Tudor Investment Corp ET AL Purchases 7,512 Shares of New Jersey Resources Co. (NYSE:NJR)

Tudor Investment Corp ET AL boosted its stake in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) by 129.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,305 shares of the utilities provider's stock after acquiring an additional 7,512 shares during the quarter. Tudor Investment Corp ET AL's holdings in New Jersey Resources were worth $621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP raised its holdings in New Jersey Resources by 13,692.3% during the 4th quarter. Quarry LP now owns 1,793 shares of the utilities provider's stock valued at $84,000 after buying an additional 1,780 shares during the last quarter. Aquatic Capital Management LLC bought a new position in shares of New Jersey Resources during the fourth quarter valued at approximately $574,000. Nebula Research & Development LLC bought a new position in New Jersey Resources in the 4th quarter worth $847,000. Voya Investment Management LLC boosted its position in New Jersey Resources by 5.8% during the 4th quarter. Voya Investment Management LLC now owns 160,712 shares of the utilities provider's stock valued at $7,497,000 after acquiring an additional 8,768 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in shares of New Jersey Resources in the 4th quarter worth approximately $226,000. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NJR has been the subject of several research reports. New Street Research set a $51.00 price target on shares of New Jersey Resources in a research note on Tuesday, April 1st. JPMorgan Chase & Co. cut their price target on shares of New Jersey Resources from $54.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Guggenheim upped their price target on New Jersey Resources from $53.00 to $54.00 and gave the company a "neutral" rating in a report on Wednesday, February 5th. StockNews.com downgraded shares of New Jersey Resources from a "hold" rating to a "sell" rating in a report on Tuesday, May 6th. Finally, Wells Fargo & Company raised their price target on New Jersey Resources from $51.00 to $53.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, New Jersey Resources has an average rating of "Hold" and an average price target of $51.33.

New Jersey Resources Stock Performance

New Jersey Resources stock traded down $0.10 during midday trading on Tuesday, hitting $46.19. The stock had a trading volume of 122,680 shares, compared to its average volume of 536,515. The company has a market capitalization of $4.64 billion, a PE ratio of 13.91 and a beta of 0.66. New Jersey Resources Co. has a 52-week low of $41.58 and a 52-week high of $51.95. The firm's fifty day moving average is $48.56 and its two-hundred day moving average is $47.82. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 1.29.

New Jersey Resources (NYSE:NJR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The utilities provider reported $1.76 EPS for the quarter, beating the consensus estimate of $1.65 by $0.11. New Jersey Resources had a return on equity of 15.72% and a net margin of 18.25%. The business had revenue of $913.03 million for the quarter, compared to the consensus estimate of $732.00 million. During the same period in the previous year, the business earned $1.41 earnings per share. The business's revenue was up 38.8% on a year-over-year basis. On average, research analysts forecast that New Jersey Resources Co. will post 3.15 EPS for the current year.

New Jersey Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th will be given a $0.45 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.90%. New Jersey Resources's dividend payout ratio is currently 43.69%.

Insider Activity at New Jersey Resources

In other New Jersey Resources news, CFO Roberto Bel sold 1,173 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $50.00, for a total transaction of $58,650.00. Following the sale, the chief financial officer now directly owns 22,649 shares of the company's stock, valued at $1,132,450. The trade was a 4.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.72% of the stock is currently owned by insiders.

New Jersey Resources 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.