Jennison Associates LLC Buys 19,216 Shares of New Jersey Resources Co. (NYSE:NJR)

Jennison Associates LLC grew its position in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) by 94.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,621 shares of the utilities provider's stock after buying an additional 19,216 shares during the period. Jennison Associates LLC's holdings in New Jersey Resources were worth $1,766,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fortitude Family Office LLC purchased a new position in shares of New Jersey Resources during the 4th quarter valued at $26,000. Fifth Third Bancorp increased its stake in New Jersey Resources by 68.0% in the 3rd quarter. Fifth Third Bancorp now owns 1,018 shares of the utilities provider's stock worth $41,000 after acquiring an additional 412 shares during the last quarter. Farmers & Merchants Investments Inc. increased its stake in New Jersey Resources by 2,500.0% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 1,040 shares of the utilities provider's stock worth $42,000 after acquiring an additional 1,000 shares during the last quarter. Van ECK Associates Corp bought a new position in New Jersey Resources in the 3rd quarter worth about $79,000. Finally, IFP Advisors Inc increased its stake in New Jersey Resources by 27.9% in the 3rd quarter. IFP Advisors Inc now owns 2,099 shares of the utilities provider's stock worth $85,000 after acquiring an additional 458 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

New Jersey Resources Trading Up 0.1 %

NJR stock traded up $0.04 during trading on Friday, hitting $43.34. 487,246 shares of the company traded hands, compared to its average volume of 392,431. The firm has a market capitalization of $4.26 billion, a PE ratio of 17.76 and a beta of 0.64. New Jersey Resources Co. has a 1 year low of $38.92 and a 1 year high of $52.93. The company has a 50-day moving average of $42.29 and a 200-day moving average of $42.55. 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 issued its earnings results 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 company had revenue of $467.20 million for the quarter, compared to analysts' expectations of $812.66 million. New Jersey Resources had a net margin of 13.96% and a return on equity of 11.13%. The company's revenue was down 35.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.14 earnings per share. Analysts predict that New Jersey Resources Co. will post 2.94 earnings per share for the current fiscal year.

New Jersey Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors 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 yield of 3.88%. The ex-dividend date is Wednesday, June 12th. New Jersey Resources's dividend payout ratio is presently 68.85%.

Analyst Upgrades and Downgrades

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

New Jersey Resources Company 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.