 on Monday, hitting $45.75. 431,934 shares of the company's stock traded hands, compared to its average volume of 545,036. The company's 50 day simple moving average is $48.17 and its 200-day simple moving average is $47.83. 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 Co. has a one year low of $41.58 and a one year high of $51.95. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 13.78 and a beta of 0.66.

New Jersey Resources (NYSE:NJR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The utilities provider reported $1.76 earnings per share (EPS) 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 business had revenue of $913.03 million during the quarter, compared to analyst estimates of $732.00 million. During the same period last year, the firm posted $1.41 EPS. The company's revenue was up 38.8% on a year-over-year basis. As a group, research analysts anticipate that New Jersey Resources Co. will post 3.15 EPS for the current year.

New Jersey Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Tuesday, June 10th. New Jersey Resources's payout ratio is currently 43.69%.

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.