Victory Capital Management Inc. Has $868,000 Stock Holdings in New Jersey Resources Co. (NYSE:NJR)

Victory Capital Management Inc. reduced its stake in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) by 82.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,466 shares of the utilities provider's stock after selling 93,998 shares during the period. Victory Capital Management Inc.'s holdings in New Jersey Resources were worth $868,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NJR. Vanguard Group Inc. grew its holdings in New Jersey Resources by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 11,564,868 shares of the utilities provider's stock worth $469,881,000 after acquiring an additional 373,802 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in New Jersey Resources by 876.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 114,858 shares of the utilities provider's stock worth $4,667,000 after acquiring an additional 103,090 shares in the last quarter. International Assets Investment Management LLC boosted its holdings 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 buying an additional 91,997 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of New Jersey Resources in the 3rd quarter valued at about $3,212,000. Finally, UBS Group AG boosted its holdings in shares of New Jersey Resources by 149.4% in the 3rd quarter. UBS Group AG now owns 121,182 shares of the utilities provider's stock valued at $4,924,000 after buying an additional 72,585 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on NJR. StockNews.com raised shares of New Jersey Resources from a "sell" rating to a "hold" rating in a report on Thursday, May 16th. Mizuho decreased their price target 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.

New Jersey Resources Stock Performance

NYSE:NJR traded down $0.83 during mid-day trading on Wednesday, hitting $43.74. The stock had a trading volume of 328,437 shares, compared to its average volume of 497,709. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 17.43 and a beta of 0.62. The company has a 50 day simple moving average of $43.04 and a 200-day simple moving average of $42.83. New Jersey Resources Co. has a 52 week low of $38.92 and a 52 week high of $50.72. The company has a current ratio of 0.70, a quick ratio of 0.56 and a debt-to-equity ratio of 1.25.

New Jersey Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Wednesday, June 12th will be given a $0.42 dividend. The ex-dividend date is Wednesday, June 12th. This represents a $1.68 annualized dividend and a yield of 3.84%. New Jersey Resources's dividend payout ratio is presently 66.40%.

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.