Louisiana State Employees Retirement System Invests $1.22 Million in New Jersey Resources Co. (NYSE:NJR)

Louisiana State Employees Retirement System acquired a new stake in New Jersey Resources Co. (NYSE:NJR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 27,400 shares of the utilities provider's stock, valued at approximately $1,221,000.

A number of other institutional investors have also made changes to their positions in the stock. International Assets Investment Management LLC raised its stake in shares of New Jersey Resources by 4,358.0% in the 4th quarter. International Assets Investment Management LLC now owns 94,108 shares of the utilities provider's stock valued at $4,195,000 after acquiring an additional 91,997 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in New Jersey Resources by 4.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,427 shares of the utilities provider's stock worth $1,981,000 after buying an additional 1,996 shares during the period. Arkadios Wealth Advisors increased its position in New Jersey Resources by 2.3% in the 4th quarter. Arkadios Wealth Advisors now owns 11,765 shares of the utilities provider's stock worth $524,000 after buying an additional 265 shares during the period. TIAA Trust National Association bought a new position in New Jersey Resources in the 4th quarter worth approximately $207,000. Finally, Clear Harbor Asset Management LLC increased its position in New Jersey Resources by 15.4% in the 4th quarter. Clear Harbor Asset Management LLC now owns 123,519 shares of the utilities provider's stock worth $5,506,000 after buying an additional 16,486 shares during the period. 70.98% of the stock is owned by institutional investors.

New Jersey Resources Stock Performance

Shares of NYSE:NJR traded down $0.09 during trading on Tuesday, hitting $43.44. 383,045 shares of the stock were exchanged, compared to its average volume of 509,010. New Jersey Resources Co. has a 1-year low of $38.92 and a 1-year high of $53.55. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of 17.80 and a beta of 0.64. The company's fifty day simple moving average is $42.20 and its 200-day simple moving average is $42.52. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.47 and a current ratio of 0.70.

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). New Jersey Resources had a return on equity of 11.13% and a net margin of 13.96%. The firm had revenue of $467.20 million for the quarter, compared to analyst estimates of $812.66 million. During the same period in the previous year, the business posted $1.14 EPS. New Jersey Resources's revenue for the quarter was down 35.4% compared to the same quarter last year. Sell-side analysts expect that New Jersey Resources Co. will post 2.94 EPS for the current fiscal year.

New Jersey Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Wednesday, June 12th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend is Wednesday, June 12th. New Jersey Resources's payout ratio is presently 68.85%.

Wall Street Analyst Weigh In

NJR has been the topic of several recent analyst reports. StockNews.com raised New Jersey Resources from a "sell" rating to a "hold" rating in a research report on Wednesday, February 7th. Mizuho dropped their price target on New Jersey Resources from $47.00 to $45.00 and set a "neutral" rating on the stock in a research report on Monday, February 5th.

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.