International Assets Investment Management LLC Grows Stock Position in New Jersey Resources Co. (NYSE:NJR)

International Assets Investment Management LLC increased its holdings in New Jersey Resources Co. (NYSE:NJR - Free Report) by 4,358.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,108 shares of the utilities provider's stock after buying an additional 91,997 shares during the quarter. International Assets Investment Management LLC owned about 0.10% of New Jersey Resources worth $4,195,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NJR. Vanguard Group Inc. lifted its position in shares of New Jersey Resources by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 11,564,868 shares of the utilities provider's stock worth $469,881,000 after purchasing an additional 373,802 shares during the period. SG Americas Securities LLC purchased a new stake in shares of New Jersey Resources during the third quarter worth approximately $1,738,000. Inspire Investing LLC boosted its stake in New Jersey Resources by 13.6% in the 3rd quarter. Inspire Investing LLC now owns 7,555 shares of the utilities provider's stock worth $307,000 after buying an additional 906 shares during the last quarter. HighTower Advisors LLC boosted its position in New Jersey Resources by 56.3% during the 3rd quarter. HighTower Advisors LLC now owns 24,112 shares of the utilities provider's stock valued at $980,000 after purchasing an additional 8,681 shares during the period. Finally, Mattern Capital Management LLC grew its holdings in shares of New Jersey Resources by 22.0% during the third quarter. Mattern Capital Management LLC now owns 163,683 shares of the utilities provider's stock valued at $6,650,000 after buying an additional 29,492 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Mizuho decreased their price objective on New Jersey Resources from $47.00 to $45.00 and set a "neutral" rating for the company in a report on Monday, February 5th. StockNews.com raised shares of New Jersey Resources from a "sell" rating to a "hold" rating in a research report on Wednesday, February 7th.

New Jersey Resources Stock Up 0.7 %

Shares of New Jersey Resources stock traded up $0.29 during trading on Wednesday, hitting $41.57. 366,735 shares of the stock were exchanged, compared to its average volume of 509,079. New Jersey Resources Co. has a 12-month low of $38.92 and a 12-month high of $53.98. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of 17.04 and a beta of 0.64. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.70 and a quick ratio of 0.47. The firm's 50-day moving average price is $42.06 and its 200 day moving average price is $42.43.

New Jersey Resources (NYSE:NJR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The utilities provider reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.15). The firm had revenue of $467.20 million for the quarter, compared to the consensus estimate of $812.66 million. New Jersey Resources had a return on equity of 11.13% and a net margin of 13.96%. The business's revenue for the quarter was down 35.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.14 earnings per share. As a group, analysts forecast that New Jersey Resources Co. will post 2.94 earnings per share for the current fiscal year.

New Jersey Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Wednesday, March 13th were paid a $0.42 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $1.68 dividend on an annualized basis and a yield of 4.04%. New Jersey Resources's dividend payout ratio (DPR) is 68.85%.

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.