International Assets Investment Management LLC increased its holdings in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) by 4,358.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 94,108 shares of the utilities provider's stock after purchasing an additional 91,997 shares during the quarter. International Assets Investment Management LLC owned 0.10% of New Jersey Resources worth $4,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC purchased a new position in shares of New Jersey Resources during the 4th quarter worth $26,000. Fifth Third Bancorp lifted its holdings in New Jersey Resources by 68.0% during the third quarter. Fifth Third Bancorp now owns 1,018 shares of the utilities provider's stock valued at $41,000 after purchasing an additional 412 shares in the last quarter. Van ECK Associates Corp bought a new position in shares of New Jersey Resources in the third quarter worth approximately $79,000. Sound Income Strategies LLC purchased a new stake in shares of New Jersey Resources in the fourth quarter worth $164,000. Finally, TIAA Trust National Association bought a new stake in shares of New Jersey Resources during the 4th quarter valued at $207,000. 70.98% of the stock is owned by hedge funds and other institutional investors.
New Jersey Resources Stock Up 0.3 %
NYSE:NJR traded up $0.14 during trading hours on Thursday, reaching $44.33. The company's stock had a trading volume of 455,838 shares, compared to its average volume of 508,144. The stock has a 50 day moving average price of $42.72 and a two-hundred day moving average price of $42.65. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.47 and a current ratio of 0.70. The company has a market capitalization of $4.36 billion, a P/E ratio of 18.11 and a beta of 0.62. New Jersey Resources Co. has a 12 month low of $38.92 and a 12 month high of $50.72.
New Jersey Resources (NYSE:NJR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The utilities provider reported $0.74 earnings per share for the quarter, missing analysts' consensus estimates of $0.89 by ($0.15). The company had revenue of $467.20 million for the quarter, compared to the consensus estimate of $812.66 million. New Jersey Resources had a net margin of 13.96% and a return on equity of 11.13%. New Jersey Resources's revenue for the quarter was down 35.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.14 EPS. Equities analysts predict that New Jersey Resources Co. will post 2.94 EPS for the current fiscal year.
New Jersey Resources Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Wednesday, June 12th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend is Wednesday, June 12th. New Jersey Resources's dividend payout ratio is currently 68.85%.
Analysts Set New Price Targets
A number of research analysts recently weighed in on NJR shares. Mizuho cut their target price on shares of 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 downgraded shares of New Jersey Resources from a "hold" rating to a "sell" rating in a research note on Wednesday.
Check Out Our Latest Analysis on New Jersey Resources
New Jersey Resources Company Profile
(
Free Report)
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.
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