Vanguard Group Inc. Has $537.25 Million Stock Position in New Jersey Resources Co. (NYSE:NJR)

Vanguard Group Inc. reduced its position in New Jersey Resources Co. (NYSE:NJR) by 0.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,516,643 shares of the utilities provider’s stock after selling 22,916 shares during the period. Vanguard Group Inc. owned about 0.11% of New Jersey Resources worth $537,251,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NJR. Roxbury Financial LLC acquired a new position in New Jersey Resources in the fourth quarter worth approximately $25,000. FSA Wealth Management LLC acquired a new position in shares of New Jersey Resources during the 3rd quarter worth $27,000. Versant Capital Management Inc raised its holdings in shares of 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 purchasing an additional 658 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of New Jersey Resources by 69.8% in the 4th quarter. UMB Bank n.a. now owns 839 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 345 shares during the last quarter. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in New Jersey Resources in the fourth quarter worth $42,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

New Jersey Resources Trading Down 0.7 %

Shares of NYSE:NJR opened at $49.02 on Tuesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.61 and a current ratio of 0.89. The stock’s 50-day moving average is $47.63 and its 200-day moving average is $47.41. The company has a market cap of $4.92 billion, a P/E ratio of 14.77 and a beta of 0.57. New Jersey Resources Co. has a 52-week low of $40.62 and a 52-week high of $51.95.

New Jersey Resources (NYSE:NJR) last issued its quarterly earnings results on Monday, February 3rd. The utilities provider reported $1.29 EPS 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 period in the prior year, the company posted $0.74 EPS. Equities research analysts predict that New Jersey Resources Co. will post 3.15 earnings per share for the current year.

New Jersey Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th will be given a $0.45 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $1.80 annualized dividend and a yield of 3.67%. New Jersey Resources’s dividend payout ratio is 54.22%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NJR. StockNews.com upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Guggenheim boosted their target price on New Jersey Resources from $53.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. decreased their target price on New Jersey Resources from $54.00 to $52.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.75.

Insiders Place Their Bets

In related news, CFO Roberto Bel sold 2,346 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 23,822 shares in the company, valued at approximately $1,157,272.76. This trade represents a 8.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.72% of the company’s stock.

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.