Dimensional Fund Advisors LP Has $154.37 Million Stock Position in New Jersey Resources Co. (NYSE:NJR)

Dimensional Fund Advisors LP increased its position in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) by 7.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,309,166 shares of the utilities provider's stock after acquiring an additional 216,000 shares during the period. Dimensional Fund Advisors LP owned about 3.30% of New Jersey Resources worth $154,372,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NJR. Thurston Springer Miller Herd & Titak Inc. raised its position in New Jersey Resources by 59.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 33,276 shares of the utilities provider's stock valued at $1,552,000 after acquiring an additional 12,353 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of New Jersey Resources by 8.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,211,702 shares of the utilities provider's stock worth $56,526,000 after purchasing an additional 96,393 shares during the last quarter. Cibc World Markets Corp bought a new position in shares of New Jersey Resources during the 4th quarter valued at $429,000. Raymond James Financial Inc. acquired a new stake in shares of New Jersey Resources in the 4th quarter valued at $3,665,000. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in New Jersey Resources by 18.8% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 39,514 shares of the utilities provider's stock worth $1,843,000 after purchasing an additional 6,250 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insider Activity

In other news, CFO Roberto Bel sold 1,173 shares of the 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 of the company's stock, valued at approximately $1,132,450. This represents a 4.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.72% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on NJR shares. StockNews.com raised New Jersey Resources from a "sell" rating to a "hold" rating in a research report on Tuesday, February 4th. Jefferies Financial Group initiated coverage on New Jersey Resources in a report on Tuesday, April 1st. They issued a "hold" rating and a $51.00 target price for the company. Guggenheim increased their price target on New Jersey Resources from $53.00 to $54.00 and gave the company a "neutral" rating in a report on Wednesday, February 5th. 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. Finally, New Street Research set a $51.00 target price on shares of New Jersey Resources in a report on Tuesday, April 1st. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $51.50.

New Jersey Resources Stock Performance

Shares of NJR traded down $0.09 during trading hours on Wednesday, reaching $48.98. 889,207 shares of the company traded hands, compared to its average volume of 530,341. New Jersey Resources Co. has a 1-year low of $41.58 and a 1-year high of $51.95. The stock has a market cap of $4.91 billion, a P/E ratio of 14.75 and a beta of 0.58. The stock's fifty day moving average is $48.54 and its 200 day moving average is $47.72. 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 quarterly earnings data on Monday, February 3rd. The utilities provider reported $1.29 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.15. New Jersey Resources had a return on equity of 15.72% and a net margin of 18.25%. During the same period in the prior year, the company posted $0.74 earnings per share. Equities research analysts anticipate that New Jersey Resources Co. will post 3.15 earnings per share for the current fiscal year.

New Jersey Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Tuesday, June 10th. New Jersey Resources's dividend payout ratio (DPR) is presently 54.22%.

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.