Jackson Creek Investment Advisors LLC Makes New $935,000 Investment in New Jersey Resources Co. (NYSE:NJR)

Jackson Creek Investment Advisors LLC acquired a new stake in New Jersey Resources Co. (NYSE:NJR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 20,979 shares of the utilities provider's stock, valued at approximately $935,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC purchased a new stake in shares of New Jersey Resources in the fourth quarter valued at $26,000. Parkside Financial Bank & Trust purchased a new position in shares of New Jersey Resources in the 4th quarter worth about $29,000. Headlands Technologies LLC acquired a new position in shares of New Jersey Resources in the 4th quarter valued at about $31,000. GAMMA Investing LLC purchased a new stake in shares of New Jersey Resources during the 4th quarter worth about $40,000. Finally, Fifth Third Bancorp grew its holdings in shares of New Jersey Resources by 68.0% during the 3rd quarter. Fifth Third Bancorp now owns 1,018 shares of the utilities provider's stock worth $41,000 after purchasing an additional 412 shares during the period. Hedge funds and other institutional investors own 70.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NJR shares. StockNews.com upgraded New Jersey Resources from a "sell" rating to a "hold" rating in a report on Wednesday, February 7th. Mizuho decreased their target price 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.

New Jersey Resources Trading Up 0.9 %

Shares of NYSE:NJR traded up $0.39 during trading on Wednesday, reaching $44.08. 490,943 shares of the stock were exchanged, compared to its average volume of 509,633. The firm's 50-day moving average price is $42.40 and its 200 day moving average price is $42.58. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 18.07 and a beta of 0.64. 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 Co. has a 12-month low of $38.92 and a 12-month high of $52.93.

New Jersey Resources (NYSE:NJR - Get Free Report) last released its quarterly earnings results on Tuesday, February 6th. The utilities provider reported $0.74 EPS 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 analyst estimates 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 was down 35.4% on a year-over-year basis. During the same period last year, the firm posted $1.14 earnings per share. On average, sell-side analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Wednesday, June 12th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.81%. The ex-dividend date is Wednesday, June 12th. New Jersey Resources's dividend payout ratio (DPR) is presently 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.