New Jersey Resources Co. (NYSE:NJR) Stake Boosted by Natixis Advisors LLC

Natixis Advisors LLC boosted its holdings in New Jersey Resources Co. (NYSE:NJR) by 8.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,498 shares of the utilities provider’s stock after acquiring an additional 863 shares during the period. Natixis Advisors LLC’s holdings in New Jersey Resources were worth $536,000 at the end of the most recent quarter.

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

New Jersey Resources Stock Up 0.3 %

NJR opened at $48.41 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of 14.58 and a beta of 0.57. The business has a 50 day moving average of $47.55 and a 200-day moving average of $47.35. New Jersey Resources Co. has a 1-year low of $40.62 and a 1-year high of $51.95.

New Jersey Resources (NYSE:NJR) last announced its quarterly earnings data on Monday, February 3rd. The utilities provider reported $1.29 earnings per share for the quarter, topping the consensus estimate 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 last year, the firm posted $0.74 EPS. As a group, sell-side analysts anticipate that New Jersey Resources Co. will post 3.15 earnings per share for the current year.

New Jersey Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 11th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $1.80 annualized dividend and a dividend yield of 3.72%. New Jersey Resources’s dividend payout ratio is currently 54.22%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NJR shares. Guggenheim raised their price objective on shares of New Jersey Resources from $53.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. dropped their price objective on New Jersey Resources from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, StockNews.com upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.75.

Insiders Place Their Bets

In other news, CFO Roberto Bel sold 2,346 shares of New Jersey Resources stock in a transaction that occurred 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 in the company, valued at approximately $1,157,272.76. The trade was a 8.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.72% of the company’s stock.

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.