New Jersey Resources Co. (NYSE:NJR) Stake Boosted by Pinebridge Investments L.P.

Pinebridge Investments L.P. boosted its position in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) by 42.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 57,430 shares of the utilities provider's stock after purchasing an additional 17,180 shares during the quarter. Pinebridge Investments L.P. owned approximately 0.06% of New Jersey Resources worth $2,679,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of New Jersey Resources by 59.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 33,276 shares of the utilities provider's stock worth $1,552,000 after buying an additional 12,353 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of New Jersey Resources by 8.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,211,702 shares of the utilities provider's stock valued at $56,526,000 after purchasing an additional 96,393 shares in the last quarter. Cibc World Markets Corp acquired a new stake in shares of New Jersey Resources in the fourth quarter valued at approximately $429,000. Raymond James Financial Inc. acquired a new stake in shares of New Jersey Resources in the fourth quarter valued at approximately $3,665,000. Finally, Hennion & Walsh Asset Management Inc. increased its stake in shares of New Jersey Resources by 18.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 39,514 shares of the utilities provider's stock worth $1,843,000 after purchasing an additional 6,250 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Transactions at New Jersey Resources

In other New Jersey Resources news, CFO Roberto Bel sold 2,346 shares of New Jersey Resources stock in a transaction on Monday, March 24th. The shares were sold at an average price of $48.58, for a total value of $113,968.68. Following the completion of the transaction, the chief financial officer now owns 23,822 shares of the company's stock, valued at $1,157,272.76. The trade was a 8.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.72% of the company's stock.

New Jersey Resources Stock Down 0.2 %

Shares of New Jersey Resources stock traded down $0.09 during trading hours on Wednesday, hitting $48.98. 889,207 shares of the company's stock traded hands, compared to its average volume of 531,297. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 1.29. New Jersey Resources Co. has a twelve month low of $41.58 and a twelve month high of $51.95. The stock has a 50 day simple moving average of $48.49 and a 200-day simple moving average of $47.71. The company has a market cap of $4.91 billion, a PE ratio of 14.75 and a beta of 0.58.

New Jersey Resources (NYSE:NJR - Get Free Report) last posted its quarterly earnings results on Monday, February 3rd. The utilities provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.15. New Jersey Resources had a net margin of 18.25% and a return on equity of 15.72%. During the same period in the previous year, the firm earned $0.74 EPS. Equities research analysts anticipate that New Jersey Resources Co. will post 3.15 earnings per share for the current fiscal year.

New Jersey Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Tuesday, June 10th. New Jersey Resources's dividend payout ratio is presently 54.22%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NJR. StockNews.com upgraded New Jersey Resources from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. Jefferies Financial Group initiated coverage on shares of New Jersey Resources in a research note on Tuesday, April 1st. They set a "hold" rating and a $51.00 price target on the stock. Guggenheim increased their target price on New Jersey Resources from $53.00 to $54.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. lowered their target price on shares of New Jersey Resources from $54.00 to $52.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Finally, New Street Research set a $51.00 target price on shares of New Jersey Resources in a research report on Tuesday, April 1st. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $51.50.

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.