Victory Capital Management Inc. Acquires 6,280 Shares of New Jersey Resources Co. (NYSE:NJR)

Victory Capital Management Inc. boosted its holdings in New Jersey Resources Co. (NYSE:NJR) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 364,026 shares of the utilities provider’s stock after buying an additional 6,280 shares during the quarter. Victory Capital Management Inc. owned 0.36% of New Jersey Resources worth $16,982,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of NJR. Roxbury Financial LLC purchased a new position in shares of New Jersey Resources during the fourth quarter valued at approximately $25,000. FSA Wealth Management LLC bought a new stake in New Jersey Resources in the 3rd quarter worth approximately $27,000. Versant Capital Management Inc raised its stake in New Jersey Resources by 9,400.0% during the 4th quarter. Versant Capital Management Inc now owns 665 shares of the utilities provider’s stock valued at $31,000 after buying an additional 658 shares during the last quarter. UMB Bank n.a. raised its stake in New Jersey Resources by 69.8% during the 4th quarter. UMB Bank n.a. now owns 839 shares of the utilities provider’s stock valued at $39,000 after buying an additional 345 shares during the last quarter. Finally, Halbert Hargrove Global Advisors LLC bought a new position in shares of New Jersey Resources during the 4th quarter valued at $42,000. Institutional investors own 70.98% of the company’s stock.

Insider Activity

In related news, COO Patrick J. Migliaccio sold 4,983 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $46.00, for a total transaction of $229,218.00. Following the completion of the sale, the chief operating officer now owns 37,124 shares in the company, valued at approximately $1,707,704. This trade represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.72% of the company’s stock.

New Jersey Resources Stock Performance

NYSE:NJR opened at $48.08 on Thursday. The stock has a 50-day simple moving average of $47.00 and a two-hundred day simple moving average of $47.16. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.61 and a current ratio of 0.89. New Jersey Resources Co. has a 52-week low of $40.62 and a 52-week high of $51.94. The firm has a market capitalization of $4.82 billion, a PE ratio of 14.48 and a beta of 0.57.

New Jersey Resources (NYSE:NJR) last announced its quarterly earnings data on Monday, February 3rd. The utilities provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.15. New Jersey Resources had a return on equity of 15.72% and a net margin of 18.25%. During the same quarter in the prior year, the firm posted $0.74 earnings per share. Analysts forecast that New Jersey Resources Co. will post 3.15 EPS for the current year.

New Jersey Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.80 annualized dividend and a dividend yield of 3.74%. New Jersey Resources’s payout ratio is 54.22%.

Analyst Upgrades and Downgrades

NJR has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on New Jersey Resources from $51.00 to $54.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. StockNews.com upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. JPMorgan Chase & Co. lowered their price objective on shares of New Jersey Resources from $54.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Guggenheim boosted their target price on shares of New Jersey Resources from $53.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Four research 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.75.

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.